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[00:00:01] Speaker A: Welcome to Crypto Talk radio, the podcast for everyday investors like you. Visit us on the [email protected]. And now here's your host, Leister.
[00:00:13] Speaker B: Thank you for that, Bailey. And welcome everybody out there in crypto Talk radio. [email protected] through the good, the bad, the happy or sad. Thank you for joining or joining again for Crypto Talk radio. [email protected] I have a lot of work that's going on, and I don't even mean the endeavor. I'm talking about the show and the brands. There's a lot of work. And then I've got to do personal stupidity. I've got to do the DMV nonsense and car registration for one of them. And I'm switching all my payout stuff to the business account. And so there's a lot on deck that's just getting in the way of me being able to calm down and read all the books that I've purchased. I bought a lot of books and I'd love to sit and just read them while money flows in with me having to not invest significant time. I'm not quite there yet, and you're probably wondering when you're going to get to that point as well, especially if you're looking at cryptocurrency to help you get there, and I can't help you in terms of when that's going to happen. All I can do is talk about what's happening, share my thoughts and what I believe is the case, and I'll give you some fair warning. The air conditioner, it may shoot on at points, and I don't know if it's going to suppress the background noise with my new microphone. Unfortunately, the weather is just having a problem. I don't know what it is because there's ice on the ground, and yet the air conditioner will gladly come on because it's getting warm and I can't explain it. I'm giving you the warning in case I get drowned out by the BS noise that is separately, just on a side personal deal. So I took one of the car, the car I don't want to keep. I had took him down, got some work done, and the guy was pretty good. I was pretty pleased with the support. He stayed after hours for me to go get the car and said, yeah, it's got a clean bill of health, no issues. And I had to get the there was a call type of thing I had to get done on it. So now I'm going to get a sign, put it out there on the car and see if somebody wants to buy the little guy. He's a great car. I wish I could, but it's just a terrible area. It's not the car, it's a terrible area.
I would easily be able to sell this dude if I were down in California. Easily be able to turn him over. It's just here. It just sucks out here. So what it so but I need to not have the second car because it's inefficient and geez, the insurance is nuts because that car is prone for theft. So I'm just motivated to get away from all that nonsense separately. I've saved up now and I just got notified by my contact.
Another check is coming into the business account effective Monday. I wish it were tomorrow, but effective Monday. And with that check coming in, I've got enough, technically I've got enough to buy a house or a condo or something. And I thought about doing that because although there are some positives to where I physically am in sense that there's some really sexy women, everywhere I turn there is that.
I can't stand it otherwise. Like it really sucks otherwise. That's all it's got going for it is the sexy women. I don't like package delivery, I don't like noise levels, I don't like some of these idiots out here. I don't like distance from shopping, I don't like the room size, I don't like anything else other than the sexy ass women walking around. So to me, that's not a strong enough motivate. If I was in my twenty s, that would be enough for me to stay at a place I'm just like, but I'm not in my twenty s. I can't just bank on that. I've got to have more. I got to be and do more. And so I'm debating. I'm debating taking the money I've got and then combining it with my other stashes that I've got. Taking that, creating the down payment, which would be 20% down off scratch. That's how much money I make and just calling it and say, just buy something. I'm really debating it. The only thing that causes me to hold off is location.
