Stars Arena and The Future of SocialFi + AI Randomly

GoGoPool, Landslide + Savvy Defi talked to the Avalanche community about Stars Arena's return + somehow got on AI taking over the world 

Social Links:
GoGoPool Twitter: https://twitter.com/GoGoPool_
Savvy DeFi Twitter: https://twitter.com/SavvyDeFi
Landslide Twitter: https://twitter.com/CosmosAVAX

Transcript

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I would like to welcome everyone to the avax ecosystem space. I am one of your lovely hosts My name is brevie. I do growth things for gogo pool And if you don't know what gogo pool is We are a permissionless liquid staking protocol with the specific vision subnet economy I'm joined here by my lovely We have Alex Lumley at the helm of Savvy DeFi doing non liquidated lines of credit, baby. Say, what's up, my friend? What's up? What's up? What's up? What's up? I am also joined by my other lovely co host, we have Nathan Windsor at the helm of Landslider. He's bringing the cosmos over to AVEX. Say what's up my friend! I turned 40 and my wife gave me a box of bees. Nathan also turned 40 today. So real quick, before we get this thing started, I got to get this going in one, two, three. Happy birthday to you, happy birthday to you. There's a slight lag, so it's going to be hard. We are definitely not as good as singers as Nathan. Well, a very merry unbirthday to you, gentlemen. A very merry unbirthday to you. Happy birthday to you. Happy birthday to you. See, I'm gonna give y'all a soul version, baby. I'm a dancer. Happy birthday! Happy birthday to you! Yeah! I fucking love this show, dude. All right, all right, all right. So, everyone out there, we all know what you came here for. You came here for... Well, not for alpha. Well, yeah, for alpha, but obviously there's not going to be too much of that, but we came here to talk about stars arena, everybody. The arena is back and in full force for this specific aves ego space. We're going to do this. Super, super casual. Um, we're not going to have any specific speakers up here. So if you want to come on up and say some shit, just go ahead and uh, request a speaker. I'll get you on up here, Aaron. You've been waiting patiently, my friend. Let me go ahead and get you up here as well. Add as speaker to my guy, Aaron. I'll air in. I think you are here, my friend, but there might be a lag in my system, so I can't. Oh, yes, you are here. Hell yeah. What's up, dude? Oh, hey, hey, hello, hello. Shout out, guys. Um, first of all, thanks for letting me speak up. And, uh, secondly, uh, happy birthday, Nathan. I didn't... Didn't know that I can turn up on the space celebrating somebody's birthday that accidentally Um, and, uh, this is, uh, this is, uh, how do you say that, um, gratitude from, uh, China actually. So it is here is, uh, 3:00 AM now. Um, but still, uh, shout out. Wow. And, uh, happy birthday. And uh, Aaron, you are up at three in the morning, my friend. That is insane actually, um, I am here, so that's why what I'm going to explain, um, the thing that I am here based on some stupid organizational request from my boss who is doing some. Uh, friend tag bullshit, but I'm not going to bring up here because I feel the vibe is so great and I don't want to ruin the bullshit to bring out the company's like nonsense. So that's why I'm just here to say hello and celebrate your birthday. And also I love that movie. I wasn't actually expecting to, uh. Stay up so late and, uh, pop up to a space that is playing El Guadalatadula. So I was like, fuck yes, man. I love that movie and I love you guys. Hey, first off, Aaron, we really, really appreciate you wanting to let you know that. So Aaron's actually here as a spy, it would seem. Are you, are you a spy? No, no, no, definitely not. I was captured by Chinese government once, so I'm definitely not a spy. Holy shit. Sounds exactly like what a spy would say. Okay guys, so, you know, I don't know if you've seen about, uh, This relaunch has been kind of rocky, to be honest. Like they had a bunch of basic functionality on the site that was working before the exploit that now post exploit isn't working. So basically when you buy someone's ticket, you don't get access to their room. Because there is some indexing on the back end that isn't working. So this is now leading to a complete fire sale. I am actually sitting here just before I got on the space and still am. And I'm watching the contract with TVL in real time. And it's dropping with thousands of dollars by the minute. Like, this is a disaster right now. So glad you brought that to our attention. I'll be in the bottom of the well. I'm glad you brought so our attention as well.'cause I would not have but noticed.'cause I'm, I'm not like a contract watcher. I'm more of like a, you know, I