Should Jay sell his Moonbird?

Transcript

Gian Gian welcome to web3 Academy your one trusted source to capitalize on the next big says of the internet don't get caught in the hype cycle I'm Jaybird joined by Michael host Kyle Reid head and we believe that nfts are going to change the world that's why we're carving a path for doers to confidently build and invest in web 3. now when I say that we believe that FTS are going to change the world do we believe that all nfts are going to change the world and more specifically do we believe that all nfts are a good investment and what do you do if like me you invested in an nft that is now down

90 percent what do you do do you sell do you hold how do you answer that question that's what today's show is all about today we are talking about should I sell my moon bird we're gonna dive into what I bought my moon board we're going to give you context on the investment I made and set some context there then we're going to talk about the most important thing how do you make an investment decision to sell something especially when you're down bad what are the questions you should be asking yourself how do you build a plan when you make an investment and then when you need to sell it how do you make that call because it's real hard to make the decision to sell something when it's

down we're also going to talk about Moon Birds particularly and what that project has done well and what they have done poorly and where they're at now and then we're going to talk about what do you do moving forward when you do make a bad investment and you need to sell it how do you value it at that point of that sale do you value it based upon your original investment do you value it based upon what it's worth today these are the questions we're going to answer in today's show so today's show is for any investor we are talking specifically about my moon bird to use that as an example of how you would make an investment decision when that investment decision is bad but this conversation

applies to all Investments you're making and not just nfts it also applies to other fungible tokens Investments you might make within a blockchain or within a app token or an altcoin all of those apply to today's conversation so it's a good one before we jump into Today's Show I need to tell you guys about something really exciting we're doing right now and that is we're giving 33 off pro for life and you only have 24 hours left to get in on this deal this is your opportunity to invest and build successfully in web 3 by looking on chain you're going to allow us to do that for you every week so you can

Thrive and you can capitalize on being early in this space by growing Pro today you'll start to receive a weekly Unchained report that's packed with industry insights and you'll also get access to all of our Pro meetups in Discord where we go through these charts where we tell you everything that you need to know to be investing and build date successfully so let web3 Academy Pro keep you away from the height cycles and let us help you make the most out of your time in web 3. lake is in the show notes 33 off for Life make sure you go pro today later on this week we've got a report coming out about all chords that

you should be investing in we've got an event coming up in the next few weeks in our Discord so you're going to want to go pro take advantage of this discount don't miss out might not happen again let's take a minute to hear from our sponsors before we jump into answering the question should I sell my moon bird the future of social media is here and that future lives in web 3 on top of lens protocol web 2 social platforms are broken and right for disruption you see the epicenter of social media is the creators and yet they are the most neglected web 2 platforms like Facebook Tick Tock and Instagram are all essentially robbing creators of their worth creators are a new type of entrepreneur forming new types of businesses yet with web 2 platforms

creators don't own their content to the profiles and that's their product in business instead they are tied to the platforms they choose to create on well just like how crypto is freeing us from Banks web3 is freeing us from these centralized platforms on lens protocol creators own their content own their profile and even their social graphing followers in the form of nfts this allows you to move freely from one social application to another with your content profile and followers moving along with you lens protocol enables self-saverty for your social graph and interoperability across the internet at web3 Academy we believe this is the future of Social and that's why we've partnered with lens to ensure that the path of social media is heading in the right direction visit lens.xyz to learn

more today did you know that web 3 users lose billions of dollars every year due to phishing attacks if you've been in the space long enough then you or someone you know has probably Fallen victim to one of these scams this is why we've partnered with Weg your guardian in this digital Wilderness wag is a tool designed to help you spot the difference between malicious links and legit ones with wag you can rest easy knowing that every link you click on is safe this is an absolute game changer for web 3. as part of our partnership with wag we'll be using their platform to create verifiable links to our community feels safe knowing that what they're clicking on is the real deal if you don't have a community to protect and you're just looking to protect yourself wake has you covered with safe stops which tell you

exactly who created the link you're clicking on head to the link in the description click it see that it's verified by web Theory Academy and start protecting yourself today just use the code free 1000 when signing up and if you're among the first 1000 users you'll get free access for Life some Jay my name is know it's a question of the day whether or not I will say you got to listen go Jay and I will break it down as best we can and I'll see what we come up with we actually have no idea we didn't I mean we've obviously planned this out a little bit in terms of what we're going to discuss but MJR and I have not decided if he should do this and we haven't really had any discussion so I'm kind of excited to do this lot I like

how it's you're also like uh like we're deciding this together yeah I've thought about this so much like so much so quite honestly like I'm stoked to get a 30 minutes to an hour focused on me and whether whether or not I should make an investment decision I wish I could get this every time investment decision full disclosure called Jay to sell his Moon bird when it was what 20 25 when it was early 20s yeah and I told them to sell which is not the very top I went to 40. look for how long did it wasn't there very short right right so 24 I would have gonna hello so okay so Jay reporting you give him back on first these are meant to be 30 minutes to be enough 30 minutes to now we gotta get