If I do buy something, it's not going to be anywhere close to my client. Like right now, I'm maybe 7 miles away from the client, which is convenient, but at the same time, I think it may be that. So the other update on that ties to the show and the brand. I've got a couple more cables and things that I'm ordering, and then I should be ready to get back on video. And I'm debating, I'm pretty sure bitchute's fine, but I'm debating all the platforms to do because I know there are some people that followed on YouTube, and I'm not doing YouTube because they rip you off. But I am considering other platforms and I'll let you know once I get it all settled and we're up, I have to do testing and electricity, make sure everything's good so we don't get blackouts or anything because I've got a lot of stuff running way more than the old place. So I am working to get back on video. I've not dropped that at all. It's just I've got all these personal things on deck that now have to happen because it took so long to get the heck out of where I was, unfortunately. So I am working on that. But if I choose to buy something, that means I'm going to have to tear down, uproot and move and then reset up the studio in the new place, which means I'll have to go back off of it again. So now I got to debate whether I even take the time. Now I'm not sure, but the positive of it is I'm not dealing with, as the kids like to say, bum ass Nevada. So that's a good just, I'm really frustrated that I had to do this. I'm really frustrated that the pandemic hit, because the pandemic is what caused a lot of this turmoil and stupid clients of the past them doing, you got to take unconscious bias training, deep, deep, deep crap that caused me to have to kill them off, and just stupidity that caused me to get away from the groove where I was really raking it well in. So, in any event, let's toss in cryptocurrency and see how cryptocurrency can possibly help us in our financial endeavors.
Did you notice that ethereum is looking amazing and bitcoin is not? So much so. Did you notice that Ethereum lost a little bit of its steam very recently? Did you also happen to hear, because I don't know, those listening to the show, and if you're new, welcome. Those listening to the show will immediately detect that mine is way different than anybody else out there, YouTube or otherwise. That's just the way it is. So you've probably heard somebody tell you at some point, bitcoin is the future. Bitcoin is the path. Bitcoin is where everything's going, but you're not seeing that translate in any of the graphs and you're curious why that is. But they keep telling you that bitcoin is the future. And I'll be honest, I do think that there's certainly for the larger players, and this is the flaw, but I think for the larger players, bitcoin is the end goal. It's the end game. It's where they want to be. It's where they're going to get the vast majority. But if you think about it, we talk about centralization all the time. We talk about how all of this wealth is centralized amongst a select few, the Grayscales, the Blackrocks, the Kathy woods. I'm tired of hearing her name. The Justin Suns, the CZS, et cetera. Right? There's a lot of centralization of bitcoin. It's owned essentially by big players. There was a time when it was owned by retail. It's not owned by retail. It's owned by institutional money. So if we accept what I just said, that it's largely owned by institutional money, it means that it's influenced by institutional money.
These organizations already are partnering with various influencers who may be spreading a certain message designed to harm sentiment, as in make you cautious about your strategy. It's up to you what you choose to do. I'm saying, and perhaps I'm tinfoil, I am saying that with the amount of bitcoin owned by these organizations, it should be a little bit concerning to anybody who wanted to have a decentralized future.
So when I looked at the graphs, and of course I am using coindesk.com and I'm zooming out to the month chart, I don't see any cause for concern necessarily. Bitcoin plateaued.
It did not sustain the upward run, and that caused some people some concern. A low of just shy of 51,000. A high of 52,000. Very. Again, it's kind of plateaued. It's kind of leveled off. Does not mean that the buying is not happening. The buying is happening. I actually just looked at my bitcoin etfs and they're back. They recovered some of the losses that they had. That tells me that some of these organizations like fidelity, grayscale and others, they're buying a lot of this bitcoin. They're stashing it. But you do have, and you will have a lot of sell pressure as people who, especially ones that bought in, maybe they bought in when it dumped at twelve. Or maybe they've had it for a while. Or there could be some that are just sold off the market at lower prices. Point is that buys are still happening. It's not that it's not being bought, so don't let the graph fool you. The plateauing is actually a good thing. Where you should be concerned is if you saw it, crap. And when I say crap, I mean from like 52,000 down to like 49, right, a significant drop. It didn't do that. So I not personally concerned, but it's understood if you're a little bit worried about the positive pressure and where it's going. Meanwhile, Ethereum did not hold its $3,000 mark as expected. A high of 3000, a low of 2900. And it's also roughly plateaued, but it's steadily going right back up to the 3000. It's