Recordings

Notes

Transcript

welcome to season two of the bean pod a podcast about decentralized finance and the Beanstalk protocol I'm your host Rex before we get started we'd like to again remind everyone that we here at the podcast are super bullish about Beanstalk protocol and other D5 projects but as we've seen time and time again this is still a risky space so with that in mind always do your own research before investing in a project including anything covered here in the podcast and never ever invest funds that you can't afford to lose and with that on with the show this first episode of season two of the podcast is being recorded on November 11 2022. usually we avoid naming specific recording dates because it takes away from the timelessness of podcast episodes but this date is important because as I speak FTX one of the largest and best known crypto exchanges is falling apart though we're still learning details it appears that ftx's leadership used funds that were meant to provide liquidity to users to instead invest in Risky projects for personal gain the liquidity crunch was revealed earlier this week and since then with trials have been halted user Panic is ensued and contagion has begun to reach out to other projects and protocols that used ftx's safe house for their assets the company's once revered leadership is now in tatters and the whole situation is turning into a very public disaster while we may do an episode about the FTX debacle in the future for now we don't see any value in adding our commentary to the mix there are plenty of voices weighing in already and frankly we at the podcast don't feel a need to give Spotlight to greedy and deceptive individuals we do however want to take a moment to extend our sympathies to anyone who lost funds they invested in FTX we hope that your loss isn't overwhelming and that you can find Solace and people and places beyond the confines of a digital screen now to Pivot away and hopefully provide a reprieve from current events we have what I believe is our first nft project developer ever on the podcast purgey an artist whose work has become closely associated with a bank list now has recently sold nfds of his work called Goblin Town the newest item in his location series much like purchase other locations Goblin Town is something of a crypto project SEC and find and if one looks closely enough they'll see a familiar Barn Silo and bean logo though I won't give away exactly where perchi is kind enough to join us in the studio today and frankly I could be more excited Percy welcome to the podcast thank you so much for having me uh on the podcast and very excited to be here and yeah happy to to to talk about nfts with you um this could be fun so how about how about you just you just start us off tell us a little bit about about yourself and your background and how you got into the nft space yeah um that's a great question I you know I've I've told the story a couple times and it's hard to I think I started at different places each time I tell it because I it's really kind of um could say like it starts in different places like I got into crypto long before I got into uh you know cows and nfts and and kind of what I'm doing now uh and making artwork uh full-time which is what I do now um so uh yeah I'm you know uh I I was a teacher for a long time uh International teacher um traveled to uh different countries like South Korea and uh Myanmar and taught there and just sort of watching crypto uh investing in it here and there and kind of just following the stories and you know it's got these Grand narratives like as you know we're all like in the middle of one right now uh where you know you've got heroes and villains and and so much drama uh and yeah so when I when Dows started becoming a more popular idea more popular thing I I got the bankless Dao ear drop uh and that was sort of my first airdrop and my first entry into what is possible with Dows and uh so I was yeah there from day one in the bank list Dao and kind of um just figuring out what's uh you know we're all figuring out what we're what we're doing there how what what's going to happen next and um I just started noticing that like there's all these great like inside things that are happening inside jokes and and kind of this all this great stuff that's happening and I could capture that and I I started drawing Comics uh to capture like these moments that were happening inside of the Dow and just kind of sharing them internally and uh people I got a lot of positive feedback from that and it's very encouraging and also with with Dows and with crypto you send people little tips uh so I was getting uh some money from making these these comics and that was just really encouraging uh and exciting and um I think it was around that time when I decided my my teaching contract was ending and I'd already been considering taking like a year off to kind of explore new things and I was like okay this next year is just going to be about cows and making comics and and seeing where that takes me um and so that's that's what I decided to do uh and shortly after that is when I when I got into nfts uh when I realized I could be turning these Comics into nfts um and uh the first one that I did with that was this uh this is my my very first nft was called the bankless nation it was kind of this large illustration of uh everything that's kind of