30. I know that you like to go along and you went longer the last space a couple weeks ago I'm here to tell you you got 30 minutes to make your decision okay okay okay okay let's do it all right you want to lead us off yeah okay let me give some context before we really jump into the conversation I purchased my moonberg on April 16 2022 so just over a year ago for 8.58 slightly below 8.58 but let's call it 8.5 e at that time the price of eth was 3 000 USD so my murder cost twenty five thousand dollars not exactly but let's round it to make it easy the floor Moon bird since then has gone up to 40 East today

it sits at 1.90 wow and by moongberg is not rare it's Rarity rank is like in the middle it ranks like 5 000 or something like that it's basically a floor Moon bird it's not if it doesn't have the value to sell above four and I have nested my Bluebird since the beginning which is the staking staking function of the moonbird ecosystem so there is value as a result of it being nested although as we'll talk about the so far value abbeyan nested Moon bird has been very minimal it has not created the

return that I thought it would create as was indicated by Kevin Rose and the project founder sort of in the beginning let's just add a little more context for those that are listening and we'll be listening to the podcast the reason we are going to do this together is we want to have a discussion around how do you know when to sell something right and actually when the hype second comes believe it or not we find ourselves buying things that either go up or down and the king I think most of them struggle with is Monday so whether it's up do you sell any 2X and 5x 10x 100x whatever hopefully you're selling you could ever get 100. you can post down 50 80 90 I don't know what yours is down now Jay over at 99. we decided and Boston time these conversations there

had in terms of like fungible tokens so like eat and whatever else you don't think they happen Austin and nfts so I think we will have our conversations yeah and see I think it's open for discussion if anyone in here has some additional thoughts to add on to what Jay and I said when and pre-share as well but hopefully this gives some people some help I had last piece of context Jay you said your mood board the one that we're going to discuss was three thousand dollars per each when you bought it you bought it for 8.4 so 25 000 just so everyone's aware Jason billionaire everybody means like a multi-millionaire everybody I need to do this like 25 000 helps I guess would you say Jay is a lot of money yeah yeah not like you just discussing this of like just this is played money for him that

was um well I'm a pretty big investment for Jay in his current situation we're in a situation about um but it's one of the biggest Investments I've ever made at the time of making it within a week I got like I was like a genius when you invested did you think that you were putting in 25 000 or did you think you were putting an 8.48 no it's just very different I thought he was putting in 25 000 okay you were thinking in New York state terms I thought about in USD terms yeah for sure I tend to the my investments in USD terms just because it's a baseline that every investment whether it be a crypto investment or whether it be a stock investment or at a real estate investment everything can

can be can come back to that okay so as we sort of analyze what what J should do the things we want to look at are how are markets doing that'll help you understand like if you hit sell or not how are markets doing overall you know you want to look at obviously the nft project itself how's that business doing which we'll we'll dive into talk about that what's happened since launch of course and so let's just start there just to give some contacts for those that maybe don't know a ton about Moon Birds J you know since you purchased G7 was just over a year ago I think it's April of 2022. there's been a lot of up and downs in the world of moon Birds to say the least why don't you walk us through a little bit of that journey and try to give us the calls notes don't go

too heavy into it but just give us the calls notes of what sort of happened along that Journey yeah so I would say that there's a it's a great question when you're analyzing any investment decision it really comes down to looking at the business right understanding what is the business done and what do you believe they're going to do in the future so what have they done so far to be honest I would say that moonbirds is one of the you know in prepping for today's session I realize I think they're the worst managed Blue Chips project in this phase which is great was it azuki more than azuki yeah I would I don't know actually no not more than azuki it is a difference I expect moving Birds to be a well-managed blue chip project because they are managed by the most experienced team in

the space like they're more experienced than yoga labs and now you the labs more experienced because they have since their Founders are no longer running the company now you go out is broadened by Daniel Alegre an incredibly experienced team but moonbirds was founded by some of the biggest and brightest Minds in web 2 Tech so they were very experienced azuki was founded by a bunch of djans right so I have less expectations for them right but anyways it's crazy to think about their experience and say how poorly managed they are here's the main things that they did that were that have led to their downfall in my mind not external things like external the nft market blur everything that's happened

external to the project that has impacted the floor price of all nfts but particularly Moon Birds but it within the project first they changed their Vision completely originally their Vision was to build a metaverse it was called project high-rise now they're an art collector's Community complete shift in their Vision I did not buy a moon bird to join an art collector's Community I'm not in our collector I think our collection is great and I think it's a great use case for nfts but that's not why I'm here and I think that's the case for a lot of people in the community as well I think a lot of people in the community are sliding to become our collectors because they sort of feel like well I bought into this here we go they changed their IP from nft older's own IP to cc0 this was

absolutely horribly done they did it without communicating to the community like it should have been a community vote it should have been something that the community got involved with but okay they decided for whatever reason that they thought switching to cc0 is a good idea okay I trust Kevin Rose I believe in him well I expect to see results as a result of that decision and I have seen no results I would have thought that the point to make turning to cc0 would be that they had plans to proliferate the brand across a whole bunch of different platforms where they were like oh if we're cc0 then everybody will use Moon birds and put them wherever and there

are and we have not seen that at all not nearly to the degree that I would have expected so I don't understand why that made that decision nesting is their staking system 88 of moon birds are nested currently that's an incredibly High number it's not exactly 88 it's like 87.6 or something like that but that's incredibly High number of states members and I'll tell you why because at the beginning Kevin Rose set expectations and this is where he made a bunch of mistakes and you should be very careful of your project founder about his setting expectation he took board APR Club as an example and said well boarded Yacht Club you got a unique or a kennel dog regardless of