just kind of go in there and I be tweet, tweeting and posting shit. But, uh, by the way guys, yeah. What up Alex? Second I wanna introduce, uh, my friend Goat. Goat Frankie. Um, he is, uh, he's a DJ's DJ in a, in a, in a, in a beautiful person, but also sometimes, uh, brings the, the, the, the chaos in a very good way. So thank you for joining and dropping that bomb. And now everyone is, is. is, is checking out the contracts. So, so for any, like, like what, what happened? How did, how did this come about? Like what, what happened with the revamp? Well, basically they have some functionality, which isn't necessarily related to the trading side. It's, it's some, I would guess, database indexing that isn't working. So you can buy and sell shares or trade tickets, but you know, when that need to. Uh, I guess parse against the databases so that you get access to rooms on the front end. Uh, that isn't working somehow. Uh, so far, like, they were above 2 million TVL today when I woke up, like 2, 050, 000. Now it's 1, 500, 000. And, you know, that, that drop off like half an hour ago or so was 1. 7. So it's dropping by several thousand dollars by the minute now. It's... Yeah, it just dropped 5, 000 more now while I talked to her. Wait, it dropped another 5, 000 just while you're talking? Yeah. Yeah. Goat. That means you gotta stop talking though. I'm just fucking with you. Damn. Damn. That's, that's really fucking deep. I didn't. So, I mean, like, in your opinion, go like, cause you know, at some, you know. I expected it to drop in TVL for sure. I expected some sort of fire sale to happen. Would you say this is kind of exactly what you expected or is this kind of a little bit more than what you expected? Well, it's hard because, you know, I expected a sell off, of course, but, you know, uh, they try to be smart about it, which means that they try to launch trading at a random time so that people couldn't, you know, Panic set like a big wall right as soon as trading started. So trading turned off like, um, Or turned back on sorry almost 24 hours ago, like maybe 20 hours ago So a lot of people were asleep. I think at that time depending on your time zone So some people sold it down and you know, people bought it back up, but then people woke up today and there's a second sell off because the site isn't actually working very well and people I think they're losing somewhat confidence in the team. Uh, I I wouldn't say that i'm necessarily in that camp myself Um, and yeah, no, I I Put quite a bit of funds into stars arena as well. I've seen my portfolio plummet with like 200 avax the past hour or so So it's it's not a good site. Um, I would actually 100 agree with you at um right now my friend. Um, Like when I first kind of joined, uh joined back on the stars arena It was like really really buggy and really really laggy. Um, actually had a hard time just like Getting in I think I had to try like four or five times before I finally like authorized me to like use my account um You know, but would we say that, you know, these kind of bugs are something that we should kind of expect from like a relaunch like this, because, you know, if you really think about it, not only were they hacked for like 3 million, so they were hacked for 3 million. I guess I'll go, I'll just, I'll recap the saga real quick, actually, since I'm just going to go over it. So these folks. Just fucking popped up out of nowhere. And within two weeks rose to like 3 million TVL and basically took over the entire social five scape, which was fucking insane. Then they were hacked once, but that hack was pretty petty. And in my opinion, something that, uh, was planned because the scammer literally. Was losing money to hack it. So, you know, like if I'm a scammer and I want a fucking hack, I'm not going to, I don't, I wouldn't lose money in order to hack something. So in my opinion, that was, uh, planned by somebody, but we're going to keep on going. So then further, it was then hacked again. For 3 million for the entirety of their liquidity. Um, I don't know exactly how, how goat, do you have any know how about how it was actually hacked before? Oh, not at all. Unfortunately. Yeah, it's, it's, it's not my expertise like at all, but I just know, you know, I'm high level overview of this shit. Uh, 3 million TVL. Everyone was like, Holy fucking shit. This sucks. Um, because. It was literally like starting off the bull run of Avalanche and then like everything just fucking crashed and went to shit. Um, and then from there, you know, like they wound up getting a whole fucking team together. So they hired on a developer. He's from, um, the fucking Chad Dozier's, I believe, uh, they wound up getting security audited by Paladin, I believe Paladin SEC or something like that. Uh, And