going on in crypto um there's like a Bitcoin Citadel in one corner and then an ethereum Castle somewhere else and just kind of this big map of what what's happening in crypto um my interpretation of it uh yeah and then that just was very successful um it was uh especially within bankless Dao um and uh it just sort of gave me this yeah this supercharged confidence and excitement about nfts and what what could happen uh what's possible um like I'm you know a new artist to the space uh I didn't really have like a very big Twitter following I still don't really I like them building it um but I could be funded and I could like have this direct relationship with with people with collectors um and I yeah I just kind of explored that and looked around and seeing other artists who were kind of doing a similar thing um eventually realized that like starting a Discord is is probably a a good thing to do it allows you to have more direct communication with people with uh collectors who want to talk to you and uh find out more about I mean it's it's like they're investing in the art and they're also investing in me as a person I think to some extent and they just they want to um and they want to have that connection they want to like uh get get close to you or a lot of them do anyways um and it's just really yeah it's really cool um how nfts have directly enabled that yeah I mean it's it's both the artwork's very interesting and and the development is very interesting as a quick aside um so definitely relate to the international teaching my wife um is from our area in the northeastern part of the us but she actually she taught in China for two years before we met and um you know some of the best stories that she has from her early 20s were like you know how she would have a a long weekend and like her and one of her friends would go to Thailand for the weekend and go to some amazing Resort and you know stay there for 50 US dollars and you know and and have the time of their lives and I like that's that's that's awesome I love that as a as a as a background yeah yeah that's great yeah um yeah to me it felt like a little bit of a cheat code like actually before the teaching uh I was working as an accountant in a bank in a like in a it's kind of funny how where I am now um go from that but it was sort of a very typical sea of cubicles type nine to five job and I was just miserable there for a year um and so yeah for me International teaching was was an escape from from the traditional corporate world uh and and yes I think that's always sort of been a call to me and it's also kind of why I'm drawn into what what I am now uh doing now because similar like yeah I just don't want to don't want to work in a cubicle if I can avoid it yeah I mean there's there is and I think you're touching on like a broader theme within I'm gonna say the crypto space in general is like people that are looking at let's call it traditional Finance or traditional organizations or traditional um work norms and saying this sucks you know like this is this is not it's not conducive to you know making an enjoyable life or an interesting life I would say for a lot of people it's not it's not conducive to you know even things as simple as like being able to to build wealth or you know and I don't mean wealth in the extravagant sense I mean wealth in the sense of like you know modern a lot a lot of a lot of modern businesses and organizations aren't conducive to improving your general you know economic standing you know there's there's a lot of situations where you you go to the cube farm and you know you put together Financial models or you actualize financial statements and you'd grind through that and you do it for 20 years and you say well what have I what have I done what have I accomplished and I think we're in a place in in the nft space into centralized Finance where people are saying there's there's got to be something better absolutely yeah yeah I totally agree with everything that you just said yeah it's it's um you you see it all over the place now I think especially in these last couple years sort of at the GameStop sagas and and with this surge of um I don't know if you follow the the anti-work movement like on Reddit um just yeah people are just sick of of not working because I think people really love to work and they want to work when they're excited about when they have ownership over the thing that they're doing and they're like I'm I'm a meaningful contributor here I'm my work is valued and I I own part of it I own a part of this thing I'm building and that's just not the case in 99 of traditional jobs you own nothing you just come in and um yeah work for the man it's something about having that that ownership in what you create and achieving flow to use a you know a term that's probably overused but you know there's a reason it's a bit of a cliche because there's a lot of truth to it you know people want to to do things where they can lose themselves in their tasks because it's enjoyable and then just like you said at the end of the day they want to have something say I I did this I made this I was part of this in a genuinely meaningful way yeah it's it's I think that's definitely um a huge thing that I'm seeing uh happening in in Gauss and in nfts uh uh like I was just uh yeah the thankless Dao season six kickoff was was today and just listening to people talk