when you or you got eight coin regardless of when you purchase you eight and he was like I don't think it should be that way the oldest holders should be rewarded which I agree with there is you should always benefit your you know your original community members the most so everybody staked right from the beginning and so far there has been pretty much no very limited all we've gotten for staking is like I got a hat I got a Sani pack I got stickers so I better function like useless merch it's almost like slap in the face and recently they did a art exhibition where they had like 15 different artists and you got air dropped well you get air

drop you got to enter a lottery and pick you rank the artist and then basically on your ranking you got airdropped a piece of art but did you go on all these pieces of art our worst like nothing like they're worth like a hundred bucks so it's not like there's a lot of value there one thing I would say Jay before we move our news nfts itself are something very new right so expectations on nfts need to be need to be limited right now it's not to say that they're not going to be widely successful and if none of these are going to work out but it's just the fact that hey these things in general are just new and so we shouldn't really know what to expect and it's hard to value that right but the interesting thing of what you've kind of explained in terms

of cze Euro nesting is they were funding not the very first to do cc0 but pretty early or one of the first to launch that also one in the first to launch nesting for nfts so completely new Concepts and experimenting with those which I think is a bonus that is a good thing though of course never been done before so we we got to have expectations quite limited on both of those things I can see other the other thing to discuss but I think that does show like the team has some balls and they have some Innovation which I think is good if you're measuring the team well again we'll talk about things that you should measure in a second but let's just finalize kind of this like what's happened with moon Birds what did they make during the race so that we can kind of understand what

their capital is like and what have they done since either with that money or to make more money or what's the situation financially yeah so they made 66 million in the mint and they've made it's difficult to know exactly how much they've made from royalties because of so many platforms going to zero royalties they have a five percent royalty and they've done over 200 e in secondary sales so if they got royalty on all of it they would have made 20 million in royalties so they've done 10 million of royalties so I put some up to 76 million dollars that they've made from the NFC and then they also raised 50 million from Equity investors uh which I would say so they got a ton of

Runway Kevin Rose has said they have runway for 17 years which is part of to be honest why probably the easiest reason why I have it sold by Moon bird yet when it started taking is just if you have 17 years of Runway well I would hope that somebody as capable as Kevin Rose in 17 years can figure out how to create a business that is profitable and sustainable will it bring value back to my moon bird I don't know that's a big question I have okay so some wins some losses I'd say let's just talk about the overall when you're thinking about valuing or just deciding what you should do with really any asset I guess kind of the main thing to think about is like is it the market that has made the price so

in this instance we're talking about selling when it's low which often don't want to do but there are times when probably you should just get out and so when you're in a low or when you're high you want to ask yourself like is this investment down because markets are down like in general are all things down or is it just this one thing right and then the next thing you want to ask is is this thing down because of problems specific to the business or to the company or to the project or whatever it is right has something happen to the company that has caused the prices to go down and then if something did happen is that just fud meaning like is that just people getting scared like I mean for example coinbase getting sued by the SEC coinbase is going to get through that so

a lot of people sold coinbase and that's just flood right they're very legit business they're doing really well they have tons of revenues and so like people selling that are doing so irrationally which means okay people sold coinbase and down 20 you probably shouldn't sell if anything you might want to actually buy more right so these are the things you've got to be thinking about like why did the price go down was it because markets was it because of some of the company or was it just flood and so we'll kind of break those down and talk about that a little bit but just to give more explanation on that and more context there think of like when I say are the markets down we think of like over the last year and a half you know eat is down you know what like 80 in

2022 yet the fundamentals of it let's say it's a business you know or a network the activity's gone up the fundamentals of it have continued to improve ethereum has shipped new products you know they they did the merge they've continued to improve the business and the business model over time even though the price has gone down but the prices and everything has gone down all assets so what that means is like that's not a time you want to sell prices are down it's low but there's a good chance it's going higher because it's continued to shift it's continued to gain market shares continue to improve its product so on and so forth right whereas if East went down 80 percent but nothing else went down 80 percent and it didn't ship emerge and market share started going to Solana or something else okay that's probably time

that you like want to think about right so anyway these are just some samples of of how you want to be thinking about what's happening with an asset and so in the case of moon Birds it's a little bit tougher to understand fundamentals because again like we just said it's so new we can't really look at revenues because it doesn't have any we can't really look at the business model because it doesn't have fun so you got to kind of think well what can we look at what fundamentals does it have and Jay what I would say It'll ask you these questions in a second but what what I would say we can look at in terms of a newer nft is something like what's the vision in the execution of that Vision how is that going you sort of touch on that but we'll go further you can look

at the team over this journey are we bringing better people towards a team finding better people to join is it losing some of it's good people has it lost some of that good team that you originally invested in so like how's the team doing you can look at the community or the fan base is that growing is that shrinking are they committed are they you know Fighters going through it you know if you think of Bitcoin when Bitcoin has gone down 95 multiple times you have these like extremely like committed user base that's like doesn't have that kind of community basically happens so there's something you can judge because ultimately the community is going to drive the revenue or wherever this thing's going to go and then you can also look at treasury which we just sort of discussed as well those are kind of the big fundament I would