just like $12 shy of the 3000 mark. So if you look at recovery over that span, which is about a day, the recovery is stronger on the Ethereum side than the bitcoin side. People started doing some digging. And the funny part, which I won't laugh, but it's okay if you do. But the funny part is that if you listen to my episode on cryptotalkradio. Net, very most recent, you'd have heard me say that I had a theory that some of the money was flowing into these alts, that Ethereum was always going to be the head of the table, that a lot of the money might be going into the alts first and then going to bitcoin, as opposed to the other way around. Perhaps what you're seeing is simply proof of what I'm saying to be the truth. And I can't say for sure. I'm saying that evidence seems to bear out, that certainly Ethereum is running the roots. There's a lot of stuff happening with the sharding that still ain't really happened, and other things they're trying to optimize for gas fees. And there's a number of tokens. So these are just regular tokens being released on the Ethereum chain. This is in spite of the recent pumps that we saw in Solana, with some of the garbage that came out of the Solana chain. And there was a couple of icos on Cardano, there was one or two on filecoin, there was one I saw on tron. And so this I describe as catfishing, and remind you this you heard here first the term catfishing to describe what may be happening with no evidence, but what may be happening in crypto, the idea that rich mother fathers are simply putting money and causing pumps in various projects in order to entice you to buy in so they can dump off you. I had no evidence of any of this. I'm saying I see this pattern that's a little bit too suspicious. I want to give it a term. Which was catfishing. Well, I happened to observe, hear, watch, read, and I saw a bunch of people who ultimately are saying, looks like there's a lot of pump and dumps happening right here. Yeah. And I called it out a long time ago. What I was seeing is pretty obvious. I didn't see a sustained climb. Anybody listened to me for a while has repeatedly heard me say, I didn't see a sustained climb. I challenge anybody to tell me that there was a sustained climb at any point in this recent run. And if we don't get to sustain, and I've targeted roughly $2 trillion in my mind, I didn't see Bull run. Bull run would be sustained. We're not there yet.
We haven't even hit that. We're still at, like, the 1.97 trillion to 1.99 trillion, and it doesn't seem to want to hit over that threshold. Well, part of this, when you look at where the money is going, which I think is important to understand what people are doing. So if I look at volume, the vast majority of it's going to USD tether. Second is bitcoin. Third is ethereum. Fourth is that damn. First digital, which is a binance stablecoin. Next is USDC. Like, really? So, okay, so what we're saying is that three of the top five are stablecoins. What does that tell me? It tells me that there certainly is not the same level of buy pressure that we saw earlier when there might have only been the two. Like, USDC wasn't anywhere up there before. First digital has been up there, and I think that's related to the binance, USD shift on the binance side. But USD tether was up there. Sure, binance is up there now. It still has this $1 trillion market cap, so it didn't lose the level that it hit.
But I would expect at this point that there would be more non stable coins in the top five. And I'm not seeing that, which tells me personally that there's just not the strong buy behavior happening. It'll probably get there. I just don't see it at this point. So time will have to tell. And there's a number of ones that are kind of scattered like world coin, garbage and others that are scattering up. But I think these are temporary pump and dumps. I think they're going to pump for a minute and then they're going to dump out. I could get that wrong, but that's what I see is there's certainly not the same level of buy pressure that we might have seen at one point in time. I don't think anything's wrong. I think it just happens to be the nature of what people are doing, as I describe it, catfishing. So there's still profit opportunities. If you're able to get in at the right time, there's still an opportunity for you to make some money off of these run ups when they happen. But you need to time it. You'll need to time when to get in, time when to get out. Resist the urge to just hold, especially when they tell you to do it. That probably is a trap. Resist the temptation to hold and learn when to take profits, as in, when it's up, you take the profits off of it, maybe leave your initial investment or don't, it's up to you, and then let it ride, or take it all out and move on to something else, because that's what we're currently doing. That's what a lot of people are currently doing. If you look at ones like Myro Bleeves, who's been on the show, he did an analysis. And if you remember, if you've heard me for a while, I was critical of, I'm like, I have no idea why people are in this myro business. I don't understand it. It doesn't make sense to me. I don't see it. But okay, there's got to be something, because people are seeing something. I just don't see it. Well, bleeds did an analysis and he was seeing, yeah, the market cap has dwindled to near nothing as a percentage of the market cap. And that usually indicates that it basically means that there's not a lot of money really