then, so all of this happened within the space of like a week with them getting hacked, getting audited, redoing everything, and then relaunching. Uh, in my opinion, I kind of thought that this was going to happen, like there would be... It would launch with some sort of bugs or it'd be, you know, a little buggy for sure. A little laggy because everyone's going to be hopping on at the exact same time. Basically, just because, I mean, as soon as they said, as soon as someone said the arena is back, everyone just bam, went straight back to it. Um, so I, some of this is to be expected, but. It has been having some issues that have been kind of annoying. Like right now, I, I want to just go to my inbox and it takes forever for it to load. Like I just, well, I think that like, you know, as compared to billing a regular DAP, uh, I think the social fi is another beast entirely because, you know, as compared to someone adding liquidity to a DAP or something and staking it and then checking back two months later, like social fi is gonna require so much more resources. Um, in terms of hardware and servers and computational processing power, because there's gonna be, uh, you know, so much more data that people are trying to access at any given time. Like, uh, basically, I mean, we're essentially DDoS ing the site, right, when we're... Like, I don't know, 25, 000 people clicking refresh at the same time. And like, I think that it's difficult perhaps for people in the space to kind of prepare for that. Um, but I also think that like, regardless if it's difficult or not, like. They've had 10 days to prepare and they knew what kind of influx there was last time around. So there's really no, really, really no excuse either. What, why do you think the community is tolerating what appears to be a third problem? Um, I don't know. Uh, I guess that, uh, like social fires, like, I don't know. I guess that people like money. Yeah, but how much money was lost versus how much money was made? Well, I mean, technically, um, it depends on how you look at it, right? I mean, Social Fi is a zero sum game, because there's no value being created. It's just being redistributed to other users, right? So, uh, I mean, you could argue that there's no value being made at all, ever. But, you know, that doesn't mean that it's necessarily all bad. Uh, in my humble, humble opinion... I, I think if you kind of look, if you just kind of really look at like, uh, like, you know how much people trended upwards, right? Like, like if you were invested in like Callo or somebody, like when they were at one Aax, and then I think callo into like a hundred Aax, like that's an, that's an insane fucking return. Like, you know, in comparison, I invested in Terra Luna at 88 cents. It went to 120 bucks. Like, that's similar to that. You know, in the space of like three days or some shit. So depending on, you know, who you are, who you, who you invested in and the kind of like, I actually heard, I actually talked to some people who were, who had already created bots. That we're looking at, you know, like top Twitter accounts and then they would get alerted once that top Twitter account actually was in stars arena and then they would just buy them immediately. Like, you know, if you're doing that, then you're doing pretty and you did pretty fucking well. Well, at least until all your money gets stolen. But now it's back. What up, Aaron? Oh, no, I was just wondering, like, uh, how, like, for instance, like, uh, Stark Arena, Stars Arena attracts you guys so much when Friend Tag does pretty well as well. How you guys attracted at first place? That's what I'm wondering. I'll take that one. So, I was not even privy to Social 5 prior to Stars Arena. Stars Arena like got on my radar maybe like two weeks ago. Like I just saw people, I saw a lot of people posting about it. And I had the, I kind of had the mindset of You know, it was, I figured it was kind of be like Threads, where like everyone's like, Oh, you need to get on fucking Threads, you need to get on fucking Threads. Like Nathan Nass was, when Threads first started. And then for me, I just was like, Oh, let me wait this out. Like, you know, usually things, usually this becomes just a trend. And then eventually the trend goes away as like we saw with the case of Threads. Um, but when I. Kept hearing about Stars Arena, you know, eventually I was like, all right, let me just check this thing out I then went ahead and put gogo pool on there and You know, I, I just had one initial post that just had like a AVAX is dead with just a picture of the daily transactions that AVAX had. And then, you know, Left Stars Arena came back 24 hours later and I see, you know, Google Pools account has like 11 AVAX in there already. And then I literally