say have on on at least on moon Birds currently so Major League we walk through this unless is there more things you would maybe want to look at too Jay I think those are great the only other thing I think you can look at is a product Market fit I have they achieved which in the case of nfts is tough as you said right but I think we can say you know we can at least evaluate like have they achieved any product Market fit do we feel like they're on the way to or is it just purely experimental and I think really all this comes to understanding the risk level of an asset which if we go back to your original question Kai of like how do you decide when to sell an investment one of the things that is

key when you're making an investment is to understand the risk level of that investment because that will impact your decision making right so if it's a less risky investment you're probably less likely to sell as quickly right whereas if it's a high risk investment you need to be more on the pulse and making decisions quicker which is child right and then one more thing I just would say about and we could talk about this later but like when you're figuring out how to sell an investment another decision I always think about is where else could you allocate that Capital right so because I think that sometimes you're like well sure maybe Uber comes back maybe it doesn't but I'd be better

off just holding eth at this point because the value of each long term is going to be greater than the value of the birds right that's a very good point because you gotta think you're going to sell it into something maybe it's a US dollar maybe a teeth maybe it's whatever at home so how's that going to do in in the current market and then to wrap this up and then I'll ask Jay those questions and like we said this is how you figure out the fundamentals the markets of course I think we all are aware if you have any nfts are really bad right so what we're trying to figure out here is is this just a market driven price drop is that why we were just down or is this thing dropping because the company is is losing share and losing product Market

if it even has that and so that's kind of what we're trying to decide the Market's obviously down down across the board so we know that that's part of it now we've got to see is when the markets come back and does this for particular project come back with it which many will not and so again this is why you need to go if it was a good team if it has money if it has a good Vision if it has private Market fit in your community it will come back right like we've seen with e like we've seen with Bitcoin through many cycles like we saw last cycle with Solana and with Dino Swap and many others and now we haven't had a cycle in our teas so we don't know we don't know any of them will come back to be completely honest but that's what

we're trying to figure out here so Jay let's talk I mean Vision you've sort of already discussed that but that's the first one we just mentioned give us I don't know you want to give us a rating your thoughts what do you think of the vision and execution of that vision yeah I think that the I would give it like a three out of ten very low division was changed since I purchased right so when you change the vision I mean yes it's super low it's an investor like it shows the riskiness of investing in nfts right like I bought something where they didn't even know what they were doing to the extent that they completely changed right so that sucked the execution of that Vision also fairly low to be honest now since they have adjusted to the New Vision I would give

them a good grade but this is where like time is so difficult because they changed the vision in April of this year so they have literally had what three four months to execute on that new vision that's nothing that's not enough time right so that's where it's another challenge of investing in Risky assets is like we expect these huge returns and we've seen these huge returns in nfts and in crypto in like months and so we have this expectation now but when you think about it like when I've done other startup Angel type investing where I've invested in in a business as you know getting Equity early on you don't see anything for like you know three years

not to mention it's not like you're an experts Invasion or execution of either an Auditors or an art community so this is why you look more into the team the community the treasury the part of the market set because like if you were an expert in Vision you could judge them on their Vision then you probably should just start the business not invest in it you know what I mean so it's tough to judge people in the vision because I mean look Remain the biggest companies in the world change their their Vision I mean meta which was originally just around Facebook and social networks is now moving to VR right in Bitcoin which was originally stored about well it was originally payments then changed their Vision to store value and is now all of a sudden has this like potential change of let's make all things on chain like

what do you ethereum is going to do it's like these things change all the time so changing vision is not necessarily the problem it is executing that matters and like you said it's too early to tell there so okay so let's cross that one off of not really super relevant though I think what is relevant is especially as the amount of tea thing this is more Community Driven and so the community you are looking for was building the metaverse not art because you're not part of art community so you might be less relevant to you and maybe something that you know less about so you might actually not want to be invested in it's unfortunate they changed it on you but that's life well what about the team you said the team was the thing that brought you into this in the very beginning has

that developed and gotten better over time has that gotten worse or what have you noticed on the team side of things Moon Birds yeah so you might give it a seven strong team still Court team around they've continued to add to the team nobody notable uh like no big splash names but I don't think they need a big splash game because Rose is their leader already and it's you know he's got huge presence on social media and online so he he does what you usually need a Visionary to do so I would say I kind of go in the middle you know it's not a 10 it's not they're doing good but not exceptional the one thing I would say about the team is they have really focused on the attack side of things

which is very challenging as a and a tea holder because nft Traders do not care about that I bet you their investors care about that so that is great for them as like they did this huge thing around on Chain versus in-chain where they became one of the first projects where the actual nft metadata is now stored on chain so it's immutable whereas most projects the metadata is not sort on chain the bits basic example that was artifact when artifact changed one of their nfts to look like LeBron because they wanted to give an entity LeBron and everyone was like oh wow you can change the metadata so they did all this work around that which like okay great that you did that work Euro value

to the nft holders though right right I could give a what but maybe that Tech has value to the business long term because they can sell that Tech or monetize that Tech in some way I'm not sure right okay one thing I think those that in here want to understand what investing is a lot of it comes down to psychology a lot of investing books you'll read you got to learn a lot about psychology of your own psychology but also of others the one interesting thing that comes up from this Jay when I hear this is you were super bullish on the team back when you first bought this when there was all this hype we were in the middle of a hype cycle at this point nfts in April 2022 and so there was like oh my God Kevin Rose this team like they're gonna take this thing to the