flowing through it, and you're not going to be able to really sell out of it because there's not enough money flowing, so there's not enough liquidity to poach, in other words. So Miro has lost significance of its gains over time. And part of that was the initial pumps that were being triggered might have been a form of influence, as in a form of exploitation to try to get people to jump in there and then dump off of them, which actually happened to things like Kuma and others. So then when I'm looking at the MAGA token, which is the Trump. The other one, I said, I don't believe in that one. He saw the same thing. He saw that basically it was just fake pumps. That's what it was. That's what I saw. I'm like, I don't. Okay, Trump 2024, those pumps were legit. The thing is, there's not a lot of people in it. There's not a lot of people that were looking at it because of the MAGA one and the Trump 2024, the key on that one is Mexi holds the rest of the supply. It's like, it can't. What, are they going to rip themselves off? So I'm looking at that and I'm like, okay, this 2024 one, no, it doesn't have a lot of liquidity, but that's really because nobody knows about this damn thing. But say when I was getting in, I was able to get a trillion of those for $1,000. So right now it would cost me 3000 to get that same trillion. Well, that tells me that its floor has gone up. Well, how can that happen? It's not got any burns. It doesn't have any reflection. It doesn't have anything. That's because people bought in and they're sitting on it because they think it's going to go up with the elections and the court cases and everything around Trump. These aren't stupid people. But somebody on coinbarketcap even said the developer apparently forgot to hold some tokens back. So it's like community owned, not by choice. Like he'd have to buy in. He or she would have to buy in to hold a bag, but they can't dump off of it or nothing. Mexc could certainly dump off the project, but there's not enough, again, goes back to there's not enough in the liquidity for them to do that either. So then you look at it. So it can't really dump off because there's not enough money to do that. Certainly there are people in it, but they're not staked in enough. Like, they didn't buy in enough to really harm the project. And it's really a more awareness thing. Like, people just don't know about this damn thing. And so that's why it's kind of holding pattern. It reminds me very similar, it reminds me very similar of the early days of Shib, before anybody knew about that damn thing, when it was just kind of middling there, and then all of a sudden there was all that hype and all that whatever, and then people got in and started dropping zeros. That's what this one reminded me of. I'm not advocating for it. I'm telling you the story about why I got in when I did. And I don't even remember how I found it, but I got in because I saw something different here. Mexi holds the vast majority of supply. They're not going to rip themselves off. Okay? Dev doesn't hold any tokens because he was an okay. So I don't have a rug pull risk. All right? And then it's tied to Trump. It's like, jeez, this is. And that's what it was. It climbed, climb, climb, climb. And I was able to recoup every single dime I've ever lost on projects at that point. Okay? And then I moved on. And I've still been waiting for it to go back down to where I can get that trillion for 1000. Because that buy in would trigger another run. I already knew that. So I'm strategically looking at that one. But when he said that the MaGa one was failing, it didn't surprise me because I was like, this one feels sketchy and shady as hell. Not because of anything specific that they're doing. But it's not the same as this Mexc one, where it appears to me that Mexc created the damn thing. I'm looking at the dates, I'm looking at the contract, I'm looking at the fact they have the mass.
Like, it feels like they created the damn thing. Apparently there's another developer that was an idiot. Well, how could that be? These developers, they know what they're doing. So how can it be that this lone developer forgot to hold tokens? Call me tinfoil. So anyhow, that's what I'm seeing in the business, is we've got a lot of what I describe as catfishing. Got a lot of money that's going into different projects to entice people to buy in so that those people can sell and recoup and get some profit off of those. But they're like short hops. Nobody's really committing to anything. There's not a sustained flow of money, and we still haven't hit that 2 trillion threshold that I would like to see. As a result. I'm not sold that we're truly at the bull run yet. Bull market abs are fragging lootly. Bull run. I'm not sold. If you were to ask me, well, what should I do? I can't tell you specifically because I can tell what to do with your money. I can tell you this, profit opportunities are abound. A lot of these that are spinning up, the vast majority are not scams. They're just pump and dumps, which is a form of a scam. But it's not like they're maliciously trying to rip you off. It's all timing. It's a rat race. You get in, you get out. So there are profit opportunities out there. I wouldn't tell you to get in them because it's high risk, but you might be the gambler sword. For gamblers, there's profit opportunities all over the place. The key is to look for where there might be sustained climb as opposed to short pump climbs. A good example of this.