like you know there's a lot of crazy stuff going on right now in crypto but everyone's just really excited to be like still building things and still you know even though it's hard uh there's yeah there's a deep satisfaction from um doing work that you that you choose to do on your terms uh that is that you just yeah you can't can't um replace that with with something else I agreed so get back closer to to the work that you're doing explain to me what a chippy is sure yeah so a chippy uh is a character uh from my comics and from uh the the nfts that I create the the bankless locations um and it's kind of the this white blob uh with yeah black and white with with eyes and a mouth very very simple very minimalistic uh style um and it's actually a character uh like I I've drawn from years ago just like uh I would doodle I would make comics in in kind of a notebook that I was keeping and um not showing to anybody I've shared a few of them instead of the some of my old Comics I've uncovered in the chippy Discord just with with people um but um yeah just like um just just a character that exists in this uh in this world that I've uh that I'm in the process of creating um and so yeah the exist inside of this the this tankless World um where everything is crypto uh and uh yeah that's where they they um go on adventures they have things happen to them and you know just drawing from things that are mostly from from things that are happening in in crypto in in the news and kind of interpreting it and putting into this sometimes it's like a medieval aesthetic sometimes they have like castles and things like that but sometimes it's like I don't know there's a wide range of things that I that I draw on when I when I put them in but um so anyway yeah that's that's what a chippy is and it's uh it's the PSP project that uh that I've created um where I'm creating 500 of these uh one of one chippies um and I think I'm currently at about three 350 out of 500 of that uh and so um in in my nft project if you own one of these chippies uh you your chippy will appear somewhere in one of these larger Creations one of the one of the locations so my latest one was Goblin Town I think I put about 80 to 90 uh people's individual chippies just somewhere inside of that illustration so it sort of turns into a little bit of a where's Waldo type situation as well where you'll have your chippy and you'll be hunting for it and searching for it and maybe you'll recognize other people's chippy as well uh so yeah that's that's that's sort of uh what chippy is in a nutshell when I saw a goblin town where's Waldo's the first thing that I thought of I thought oh this is so cool I like you know again I I like for me it was it was an instant nostalgic trip to being a kid in the library in the small rural school that I grew up in and you know going to having a library period you know a couple times a week and going in like the only thing I wanted to do was go and look through the where's Waldo books and like find all the little characters that are doing different things and they're going on adventures and that like that was it and and it's funny um so I think I dropped it in a conversation a DM that that Beethoven and bean talk and I were all in in I think being toned that was the first thing that he said to was like oh it's like where's Waldo and um the other thing I want to want to quickly go back and touch on about the chippies themselves and it's something you mentioned is that like they're you know they're very they're simply drawn and there's something I've really enjoyed about that too in the sense that it very much seems like a um a kind of a blank canvas on which you can lay characteristics very easily and it like it seems like it's it's very conducive to doing that because you're starting with something that's that's very straightforward and you can build from there pretty easily right yeah yeah it is a yeah absolutely it's a blank canvas uh and then the challenging part is just yeah how to make it how to make them all unique right like how to what what things you're gonna add I love that you brought up well where's Waldo um I'm a child of the 90s uh and you know that's a huge part of my Nostalgia as well as uh I can't count the hours that I I spent like studying where's Waldo and there were other books as well that were kind of in a similar vein I think probably trying to copy the where's Waldo books a bit but uh that were also quite good um yeah yeah so happy for that comparison it's a very gratifying process you know like I mean when I think about I want to think about like traditional art you know let's say you know if you look at a Monet you can appreciate craftsmanship and you can you can find you know detail and determine style and approach but there's something about that like instant gratification of looking at you know something in that like that that hunt and find style where like you know every corner you look at there's like something new to discover and you don't have to you don't have to be a student of art history to appreciate you can just like you can just like dive in yeah that's a that's a really good way of putting it I think um it's very yeah I mean obviously that's why why children love it like I've we've got lots of chippy um inside of the Discord who've gotten chippy for their children because they enjoy like looking at the pictures with their with