moon the team hasn't changed but the price has gone down 90 and now it's out of the team's not that good right but the team actually hasn't changed so this is more of a bias usually what happens is when prices are down we think worse when prices are up we think better even though nothing's actually fundamentally changed on that specific point even things of like Revenue you'll think it's very very good when we're in a bull market because the asset price showing up even though Revenue hasn't changed when assets go down all of a sudden you think well that Revenue isn't good anymore and it's like well technically it's actually the exact same but again psychologically feels different and so that's very very important for you to for investors to just be aware of their emotions their feelings because we tend

to have these emotional biases depending on the swings of the market or the price which is often why people buy when it's high and sell when it's low so a big thing to just keep in mind always try to check yourself whenever you're investing in anything because it can swing big time all right so 7 out of 10 for team Community there's a big one I think one of the most important for this ah you know what I don't want to say the most important but definitely important for short-term swings of the price of something I got out to you which is very illiquid the community and and that really really matters for the long term not as much because again like Jay just said the team's building new tech they're building something that we don't even really know yet so like how relevant is to me in that sense right

now other than the community to buy and all the notes which makes the price fluctuate which is short term none of that really matters now because it's in five years from now the thing they build succeeds well then this stuff's going to be valuable because we're going to bring in new community new fan base in five years from now whenever this launches right so we also gotta think of that as short-term and long-term stuff that matters here but let's talk current state of community fan base they had a lot of height back in the day when it watched there's a lot of people pretty excited about when Birds wear us things at now with the community yeah I don't know if I can give a score to this because there's so many angles to look at Community from I guess the only thing I could give a score to like

brand sentiment you know like how do people perceive the brand which I would say it's low right like you know it's probably like a five because of all the fud and all the missteps they've made in execution right from the cc0 to the lack of rewards for nesting to canceling their conference right they've just done to changing their their mission and vision they've just done one thing after another people have been like what the heck so I would say they're somewhere in the middle but that being said they had 88 of holders have state since the beginning so that's a very strong

community of holders quite strong not as strong as some other communities I know that like d friends I think has the strongest number of like purchased people who purchased and then held all the way through I think it's up like into high diabetes but I'd say it's it's a fairly strong Community to be honest like that has not really changed despite all the fun especially despite all the fun actually you would think if this had happened to another project it would be zero you know what I mean there's so much trust and belief in this team that they continue to have a very strong Community behind them so but are they is the community happy no but at the same time it's amazing to me their amas their

Twitter spaces their Town Halls still time to people show up to those still tons of people are talking about you know how they believe in the team long term so yeah I know perception and sentiment low but Community I can give him a high Mark probably like a seven or eight cool interesting okay the last one that would be treasury okay so we have a strong team with a good Treasury and our big treasury in the community and the I guess Vision has been ups and downs a lot of ups and downs and so that's where we kind of got to decide from well what do we do at that point right and I guess the question is when you purchase this what was your plan was this a short-term flip was this a long-term investment what was your idea come universe yeah this is a great question this is

the question that everybody should be listening to the answer not because of like what I did with this investment but every investment making need a plan and I think that's where I made a mistake here was I had a plan but my plan was wrong for this type of asset is what I have learned my plan was this is going to pay my kids college fund because it's going to be the next board at Yacht Club and it's gonna 100 000 X and I'm gonna get tokens into other nfts and it's going to make me Rich right we call that getting caught up in the hype cycle yeah here's the problem I was buying a risky asset when you buy a

risky asset what I learned is your plan actually needs to be nothing to do with what you're gonna get from the project in terms of benefits of like other tokens or reward it needs to be purely okay this is a risky asset that means that if there is gains you have to have a benchmark that you sell out on those games at and I should have had a benchmark of probably somewhere between two F to 5x especially at the endemic capital I was putting into it right like if you're putting in significant Capital by putting twenty five thousand dollars I should have said okay if I can 2x this right like that should have been enough

for me and I should have been happy with that right yeah well also knowing how the charts went now you know a 2X would have been great but you don't know that at the time right no but then the other thing that we need to understand is like Jay are you a Trader have you ever really traded investments in your life no so there's something about these hype cycles that just turn everyone into triggers right and not only to become traders in essence we might you know that like East Bitcoin trading that that's very similar to trading stocks which a lot of people just do and they kind of whether they do a professionally or as a hobby it's somewhat normal though not really because it's extremely evolved out but what happened in 2021 2022 is everyone became traders of things that we've just never traded

before you know what I mean these are liquid things that everyone became these like art community Traders which like that's not a thing you know nothing so it's wild that that kind of happened and so I think the first thing is Jay more than likely I would say probably the purchase and you tell me do you think that this was a mistake to buy in the first place why don't you end up selling it in the future or you sell it now for sure that's regardless I literally said to my what I mean we said to Sam I'm going to be an nft Trader and I'm going to make this a whole bunch of money that is the most hype cycle thing I have ever done in my life and I learned a really valuable lesson right right the key is that I learned this lesson and the only