A very strong example. Very most recently. Ordi. Ordi. It's a token, it's a chain. So it's out there. It's currently holding at $65. It's got a billion in its market cap. It's got 4 billion in volume. What does that tell me? That tells me that this guy has a lot of interest, as in there's a lot of activity and people trading actively on it. Now, it could be ups and downs and everything else. That means there's profit opportunity, especially if you find it on these centralized exchanges, because if it happens to be on the sell side, you can short it. If it happens to be on the buy side, you can long it. And either way you can make some pretty darn good money. Right? So this is a good example of one where there's significant profit opportunities simply by way of the activity. It's got a lot of activity going on. It's listed on almost every exchange possible, so it's easy to find. They may not allow your country to trade it, but if it does, these are ones that you might look at to see, is there an opportunity for me to either long or short? If you're one that's a spot trader, it's not going to do anything for you. If you're a gambler. Again, the sky's the limit. There's all sorts of stuff out there that has opportunities for you to make some really good money, and I would hope that you take advantage of this.
As I wrap up here, I decided we're going to get back into the underdog tokens. We're going to get back to talking about some of these other one off tokens that I see, and I'm not advocating, because it's been a while since I've done this and we have some new listeners. I'm not advocating you get in it. I'm going to do a swag on it high level as an underdog that you may not be aware of and give my thoughts about it as a project, it as a token, whatever it is that they're doing. And your call to action then is to take a look at it. If it sounds interesting, take a look at it. Look for the fundamentals. Look to see if it aligns with your trade strategy. If it's something where you think there may be profit to be made, short or long term, by all means. But I can't tell you whether it's a legit project. I can't tell you if it's a good project. I can't tell you of anything. All I can do is say, here's what I see, here's what I think. And my gut instinct, a lot of it's gut instinct, especially when you're dealing with icos or tokens that have not launched yet. So I'm never going to tell you to decision. And some people are looking for that scapegoat to say, tell me what to do. I can't. It's unethical. And anybody who says that they can or will is lying to you or trying to teach you, in my personal opinion. So the token project I'm going to be describing is called drift token. Drift as in drifting? Right. Drift token. It's an ieo. So this project is around gaming. Anybody that's listened to me for a while heard me say, and this is ultimately the reason I chose this one. I believe that gaming is the next killer application for cryptocurrency. I believe many of the gaming companies are not leveraging cryptocurrency properly. When we think about free to play games, when we think about DLC, when we think about all these attempts to make more money out of the gaming business, there's a natural alignment to NFTs that they're not leveraging picture. I'll give you a scenario, and if you have kids who are gamers or you're a gamer yourself, like I'm a gamer, you'll understand this. A lot of people don't get this. Let's take DLC. Xenoblade Chronicles two is one of my favorite games. Top ten all time. They release a DLC and the DLC is meaty. It's got a lot. It's like 39, 99. It's got a lot of stuff in there, including Torna, the golden country, which essentially is a full game. But it's a massive release, a massive deal. Today for doing DLC, what do you need to do? You either buy it through the game interface itself. You have to go onto PlayStation store or Steam's deal or whatever, and you have to give over your credit card and all this nonsense to get basically an additional download. That's all it's really doing. It's just giving an additional download.
But at the end of the day, it's all software. And so the transaction of just, okay, I want $40 for the DLC and you get access to the software. Picture a world where these game developers make nfts available in limited supply that replace, and I put replace in quotes because it's not really, but they replace certain enhanced rewards above and beyond the DLC. So here's a great example.