their kids and one one of the one of our members talks about how it's great for him to share these pieces with his kids because it's a way for him to like explain to his kids what he does uh in crypto like what crypto is about and just uh kind of share that because you know it can be hard talking to a five-year-old I imagine about smart contracts um keeping their interest yeah now that's that's that's very fair so to Pivot the conversation just a little bit obviously we're in some pretty I hate to say unprecedented times because again it does feel like that's very cliche um you know especially right now we're we're in we're in a bear Market from a macro standpoint we are navigating the FTX scenario or the FTX situation the FTX debacle um how do you see the nft space evolving in reaction to what is going on in general and and maybe even some of the more specific circumstances that we're we're navigating right now that's a really good question um I think that this this FDX debacle Ponzi schemes um is really took a lot almost everyone by complete surprise uh it was you know we talk about decentralization a lot in crypto and the importance of that but then there's always sort of been a like you know oh but coinbase is fine but but FTX is fine like these are Big exchanges like they make their money off trading fees like there's little risk like you probably you should put it in a ledger but you know like if you have to keep it on the exchange like it's probably not the worst thing in the world and now like I don't know like after after this week uh people will really have to reevaluate um a lot of these things and I think in the coming coming weeks and months um I think there's going to be probably more more pain to come uh as all of this sort of gets Unwound I'm not like I I listen to lots of crypto podcasts I don't I don't really get too deep in like I'm basically like kind of just regurgitate things that I hear so I don't really um know what like all the the implications are going to be but I guess my my my instincts here tell me um lots of these nft projects will probably uh go bankrupt and close shop and and uh my sister just messaged me before we got on this podcast uh how the yoga Labs was keeping their a lot of their treasury on FTX uh um and but got it off in time I guess um but I they're probably projects that are exposed uh and and now and now what um and I guess that's something we knew from the beginning going in to nfts um we still don't know what nfts are really and it there's sort of like it's sort of like the Ico thing uh all over again where you know all of the they almost became like startups and you're investing in these companies but then there's also like some are just artists and some are just like artists making art and like here I'm selling you my art directly um and it's not about being a brand or a company Beyond just like that artist selling their artwork to to people um so I think there's a lot of things to like separate there um and for someone like me like um I'm fine uh you know my portfolio hurts because I'm a crypto believer and it like we're all like suffering in that sense but as far as my my nft project itself like um you know I'm not building a metaverse I don't have like employees like my sister helps me out for free uh I give her some nfts and and uh and lots of uh gratitude um and yeah so I guess like it it really you know for me I'm lucky that it's I'm a small you know this is like a small business this is like a very like this is just me selling my heart to people um and I think it'll be tougher to sell nfts uh in the next year tougher for me probably tougher for everybody um but you know I think we'll I'll stick around like uh and I think lots of people will and then the ones that were just had grown grown large and like it's it's fine to grow large and it's great to have these ideas and these Ambitions but unfortunately I think um in this unprecedented time uh it's gonna a lot will probably have to fold uh sadly like that's yeah and that that unprecedentedness that that's a a sword that cuts both ways you know it's uh there we we have seen unprecedented growth and I think we are you know in the midst of and we'll probably continue to see probably some unprecedented failure and you know FTX being a really good example I I saw um earlier on today that blockify has um you know halted withdrawals at least temporarily um to me that's not that's not a real encouraging sign you know I would put them in in that same basket of um you know crypto organizations that had grown like large and stable enough to where we thought oh it's just it's it's blocked by you know I mean I I know probably half the people that I know that you know that I know anything about their crypto exposure you know probably either done something on or used block fi and it's just you know it's it's just another platform and so when you hear about these large players really um surprising people with the you know types of exposure and and what contagion will look like it's it's definitely an unsettling feeling yeah the year that I was an accountant uh at um a large U.S Bank uh was also it was in 2008 uh when I was working there and that was um that was quite a year and this this feels sort of like that like this feels like in has parallels to that where you know everything seemed fine but then the contagion spreads and like The Dominoes