messaged my CEO and I was like, Hey, bro, is this real like this is like real avax like We just made like a hundred dollars in 24 hours And he was like, yeah, I guess it's real dude and i'm like that's fucking insane Um, so then I promptly signed my personal account up for it, which I got like two avax in there, you know I'm, not like a big fish or anything like that But you know just to kind of see Uh, you know, you're, you're posting so much content on Twitter and, you know, it gives you absolutely no monetary value whatsoever. All the value just goes straight to fucking Elon Musk's pocket so he can not give a fuck about us. Uh, and then Stars Arena pops up and I make, you know, one post and the next thing you know... 12 AVEX is generated in my favor, um, I thought that was absolutely huge. But I'm actually, I'm actually curious, Aaron, um, have you used FriendTag? What would you say kind of the major differences are between the two platforms? I see, I see. Wonderful, wonderful. Now, I was just wondering because when FriendTag was on like, uh, I was basically missing in the space for a long time. I wasn't in the crypto and uh, it gets big already and all of a sudden like, uh, somebody told me that Stars Arena has come out as well and I have to take a look at that and I realized that while surfing the UI actually to be honest, Stars Arena has way better UIs and friend tag, which caused me to wondering like how many different platforms are there and I'm doing some comparing and uh, Another reason I'm here as well. So, um, again, shout out to you. Thanks for the answer. So, so one of the questions that, that like I have about like this whole socialify and all these things is that uh, people have a finite amount of attention, right? And it is my belief that many of these things compete with each other, right? Whether it's, uh, Stars Arena, D Facebook, TikTok, Instagram. A lot of these things actually compete with each other. Especially given that, uh, uh, given that our attention is a finite resource. Why, why will people end up switching and staying with, um, something like Stars Arena or FriendsTech versus, versus Twitter versus D Bank versus any of the other tools that people are, are, are testing out now? I'll go ahead and answer that, my friend. Because I can, I guess I can ask, answer from more of like a content creator perspective. So, Right now, like, on Twitter, right, I can go ahead and I, and I've done this a million times, like, I write these long ass posts, man, and these posts, dude, they sometimes take, like, days and days and days for me to do, like, whether that's, like, because of, like, there's a lot of research or just doing a bunch of different drafts. Combing through every single line to ensure that it actually like makes sense and that is actually relevant to my audience. And, you know, I do all of this work and then I posted on Twitter and the net benefit, let's say, if I posted from Google Pools account would, of course, be if we got some people to sign up for many GGA Vax. That's fantastic. Um, and that's from just like a business perspective. So, right. So I'm on there. You know, from a business perspective, just marketing my business, and that's the value that I can get from it is there's this platform and speaking specifically about Twitter, there's this platform that I can put up a piece of content, uh, marketed to a large user base that that platform has, and then hope that user base didn't comes on and start to start to use my platform. Uh, from a more personal. Perspective, let's say just if I'm a content creator and I just want to post articles, uh, there's really no benefit like whatsoever that can really think of right now. I mean, if I'm if I'm a content creator on Twitter. You know, like what is in it for me? Right? When I post, if I spend five days on an article and then I post it and it gets 20 posts, it gets 50 likes. Like what is the actual net benefit? Um, yeah, sure. My brand is elevated. I might get, you know, some followers. Uh, I might get a lot of impressions. Uh, people might start to come to my page more so that, but that really is no net benefit to me specifically. I guess like yeah. You know, if you're going to do the long game, then that benefit could be well, hopefully a business notices me and then they then start to pay me to do posts. But when you think about like stars arena and these different like social fire, really in general, uh, it's really empowering the content creator, right? Like I could go and I can do this long post. And I can post it via stars arena and people have the ability to tip me money and then also they have the ability to kind of speculate on the value of my brand, right? Like, if people continue to buy into my brand, they think other people will