way I learned this lesson is my fault and yes this was a mistake well and I just want to say everyone that's listening right now when this cycle comes back because it will it always happens in the space as long as and I'm not saying it will for Bloomberg specifically but in terms of crypto in general Cycles continue and we have it in all sectors right attacking real estate we always go through Cycles whenever we go through the next one 90 of people in here we'll do this again we will make those same mistakes we will become professional investors once again we will be on the high horse and think that we're the greatest in the world and we'll buy dumb things that's just how it always works I've done this everyone who's been in this space has done this um it's almost impossible not to do this

is why having a plan is so so key and making sure and we talk about this a lot in our course that's coming in a couple weeks we've done this for pro members this is why no matter what we're all degens at heart right we are greedy humans take a small percentage of your tonal net worth or your total Investment Portfolio and go play around to satisfy that need and keep the rest of it in the things that you want to invest in long term that you know you're not making a mistake on right which means not things that just launched for the first time in our whole new technology that we don't even know how they make money or if they ever will make or what Equity we're getting Etc so that's the first piece of advice now Jay's gonna deal with his his

decision and he's got this noon bird he's got this Moon Bird that's down I don't know whatever it's 90 the question is what do you do with this and Jay I just want to get your first maybe just your first thought and then I can give my thoughts and anyone else in here listening this entire time if you did the same what do you think you want to do with this cell hold yes so the way I approach that decision is first I think about do I believe that aiming bird can can increase in value long term right so is it possible that a art community membership could be worth twenty five thousand dollars in the future the answer to that question is yes it's possible but I had no idea how

to do that if I were to put it on a scale it feels like possible but very difficult like maybe 90 to 95 chance it fails and it doesn't become a community membership that's worth 25 Grand right that doesn't make me feel good right the other question I ask is will there be another Bull Run perennet and that's a big one that we do not know the answer to we've only had one cycle for nft so we don't know if there's another Bull Run for nfts than owning one of the top Blue Chip project could have a lot of value because as you talk about Kai what the a way that money flows through the

web 3 ecosystem usually Bitcoin bull runs first each follows as well as other alt coins follow and then nfts follow and we are at the start of a bull run or Bitcoin and for eth a little bit we're seeing so does that mean that there's a bull run coming for Anna teeth I don't know I don't know the answer to that question but that's probably the biggest one that I think about and then the last thing I think about is am I sell in the bottom because you should never sell the bottom right it's so difficult to know because part of me is like yes I am selling the bomb because I do believe that we are close to bond T but again only one cycle it could go lower it could you know it's at two eighth right

now or 1.98 it could go down to one eighth or to zero right I don't think so because you go to business that has I believe in entity Tech I believe in the team still and they've got a treasury that it's 17 years of Runway so I think that there's consistential for it to increase from here um and then the last thing I think that also I think about is the fact that my moon bird is staked And Men from a project standpoint it's so smart that they did that because like that has kept me holding on because I'm like well if I if I leave and then I buy back in I started zero again right because the way that's staking mechanism works and moon bird is literally based upon the days

that your state the number of days so yeah so I go to zeros at zero stake on my D counter right here's my advice of what any investor in any investment should do when they are down and wondering if they should sell Jay I can tell that you've tied your thesis on this towards this 25 000 because that's what you put into it right so you're stuck on okay I put in 200 000 will this comedian being worth 25 000 that's making nfts worth that will I be able to get it back into another okay or should I move to different assets but I'm getting 25 000. I think this is going to skew your judgment because even right now what I would do is go okay that 25k gone okay now what I have is 1.98 so

it's at like five thousand dollars or something like that and you go what's the invest investment what's the best investment I can make for five thousand dollars is that a moon Birds is that I don't know a board of the out club is that eat is that Bitcoin because that's really where you're at you got to go to any situation now right you're not guaranteed to make 25 Karen anything right to sit here what most people do is go okay well is Moon Birds gonna get back 25k or is Heath gonna get there what's gonna get there faster it's like well maybe not right like you might be years that would be to make the 25k who knows what moon Birds does either right so I think what we could do again this is just more psychologists remove that 25k you you've already said that you made a

mistake so let's accept that mistake and let's deal with what we've got and I think now what I'd be doing is saying okay I've got a portfolio you're an investment of five grand what's now best for me is it that I'm already in this community which I think that's potential and a great team with a big Treasury and I've staked for you know over a year whatever it's been and so I have an upper hand there so there's a chance I can make x amount from that or is it you know what if and saving Ethan getting my five percent per year plus the potential appreciation of e is a better investment like I think that's now where you should be thinking and remove that 25k and just take that as a loss you know what I mean a great point and like you said I'm

attached you know I'm attached to that 25k and the belief that it needs to be worth more in the future but then also now think about your broader portfolio do you already have me and if you do and you have let's say you know whatever let's say you got 50 Grand to eat well this is just 5K of that so maybe that's your new fun play and maybe you do want to put the moon Birds because you still believe in that team and you want to be able to right and it doesn't need to be part of your main 80 of your portfolio that you're holding long term for for sure gains and so then you got to decide well what is that 5K is it going to go towards my like long-term bet you know where I I have those in let's say the