like um start to fall and and you find out like you know maybe uh yeah block five was exposed uh to Alameda and uh and so it spreads and maybe they were doing everything else fine let's say I don't know if they were but but if they're exposed to that thing who who seemed very legitimate and trustworthy from from the outside you know point of view maybe like they should have had people you know really like digging in to the financial statements more or I don't know it's just it's really um and I mean you hit on a really important point you know like so much of this contagion again to use another now cliche term will affect organizations that we're not doing anything wrong you know and like uh you know so block fi stops withdrawals that doesn't necessarily mean that block Phi was running a giant Ponzi scheme you know I I and I don't want to speculate you know down that path you know it's it's just a matter of exposure they could have been doing as much due diligence as possible in trying to do everything right and the exposure is unavoidable and and I think that's unfortunately the vast majority of individuals that are affected by these failures fall into that exact basket it's like hey I was making the best choices I could with the information I had at the time and this thing came out of left field and now what do I do yeah yeah it's uh it's really hard and it's it's gonna hurt so many retail people average people who are just got like onboarded into crypto and lots of veterans too like everybody like there's you know um and it's gonna yeah it's gonna set things back it's gonna it's gonna be up you know it's gonna be something we the industry learns from uh I hope and and does better the next time and um and yeah I guess like we not not we but people in the in the crypto industry replicated like lots of the problems of British National centralized Finance and we just a lot and then the majority of of the crypto World kind of just accepted that and was okay with it because everything was going up and everything was fine but now now is the chance for us to reevaluate those those ideas and approach this thing from a more pure standpoint from a more decentralized truly decentralized place I hope yeah I completely agree so so I want to want to Pivot away from um the the current happenings because actually it's a little depressing um I want to I want to Pivot back to to nfts and in the work that you're working on so you so you're talking about chippies being uh you know a pfp project and the the ongoing um larger uh the scenes that you're you're creating and first I wanna want to see if you know if what's what's coming down the pike I mean is there a particular is there is there a new setting or scene that you're working on or conceptualizing now uh yes there is um yeah so I'm uh I am making all of these uh bankless locations of which Goblin Town um was the most recent uh Goblin Town was the the sixth one so I'm working on number seven now um I'm sort of in my kind of rest in Phase right after Goblin Town I'm taking like a couple weeks to kind of uh gather my my thoughts and I'll start sketching out the next one uh which I did announce I said was going to be um hodler Beach uh and I'm pretty sure this week has made me think oh like there's there's a lot going on maybe I need to uh incorporate I I will incorporate the events uh that have happened this week as well but um yeah so the the next location I'm going to be working on is is called hodler Beach uh which um yeah we'll have uh chippy doing beach stuff uh and probably tie in a lot of uh yeah whatever is relevant in in crypto news but with the sort of the theme of the the people the tippy who are chilling on how their Beach are are the you know they're the hodlers they're not trading they're not you know getting wrapped up so much in like the uh the day-to-day stuff so a lot of them are just uh they're just they're they're waiting to you know check on their crypto crypto 20 years from now um so they're not as as frantic as as we all are this week like checking the news every day um yeah so yeah constantly flipping through Twitter so I gotta I gotta know what what I gotta do to get a uh a bean tovan Beach concert into that I I don't know how many pfps we need to buy but we will we will we will we figure out a way to make that happen um yeah uh that so I part of chippy I guess I didn't mention this before um I take commissions uh for Chippy so about half of the chippy I create are just sort of um from my imagination and I put those out there but the other half uh are are people commissioning approaching me for commissions uh and I tailor a chippy to their you know their ideas um and so I'd be more than happy uh to to take uh new and so that's how we could have um a Beethoven concert uh no promises on what exactly they'll be doing but I'll definitely take take your uh the concert into I I try to put chippy towards whatever kind of vibe they're giving out so if we've got like a composer or a musician type chippy then I I want to sort of fit them into a a musical sort of uh situation um we're we'll we'll make that happen I'll uh I'll we'll cover the we'll cover the commission for that and and so you we'll have to figure out a way to get bean bean talk worked in there too and yeah we'll we'll have to chat about how to make that happen the other thing that with the um so with the continued evolution