buy into my brand. I make money off of those fees that are crude. Um, and, you know, like in the specific example where I talked about GoGoPool, where I put up just that one Avax is dead post, and next thing you know, like the next day, there's 11 Avax. In the account just from people buying and selling gogopool's shares Um, that's an absolute huge advantage. I remember literally talking to steven our ceo about and and being like wow, this could be an Actual new source of revenue for us And that being absolutely huge especially since you know specifically with gogopool We are huge about content creation. Like if you've ever looked if people ever look at our profile man, like You'll see all these different colorful pieces of artwork and all these different articles and video tutorials that we do. And if you go on our YouTube, we do a lot of videos as well. Um, and then Avax ecosystem space. You can see that as content as well. You know that. That is, that is a huge value that we're putting out into the Twitter world and Elon Musk is not rewarding us in any way, really, um, for putting that value onto his platform. So, I hope that answers it. No, that makes a lot of sense and I think it's interesting, right, because I, I, I understand how from a content creator perspective, it's like, um, it's, it's like when I'm, when I'm putting on content, when I'm putting out content, um, like allow me to make money from my content so I can see like realized value right away instead of like just creating brand authority in the longterm value. Whereas like Ferengi, who is a trader's trader and loves to just trade shit. It's quite different because for him Freddy, I don't want to speak for you But my my sense is that for you It's more about the trading of stocks and shit coins of any any other sorts of trading that like you would do But just on people's social profile is that is that correct? Yeah, so to be completely honest, like I I don't trade that much on uh stars arena like I think that it's fucking annoying and the main reason for that is that uh, like I don't know everyone goes into social fire with these like refined plans and strategies And i'm like, you know, is this a joke? Uh, because you know, I used to trade futures and options and shit and sure i'll have a strategy there But you know, this is like the mother of all shit coins. I'm just a monkey pressing buttons here. So by like 80 different keys at the same time. And then it's like, okay, how do I keep track of these? Can I have 80 different charts up? No, I can't. Like, is there even a shorting software for these keys? Like, no, there's not. So, you know, I, I buy a bunch of shit. I pray to God, I hope for the best. And then I lose, lose money. Like an idiot. I fucking go to Iraq, but you have to stay out. That's why. But, but, but it does make total sense. Cause like there, there's this other perspective of like, you've, you've, you've, you've talked about this before, uh, at review where it's like with go, go pool, you want to have like an information, like, like some, or some, some readers, some users, some, some content consumers want to have a way to. Digest the information and have information asymmetry and be able to, um, get their, get their latest news from the person directly. Right. And this is something that like Patreon has and sub sack is starting to have and things like that. So when I'm thinking about this model, they're like, we have the traders who are some people maybe kind of like franky, maybe not. Um, we have the content creators who are like, let me make some money myself immediately. Then we also have the consumers who are like, let me, let me pay to get the latest and the best information for people right away. Okay. And There's lots of these sort of tools kind of going around and no one has really quite solved it holistically in a way that allows people to get the information that they need across many of these different kind of networks and channels while still still allowing people to to, to have that social experience that they want. And it just seems like we're just constantly churning through these different channels, whether it's from MySpace to Facebook to D Bang to all these different things. And I honestly don't know if we'll ever hit one that works, because it feels like people just end up churning themselves out to find their new home. I 100 percent agree with that, uh, Alex. And specifically with the point of people who just kind of getting shepherded over to a bunch of different platforms and never really sticking to them, that's actually one of the reasons why I'm actually super bullish on stars arena. And I'll just go into, like, one specific reason why is they've given us this foundation, right? And you can now build upon this