GM Web3 ☀️ on Rug Radio 🎙️: Ft OnChainMonkey

Todays started by noting that markets were closed on Presidents' Day, but are back and down roughly 1.5% on both the S&P and Nasdaq. Interest rates are also selling off with 10-year yields at year-to-date highs, while crypto is lower and more volatile. The hosts caution listeners to be careful of volatile swings.

We discussed the crazy volumes happening in the market and the massive trades taking place at scale. Despite this, floors are trending down. They also note that whales may be the ones benefiting from the farming trading, and that there is plenty of liquidity for those who want to get out of something.The Blur Farming situation, which has created conflicting sentiment on the timeline. While some projects are seeing increased royalties being paid out as a result of the huge volumes, small projects and small bag holders are not benefiting.

The cancellation of the Proof of Conference received heavy backlash. Sponsors and sales data seem to be the tipping point, and refunds are said to be claimable for those who purchased. They also note that Friendsies has been declared an official rug, with their Twitter account being deleted. The hosts express disappointment that an established art brand with major connections would launch a project that turned out to be a rug.

Finally, the hosts welcome special guest OnChainMonkey and his team, who launched the first PFP collection on Ethereum that only required a single transaction for all of the assets. They also launched a 10k collection inscribed on Bitcoin, with Genesis and OCM Karma being the two entry points to the ecosystem. On chain monkey is stored on chain and ordinals on chain by design so it seems like a match made.

OCM is on at @12:40

GM

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