Apple the Bitcoin the things that you know are going to go long term or is it going to be part of your risk your side of your portfolio because if it is then maybe moonbirds is your play or the zoo keys or something else I've made this mistake once right one right unless it's like you said a very small nft I think this is where I've learned about myself as an investor as a result of this experience and what I've learned about myself as an investor is that I'm not a Trader and I don't need high risk assets I need long-term plays but I also have massive hype cycle editing fees and so I got caught up in it and I spent a lot in the member I spend a lot on my other and if two

things as well moving forward I need to be aware of that I would say this everyone's afraid to then sell below they're like I'm gonna sell the low so I'm just going to hold it and maybe it'll go up 2X and then I'll sell it I I think it's also like Again by erasing that like previous price he bought about it and forgetting a bit low maybe this thing goes down more maybe goes up more but I think it's also just like if you sell this and you put into youth because you think eath is a better investment right now then you need to forget about what that price how what happens that price whether you sold it low or not doesn't matter to you because you now have a different thesis right or you don't have a different use case for that Capital which is any or it's in whatever

you decide to do and forget about if you sold one that's fine who carries but if you get all upset and you sold below you might then take that money and try to invest in something else right and try to like win it back and that happens so often this vehicle so the key is like whatever decision you make do it from now from like what you think is happening now moving forward and then forget about forget about if you sold it lower the high like that stuff should just be again that's all just psychological bio psychological yeah yeah and just get rid of that and just make what decision you're going to go with now and then and then run with that and it doesn't have to be get you to 25k in the next year because the change of that happening is like super slim regardless right

my only other major consideration is tax lost one of the main reasons why I don't want to sell this right now is I have some other Investments that could bring returns this year and I am waiting to see if those bring returns this year then I will definitely sell my moon bird in order to balance out the gains on those with the loss on the moon bird that is a key consideration interesting so the G sold now it's 20 000 loss essentially yeah right yeah and so that's a cap gains 15 of that so meaning you would pay three grand taxes on that it's 18 of half of profit actually so

you would do the opposite of that so it might call CJ with like a 2000 and save a few thousand yeah so then again which is a great point and something you want to think about but also is the investment you make if you sell this meaning let's say you put this into heat is that going to make you even more than that and then it's actually doesn't even matter right it's clear Point yeah and it's okay to sell it and also for Moon words to do well based on your judgment of everything that's not on I think Lindbergh succeeds in the future all right um I don't think it happens in the iteration it is now I don't even know that ends up being an art community that you know brings value back to Center T I think we have no idea and I don't think

it really matters but again you made a seed investment not knowing it you actually made a trade but technically you made a seed investment in a team that you knew was going to raise a lot of money and like you said when you do a seed investment it takes three to five to ten years for that to come through and actually like be anything if it ever does and so unless your time when we're one year into it so unless your time Horizon for this in 5K that you currently have is three to five to ten years and you have that and you're kind of risky side of your portfolio if that's not the case then I would put this into eth because I know that you're more bullish on that more short term and it's something that you don't have to think about you don't have to like be

involved in a community and study all this stuff if you should be trading Etc you already are looking at youth all the time anyway so it saves you a lot of time unless you think that this thing is going to make it and you're down to older I'd probably sell myself if I already and also assuming that Windward still probably does well like I don't think you're abroad in your investment you were just wrong on your timing of the investment and I think the better opportunity now is to all these rather than this at least one at least three years and you make a really great point about the time it takes to manage an investment right I'm already too busy right and so in order for nfts to really work for you then you got to be so involved you got to be involved in the

community you've got to be checking things you're going to do things in order to get the benefits like they don't necessarily just ever drop you something like you've got to go activate and burn an nft or show up and then you get the benefit whereas East I can buy these and I can stake it and get a return on it and so it's so obvious to me and that's why I allocate my current capital too eat in Bitcoin almost exclusively I do some other tokens as well but not much but I don't buy nft anymore because it's just I'm not looking for that actual work so for all of us that are in here listening there's a single podcast anyone want to buy a moon board because he says one about teachers what's your final decision Jay what did you find I'm gonna continue to wait I

don't feel a need to sell it today so my decision is to hold for another probably three months and then we'll re-evaluate like that a plan see that you made a decision with a plan and I like that right reevaluate you have a time frame for it set that in the calendar and then reevaluate same thing in three months that's the way to do it does anybody here have any thoughts they wanted to share comments or things to add yes well I guess you've explained already but like the stating you said it counts are the days that you've been holding it so that I wanted to know if there's any restrictions around that like when you can sell or that and then second is the conference cancellation I know that happened after this they changed to cc0

and the conference cancellation I feel like that kind of had a big pull on the community I just wanted to hear a little bit more about that and then if like you said now you know there's a bull run coming up so my question was like since you've been through birds have gone through all these changes if the bull run was to start right now and all these people would jump in and want to go look at Moon Birds is their website is their profiles is everything like ready with their new vision and actually like enticing if I wanted to buy moon bird and I went looked at their website the open C profile and Twitter today is it actually uh persuading me to buy a