foundation. So if you think about it, like virtual query just came out with, uh, with something where it says it's They came up with charts, um, for different profiles and stuff. So like now you can go in and you can see the buying and the selling of that profile. You can see which profiles are trending based on 24 hours, seven days, 30 day, the same way that you would. And when you, when you really kind of think about it, like at the end of the day, there's really kind of no difference between the brand and the stock because the stock is the brand and the brand is the stock. So now we have all these people who have these, these large brands like crypto Calio and on stars arena, who people are buying and selling his shares like crazy. Um, are they all, are they all crazy? Or are, are they all actually just really, really early? Like, are we, are we really early to this thing? And as people start to build on it more, it's going to be a lot, a lot stickier. I think we're all crazy. I'll short, I'll short everybody. I wouldn't recommend shorting Greedy. You will not get a lot of money. You will probably lose. I think, I think we are still too early given, given everything that, that Goat said about the contract. Like, but the fact that they're getting all this attention and the fact that we're having a space about them at all despite, like, clear problems, like, just indicates that there's, there's nothing else going on, right? Like, there's like nothing else happening in the space. Yeah, dude, like, it's Stars Arena or what? Like, what else are we gonna do, bro? Yeah, well, that's the point, right? So, like, that's the thing. It's, you know, in some way, Goat said it's like, yeah, it is PvP. Like, I mean, look. What's interesting to me is that the larger narrative is, is crypto is just kind of going to be in a bear for a while and we're, we, this is the mantra that we hear and then the regulations are insane. Um, and then the, the, the economy as a whole is insane. You know, we're not going to expect everything to go up, uh, just sort of magically, like there's a whole war going on right now. At the same time, what's weird about it is that, um, I saw this report, uh, in the FinTech Times saying that they still think that the metaverse is going to be worth 900 billion within the next 5 to 10 years. And I think that's because capitalism cannot sell more things. We've run out of things to sell, so we're gonna have to sell shares or people or metaverse things because there's just, there's just not much, you can't sell more things, like physical things. I have a, I have a philosophical question for you, Nathan. Who is, what is more, um, valuable? The art or the artist? Good question. Um, it's whatever someone betts on at this point. I don't think the artist, I think the idea of the artist is completely bankrupt at this point. I I And that's, oh, go ahead. Go ahead. Go ahead. No, you got it, Alex. You got it. I, I actually, I actually disagree with this and I actually, um, I tagged Nathan and I tagged you Bre in a, a tweet that was put out by, um, fluke, uh, who is like the c e o of a gaming company and basically talking about all of this. Like what's happening with Chat2BT and how that's going to impact gaming and all these sorts of things and like time doesn't stop and development and things can have continuously gotten easier over time, like, like from wheels to fire to, you know, like cars, etc. I, I think over time it, it's not that, um, that the, the architect will always be more valuable than the artifact and that the, the artifact over time is just a thing until, um, until a new architect creates something better or newer. I did, I disagree with Nathan's take that, um, that, that. That, that we don't have any more things to sell. It's, it's like the metaverse is more about the fact that it's like a more, it's a more efficient, uh, way for people to live. And at the end of the day, people don't change. It's just that our platforms change, right? Um, people have always wanted to communicate with, like an example, that people have always wanted to communicate with other people. It's just before it was done via horse and carriage or letters. And now it's just done via webcams and holograms and, and, and, and like text and telegram and et cetera, or stars. So the point, the point I'm trying to make here is that, The, the architect of the, the artist is more important than the artifact because an artist can always, can always remake a new artifact and an artifact cannot make an artist. Yeah, but now we have self making artifacts, dude. We have, we have, we have a, we have, we just have an alien intelligence, AI, that can now make and destroy its own artifacts. Well, well, I got a little pushback for you on that one, Nathan, because...