Let's take the garbage that was Final Fantasy XIV. Absolute trash, unfinished trash. That's what it is. And we say square Enix. Now, if I were in square Enix leadership, I'd have been slapped each and every one of them. I'd stand them up, line them up in one line, and I'd slapped each and every one of them, just like slapped each and every one of them. Because this is common sense. I would have said, no, we're not going to abandon if you didn't know, because you're not a gamer. They abandoned other DLC. There was like three other dlcs because the game was unfinished. So they were releasing these dlcs and they're charging for each one of them, and there was three of them and they abandoned them. And it started because they had a bad strategy to begin with. They released this demo that I thought was fantastic. And then they switched gears. They fired the main guy and they switched gears. They do a whole different thing. And now a key part of the original intro of the game is cut out and made of freaking Blu ray. So you have to watch a movie to get that. And then they did a pixel game for another part of the story.
The main game is incomplete. It doesn't have a lot of the pieces. Like, there's one character, he leaves, he goes on a sabbatical, whatever. You don't know what happened to him. And they just comes back and one of the chapters is unfinished. It's horrible. There's places you see that you can't explore that you were supposed to explore. It was documented that you're supposed to go there. And because they canceled the DLC, the last parts of what they were going to do, they released as a freaking book. It was a nightmare.
Again. I would slap each and every one of them. Because Square Enix could say, we're going to release the last three dlcs as nfTs, limited edition nfts. We're going to mint only a certain limited number of these as nfTs, and it gives you access to the DLC that was canceled if you want it, because what that's going to do is if they do the NFT art properly, people are going to be clamoring for that. I think NFT is crap. But if I knew that it came with a limited edition DLC and I knew that I could sell that to somebody else, I could do whatever and not have to worry about this whole licensing crap. Can you imagine how that changes the business? Can you imagine how everything changes by simply saying you own the NFT, you have access to the DLC, and I can resell it to somebody else at an inflated freaking price.
That's the spirit, right? And you're like, less greedy. Yeah, it's capitalism.
So Square Enix doesn't know what to almost cuss what they're doing.
So when I see gaming projects like Zilliqa, they apparently backed off the console. I'm like, dude, why can't none of you guys get this right? When I see gaming projects, it makes me excited again, because I'm hoping that one of them will step up and get it done. So I see this drift token, and the drift token says they're openly, literally gaming. They released, they have a game, it's in its beta. It's available now. I got a down beef about that one. But it's available to play right now as a beta type deal.
And it's a play to earn type of game. So you can race. It's a racing game, obviously, the name drift car drifting. So it's a racing game. You can race against each other and you win prizes in form of cryptocurrency. And they're going to try to make it cross chain, just like you might have a cross console gaming, online gaming. This was interesting to me, wholly interesting to me of. Okay, well, all right, I like what I hear now, whether they can pull it up, I'm not sure. They're currently on phase three of the presale and what they're doing is they offered this, it's called an ambassador program of influencers. And what that is, is you get shillers, essentially, who entice people to buy into the presale and then they earn a bonus. That's done by lapse, and they earn bonuses for their outreach, and then they're doing an aggressive outreach to get the word out because the software is already essentially in beta. So there's not really much more development to do other than get the word out. They've already put some news articles out in places and decided in what they're doing to just say, hey, if you want to come and try it, come and try it and let us know what you think. And you can even join the ambassador program. Now. You don't have to wait for it to launch. You can join it. Now, the last stage, they're going to do a broad outreach through China. And so with China, you have a lot of exposure to the very influencers who would really be interested in these kinds of games because a lot of those influencers are really into racing games. So when I saw how they broke out the pre sale layers, it intrigued me in that there was some thought put into it. They didn't just kind of slap it together like some garbage. There was some thought put into this. And so I said, okay, well, let me dig a little bit deeper and see if it's worth what they're saying it is, because there's a lot of lofty sometimes there's a lot of lofty promises with these projects.