Bloomberg today or is it kind of leftover random stuff from the whole leader great questions let me take them one at a time your first question does staking impact my my ability to sell my Bluebird no I've staked my members thinking it's based upon the number of days that it's state if you sell your moon bird the staking does not go along with the sale it basically just erases the staking of it I can sell it my staging has no value towards my sale your second question the conference cancellation did come after the cc-0 much after cc0 was like August of 2022 conference cancellation was like February 2023 the conference was supposed to be March or April of 2020 it

was April 2023. yeah I can't see in the conference had a huge impact on the community mainly this was more fun the worst thing you can do as a team executing is say you're going to do something and then not do it right everyone just loses faith and so it led to a lot of people being like I'm upset but remember 88 of moon birds are State and most of those I don't remember the exact stat but like 90 plus percent of those are staked from the beginning so yeah led to FUD but most up buddies from outside the community within the community most people are still holding and they're still believing so the community is still strong even with things like CCD are on the conference cancellation by

the moon bird now and like their sales pitch the website is up to date social medias are up to date they have a daily YouTube like space or a daily YouTube that they put out that talks about nfts and focuses on investing in art investing in rdfts and how to do it yeah you came in and you were an art collector or you were looking to buy an nft and you cared about art then moonbirds makes a lot of sense for sure they tell you they've definitely done a good job of X here on that please For Those Questions by the way there's one other question written in the comment by ik crypto02 quick question how do you think nfts can be used to add real value to Brands and businesses masking because it seems a lot about No utility and uh jump them after the hype dies down

which is quite true but Jay I'll let you take first answer that I think like I think nfts had a tremendous value businesses the same way the internet was the most incredible business application there's ever been in the world the internet created more opportunities for entrepreneurs and for businesses to scale and make money blockchain is similar to the internet and its ability to present opportunities for businesses use the nfts as a way to improve experiences within your business to improve loyalty to improve ownership within games to improve identity I think these are all ways that nfts can be used to improve a

business the challenge is most entities so far are the with our pfps basically and pfps are not a business there's not going to be thousands millions of companies that are pfp companies and selling pfps like that's not a thing right it will never be a thing so when you have so many businesses that their entire product has been a PRP well it's no wonder that they're all struggling it would be similar to like someone coming on the internet of business and saying that a website is my product it's not it's a tool for your business right and the internet gave people many tools for the businesses whether it's e-commerce

websites Etc blockchain same thing as many tools for your business whether that's tokenizing right for financial ways so meaning moving instructions for to raise Capital but it also does a lot of things and specifically the t's for interoperability so when Jay said it gives ability to provide new experiences on the internet for example we have a newsletter called Webster Academy and we have a premium service to that called Webster Academy Pro those who purchase Pro get an nft and that nft allows us to give them private channels and Discord allows us to give them perks and discounts and things to other applications that are in web3 it allows us to give them specific content that only they can see if they have that thing in their wallet using webview Tech that's not possible so we couldn't

create that experience without NFC technology um you think what Starbucks is doing in terms of creating a Loyalty Rewards program where people can earn these different what do they call them stamps and then not only do you earn them by being a Starbucks member but you could actually sell them because there's no value in a marketplace around that right so can't do this in web 2 function you think of what Nike's trying to do the dot swoosh where these dot switches are basically identities online right and so instead of having a Twitter handle at ik crypto which is who you are who asked this question your handle now becomes you know crypto.swiss so it has that branding to it and then you can take that ID and go into EA Games and now you can play with that dot swoosh identity you can go to

fortnite which they've already done I think it's fortnite yeah and connect them to there and now you have your identity taking you to multiple games on multiple platforms so again an interoperability standard with branding to it pfps that's kind of been the first use case look there will be money that use tfps for their branding that's what Reddit is doing big time right now and people need pfps but is that the entire business no but people will associate things they do or businesses they're a part of what products they use with their pfp so it's a great marketing tool to have a pfp associate with your nft but that's not the value that it brings that's just a marketing tool that entity itself needs to have some sort of value whether it's access whether that's an experience whether it's reputation you know

whatever that thing is but yeah there's just a couple examples well there's many if you haven't heard check out our podcast or our newsletter with the Academy I mean we literally talk about stuff all the time so we have lots of episodes specifically on use cases of nfts and how you can use them in business or for Brands so I would highly recommend you check that out all right Jay I think that's it for questions so I think and we're also way past time so it's time for us to wrap up here great conversation I'll keep you guys up to date I'll let you know when I saw my moon bird because I will it's just a questionable thanks everybody have a great week we'll see you next time on the podcast on the Twitter space every Monday at 12 Eastern we are doing these Twitter spaces so

make sure you come out if you're listening to the podcast would love to have you join in on the Twitter space and find a reminder if you are investing in blockchain if you're investing in web 3 right now in the next 24 hours you can get 33 off of web3 Academy Pro which is our Pro subscription where we write on chain analysis reports that allow you to invest with confidence in tokens in the things that are available to increase your wealth within the crypto blockchain space because that's what we want to do is guide you confidently to increase wealth and increase opportunity so make sure you go pro and grab that 33 off

that's 33 off for life so that's a really big discount that we probably won't do again so make sure you grab that have yourselves a great week everybody thank you for listening to web3 Academy your one trusted source to capitalize on the next big phase of the internet if you enjoyed this episode please share it and subscribe or follow so that you don't miss the next one while you're at it there's a link in the description for our free newsletter where we provide timely and relevant web3 insights so you can confidently build and invest in web 3. make sure to subscribe today one final note this podcast is for educational purposes only and nothing we say is financial advice crypto and Webster are risky and you should never invest more than you're willing to lose thank you friends and see you in the next one