of of the locations project have you ever considered like I feel like a lot of nft projects are um tying like Real World objects or like other components and I feel like that has been one of the real like kind of hot use cases for nfts like you know if you you buy an nft of a I'm gonna just use an example a pair of sneakers you know the nft you get the nft and then you can like get a pair of sneakers you go along with her like have you ever considered like physical objects like if I buy a chippy pfp like can I get a little stuffed chippy or something to go along with that or is it something you've ever thought through uh yeah yeah it's it's actually come up quite a quite a bit uh there is definitely some uh chippy who want that to happen very badly and I have been uh very very slow in responding to the uh the demand for for physical physical items um but uh I think I'm far enough along now that I could I could say uh there will be some physical physical items uh on the way um so one thing I wanted to do from the beginning is get some prints uh so I'm going to have prints available uh hopefully pretty soon of the locations um we've got a chippy mug design that I'm working on um actually a long quite a long time ago my very first piece uh was turned into a puzzle uh a physical puzzle oh yeah I don't have it in the room here with me but yeah it was uh yeah so that was through bankless sound meta Factory uh we dropped like a limited edition I think there was only like you know 90 copies made or something like that but um uh yeah that was that was fun I so I definitely am interested in the physical side but uh I was I was sort of yeah I I I've had some roadblocks along the way um and and now uh most mostly me just like dragging my feet and like you know it's a world that I'm not used to navigating like I don't like um I'm having to like reach out to people who have done this uh a lot more and like especially the physical side like how do what's the best way it's not just about like you know exporting your your drawing and slapping it onto uh a shirt you have to there's like all these things you gotta like figure out about it and that's that's a bit of a learning learning experience for me yeah I feel like it adds a new dimension of complexity going into the physical physical world and and especially if it's an item that would require like some type of larger scale manufacturing to make happen I mean puzzles are a pretty good example in the sense that in a certain way they're they're probably relatively straightforward but you can't like sit at your house and make them yourself right yeah yeah that's that's that's very fair well that's that's really cool I that's I I feel like um that is yeah just a unique Dimension and you're talking about like how we don't really know what nfts are yet I feel like there are um so many potential future use cases that involve having a token that is more than just one thing I mean it Beanstalk we've talked about you know having tokens that represent things like locked liquidity and and or you know actually theoretically you know we've got the fertilizer project for the the barn raise is itself an an nft project we have nfts for folks that that contributed to recapitalization and and like there are all these like multi-dimensional use cases that that seem pretty exciting you know kind of out there on the horizon yeah it that is exciting it's um yeah there's so many different directions so many different uses and I think what we will probably see in the coming years is just more um well a couple things I think we'll see like a flourishing of ideas and use cases for nfts that people hadn't really thought of yet um and then more distinction like now we just call everything that we call it all nfts but there will be lots of more distinct things like this one is a pfp like artwork nft this one like generates videos uh you know and it's a claim on these assets over here and like there can be so many yeah maybe we'll we'll have to develop like uh language to describe like all of these different capabilities which is yeah gonna be exciting um I can even see you know maybe out in the future where the term nft itself becomes you know I'm gonna say like you know dated or you know arcade like you know what the reason I I say that is um and I'm grasping at straws a little bit but I know that Reddit just did they just had their their nft project that they they didn't use the term nft for and I mean you were buying an entity but you you probably know the details better than I do um yeah really a really clever way to approach nfts where you weren't using that language and so didn't have the same um didn't have the same hesitancy or um other you know ideas that might not be considered and are real desirable right now yeah yeah I think that's I think what Reddit did was really smart so I think they had an amazingly successful rollout of their nfts uh their excuse me they're digital Collectibles uh and I think thank you what they did there is I think the beginning of what we will see what we'll eventually see with more clarity of language like calling it a digital collectible is actually more descript a lot more descriptive like nft means nothing to the majority of people that you say a digital collectible even even to the people who know what nft stands for it doesn't really mean that much because there's it's so broad it's