So then the other piece on this, like I said, you can play the game now. It's a beta.
Here's my downside.
I was going to go and just try it out, right? It loads in the browser. It's not available on mobile at this point. So all of you, cell phone only, people. And by the way, if you have at t, I feel for you folks. But see, that's why. [email protected] is all about landlines, and I'll die on that. Of course, when somebody who works technology tells you or warns you about a thing, you come back. Give my credit because I told you that cell phones are crap anyway. I feel for you if you're on at t and your stuff went to crap, because that's what cell phones do. Anyhow, this game is not available on mobile yet. You're going to need to pull out your old trusty computer, the computer that's helped you get through college. You got to pull it out, dust it off if you want to try the game. But jeez, I couldn't get the thing to load because I have a high end computer. What happens is it has to download all the stuff. I don't even think it's downloading. I think it's doing something. I don't know what it's doing. It can't be a download because I'm on fiber. I'm on five gig fiber, so it cannot be download. But it took, I waited probably like ten minutes, and it looked like it was probably about 20% done. I'm like, screw this, bro. So I'm warning you, either there's something weird with it, like maybe something with their server or something else or something with the browser or whatever. So I wasn't able to get in. But I do see footage of it. I wasn't impressed graphically with what I saw, but it's a beta, so I'm going to give them a slide. I think there's a little bit of a fun factor for quick, like an angry birds kind of thing. There's a little bit of a fun factor to go, especially if you're earning crypto to do it. It's just a simple racing game. I just wasn't impressed with what I saw and what I know is possible, but I think we got to start somewhere. So I was willing to give a chance. But if they ever hear this, they really got to work on that optimization for the game load because it takes too damn long for that game to load, and it's inexcusable when you've got archive.org that has full freaking emulators that load lightning fast. There's no excuse for what I saw in the game speed for loading this business. So I don't want to hear it. We need to fix that business. The names of the people are on the site. Joshua Shand as interim CEO. He's got a LinkedIn profile. He's got an X profile. Apparently he runs the x account for this drift token, and not many people know about it. Doesn't have a lot of followers. So I don't know if something went wrong with their Schiller outreach. I'm not sure. There was like 100 followers on the damn thing, so that was strange. Paul behavaland marketing. Michael Tabone on strategy. Sophie Hendry on design. Again, LinkedIn accounts on all four of them. X accounts on all four of them. I didn't see a telescan, which was good. I was like, yay, Hercules. Hercules. I did not see any telescam. That was excellent. Let's see, token breakdown. So they allocated 57% for the presale, 21% for liquidity pools, 13% for what they call the reserve tank burning, 5% of it, and 4% for the ambassadors. Ambassadors are what I described before as then they can get in, find people to buy the presale, then they get ranked and then there's bonuses that are paid out. That's what that's referring to a liquidity reversion tax, a revenue share tax, a gain pool tax. So there's a 5% tax. It does not specify. So I'm assuming it's both buys and sells, but it might only be on the sell side. I don't know. It doesn't say the taxes concern me only because when like let's take game pool, if there's taxes against the game pool, what exactly does that mean? Does that mean that as you play it'll tell you that you earned $5 worth of it, but you're going to get dinged 3% of what you just earned? Because that kind of sucks. That that's what that means. It doesn't say, it doesn't specify exactly what it means by game pool tax as an example, and it's the largest of the tax breakout. So I'm not really sure what they mean. I don't really like it. So if they hear that, that's my concern. I kind of understand, but I don't like it. Use of the funds for the presale, 44% to set up the liquidity pool, 28% for the marketing wallet, 17% for developing and then 11% for listings and partnerships greatly concerns me. Here's why I understand what they're trying to do. I think the breakout is a little bit, is underspeked and it's a problem, or would be a problem because it makes an assumption about how much is going to come in off the presale and that has not borne fruit as I see it. So your development being 17%, I understand it's in beta, but from what I saw, you got a lot of work to do. You need a lot more than 17% in my opinion. Listings and partnerships, if you want this thing to really thrive, you're going to need to get on those central exchanges because descend is not going to cut it for this. You're going to need to get more exposure because that's the only way you're going to offset the harm that's being done by the other percentages, as in gutting the development as an example. So listings and partnerships of eleven to me is too damn low. Marketing at 28% feels high. Like if I were doing a breakout, I would cut down marketing. Marketing to me should be like the 10% or whatever and I would split. So say development goes up to say 25. Listings now can go about to 20 ish and maybe slice the initiation lp down to maybe 40. That gives you a nice, real good blend of saying, all right, we're going to do about 10% of marketing, we're going to do more on the development side, and we're going to do more on the listing side. Why does that make sense? Because your listings are going to give you marketing by default. Those exchanges are going to shill that damn thing. So it's a free quote, unquote, form of marketing. But your development has got to be rock solid. If that game's not rock solid, it doesn't matter how much you sell it, right? And it doesn't matter how much you market it. So to me, the marketing upfront for presale should be less, because it doesn't really matter as much as I think they're making it out to be. I would much rather see a different breakout for how the presale funds are going to be used. That's my only beef about it. The last concern I saw on this was they had four ways. They had emphasis on past tense, four ways to purchase the coin it was going to be on, as apparently it was supposed to be for where it's listed on the chains. Another project did this and then they forced everything to Ethereum. That was Reddick. Right. So Ethereum, binance, smart chain, polygon, and then pulse chain. Pulse chain is disabled. I don't know if that's because they decided not to do it or they don't want any more of it. I'm not sure. I can't say. I can't answer that question. It looks like a total supply of just over 1.3 billion ish. So it looks like. And then when you buy in, if you do buy in and you do your tokens, when you claim, they give you two options. You can claim it as a stake and there's a concern there, or you can do the staircase, basically, the vesting structure. The vesting structure has a weird gimmick where they say, we'll give you a portion of them, but it has a 25% sale tax, which is horrible.
The reason I said there's an issue, it says, okay, you stake it. You get a minimum 1.120%, rather apy for Ethereum, but only 20% of the sale can be staked, and it's currently showing 37%. So I take that to mean their interface is kind of clunky. I take that to mean that they're not going to let you stake because too many people are staked. If that's true, you're forcing everybody to eat of 25% sell tax up front. And I question why you would want less stakers. Because the stakers go to stability. What I would have done, if they're listening is I would have built a staking mechanism that has a minimum duration. I would have said, if you choose the staking option, your stake has to last for a minimum six months period. If you choose to do that. Otherwise you can do this dynamic selfie structure, but there's no limit on how many can be staked. Because when you do that, if you said you know what you can stake or whatever, I know the reason, the likely reason, they didn't. But if you do that, it's going to increase the stability of the project. In their notes, they called out that they did this on purpose to mitigate immediate dumps. I think it's going to have the inverse effect, because I think there's going to be people who skip the presale because they see that the claiming options are not to their advantage. It's really to the house's advantage. Whereas if you just did a staking deal and it just has a minimum duration of stake, period, there's no upper limit, there's no nothing. And everybody's going to choose that because they're going to get 120% API of Ethereum. And you can do the Ethereum as basically reflections to them, then they won't care as much. I think, and it actually is more enticing. Nobody's ever done that on a presale of we're going to pay you for your staking on a presale. So you're going to benefit even if you can't dump off of it as a disincentive to dumping it. That's my thought on this guy. So drift token, if you want to check it out, Drifttoken IO is its site. I do recommend you check it out and see if it's something that makes sense for you. I probably would not, but it may make sense to some people. I think it's just a lot of fundamental mistakes. It doesn't have a lot of interest, it doesn't have a lot of hype. That's why I chose to cover it. Now, I'm always supportive of these gaming projects to see if they're going to succeed where Square Enix and others have failed. The other note is, cryptocurrency is in a rough spot right now. It's going to recover. It'll get better. Be patient. Just be patient. Watch and see. It's going to get better in time.