just so you know um but to call it a digital collectible is really smart because that's that is what this is this is a digital thing that you can collect and you can own and then there you go you understand it all inside of that like little description completely agreed it yeah so it makes me think of that whenever I would talk to folks about nfts um that were skeptical or whatever the the analogy that I almost always use are things like concert tickets you know so at some point in the future you're you know you you buy a concert ticket and that that concert ticket is an nft and that nft gives you not only physical access to the concert itself but it also entitles you to a recording of the concert or you bought a special edition that gives you the ability to meet the artist or you know give you know gives you the ability to claim a poster or whatever and you know in in that future world you just bought a concert ticket like it's not you you don't use the term nft any more than Reddit did with their digital Collectibles it's it's a digital collectible it's a concert ticket it just happens to use blockchain as its platform it is a token that has certain characteristics you know that are associated with it and it like the the the the the term becomes archaic yeah totally and you're really touching on something that that's very exciting uh to me there like the the way you're talking about this ticket that's an nft and then it unlocks all of these other possibilities like um and I think what we will see what I hope to see and I think we are seeing in some cases are artists and creators of all kinds uh becoming really creative in how they use this technology to the the fullest extents and just one of the one of the concepts I I heard of is something called like a factory nft where you own this and it entitles you to like um the nft will is sort of like a productive asset where whatever like the the artist will keep creating things and anyone who owns this like this Factory nft gets like the first Choice like maybe they can mint something from them for free or at a discount or uh it unlocks just all these different things like you're talking about maybe it's a backstage pass with with someone uh you know yeah like this ticket like it just the relationships now can be so like composable it's just like you know writing like a smart contract or something you can you can write the artists will be able to write the terms of what this nft means in very detailed ways that is just like like it's mind-blowing to think about like we're not we're not even at the tip of the iceberg here with what people are going to eventually uh figure out how to use them like oh yeah like this uh yeah yeah yeah and you I mean you're that's that's a great point that I have never thought about and now like it all like what it I mean the that concept it it strikes me as like in in just you know sitting or talking and thinking out loud it makes me think of like essentially like a digital coupon and just for that that single use case that you mentioned in in to to come back you know I like I have a a close personal friend that's an artist and he he makes comics and you know I later on when we're when we're done talking here I'm gonna shoot him a text to be like hey you know what you could do with an nft you could you could set up a smart contract that people that held these nfts would get a 20 discount on every you know every piece of artwork that you put out like that and and that isn't even tokenizing the artwork it's tokenizing the function absolutely does your does your friend uh turn these Comics into nfts so he is in the process of trying to figure that out and I I keep saying to him and like you got to do this and uh he uh he's he's a uh he's an artist and a colorist and like right now he works in traditional comic books print comic books and he's like looking to make that step and I know that like he's he's still trying to figure out the digital component you know it's it's so different from traditional comic book publishing that I think he's still got some apprehension but like so close to being ready to make that jump and I'm excited to watch as he does that that's really cool that's exciting yeah yeah um I I I've been talking to a few of my more creative friends and trying to uh you know encourage them to to check it out uh I think like there's no better time uh like we're we're gonna be in this bear for a while this is the perfect time to just like play like get in here and just start creating things and um that's that's what this thing is for like I never thought like when I was first getting into crypto you know years ago like that this would be such an unlock for artists for creators like that that you know Crypt like crypto for creators it's it's I just didn't put those two together and it's uh yeah it's just it's such a good time for for people making art I think so true so as kind of a last uh last item we're close to the hour but I want to I want to Pivot to Beanstalk real quick and you know obviously part of the the uh the thing that Drew me to Goblin Town was was the Beanstalk reference and I didn't bring you on here expecting you to be an expert in in our project but I guess I will say or we'll ask um you know what what led you to to give Beanstalk the give put the barn in The Silo in in Goblin Town uh yeah so actually finally like I drew the barn before I knew it was going to be Beanstalk I just drew a barn there I'm like oh this looks like a barn belongs here because I think I was also going to have like the yield Farmers like I already knew I was gonna have them over there um uh yeah to be to be honest uh I discovered Beanstalk through um through my research of goblin town and I was looking at people that got hacked and people that like got got hurt and so ouch ouch and you know like and it says nothing at all about like the like good or bad about like this happens like we're in crypto this is this is wild um so I have lots of uh projects that I totally respect and think are wonderful that are in Goblin Town and it's like yeah it's the ones that got more presence I guess were the ones that had problems like that would lead to because that's what Goblin Town is about it's about like these these problems and um yeah so that's how I uh that's how I discovered it and you know it's funny um as we have navigated the exploit and I'm using the Royal we for you know the Beanstalk community um you know the Dow or or however you want to Envision that um obviously the exploit was was awful and you know I would say that you're talking to three folks that yep probably you know have lost some funds through that exploit and are hoping to you know see the the protocol bounce back um but at the same time um the amount of recognition and um the opportunity to talk with people about what the project is and what it does and how it works and you know be able to explain the difference between you know a rug versus a hack versus a governance exploit and you know go through the the barn raise and the recapitalization effort and all those things um it's given us exposure that that you know I hate to say money can't buy but it's been a really unique experience for our group that that probably wouldn't have happened the same I'm sure wouldn't happen the same way might not have happened nearly as quickly if that exploit hadn't happened so it's been an interesting turn of events yeah um yeah like we we've all like if you've been in crypto for long enough like something you're going to be exposed to something uh it's just like a matter of time um and and bouncing back being able to recover that's that's the key that's um we we kind of like I think the mentality in crypto I think people who are really passionate and into crypto sometimes like think we're 10 or 20 years further along than we actually are and that like we're in this place where smart contracts are perfect and like this is all gonna you know there's like we're we're done with with hacks and with exploits and things like that but it's it's still very real and we have people are such a huge factor in all of this um and it's like trustless as we want to make things uh you know we still need those those those people that are building it and we need to trust them a lot like in lots of cases um and uh yeah that's um I I'm I'm really glad to to hear that like the community seems to be like recovering and and you know I've been since since I've like followed started following Beanstalk now and like I I'm yeah I'm I'm definitely like observing it now and I I you know I wish all the best like it's um it happens something that everyone's vulnerable to as you know a great learning opportunity and you know I I I think our uh I think our group of you know core dial members and contributors would say you know better to have it happen now than than a couple years down the road when we're significantly larger and if you're going to learn a hard lesson you'll want to learn it early absolutely absolutely yeah I mean first doubt like uh like the Dow all of ethereans yeah the Dao caused you know uh ethereum to Fork uh so like that's insane you know but but the community bounced back like the ethereum communities like you know stronger than it's ever been so um yeah like you said that's the time to learn those lessons as early as possible I I lost uh my first hot wallet my first web wallet like um I just deleted it and uh thought that I you know kind of lost everything wasn't much it was a few nfts it was like a little bit of a little bit of eth and uh and yeah I just accidentally deleted it and it was painful but I'm so glad that I learned that lesson the hard way because now I am doing everything I can still there's still risk there's still like you know vulnerabilities but I'm doing everything I can now to not make the same mistakes yep that's all you can do well party this is great thank you so much for for talking to me today thank you um for hopping on the podcast and and telling us about what what you're working on and um Good Luck as the the projects continue to roll out thanks Rex thanks so much yeah this has been just a absolute pleasure talking to you um yeah I'm you know this is this is really fun you can find Percy on Twitter at perchie.eath that's p-e-r-c-h-y Dot eth you can also find his project on Twitter at chippy nft that's Chi PPI nft and you can find them on the web at linktree slash chippy nft that's l-i-n-k-t-r dot e e slash chippy nft foreign part is a production of Beanstalk Farms a decentralized autonomous organization you can find us on Twitter Instagram medium Discord and our home on the web at bean.money you can also find me on Twitter at Rex the bean and as a final reminder this podcast is not Financial advice thanks again for listening foreign