If You Hate FTX & Love Trading Crypto This Is For You!

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Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

You may remember This hi can I ask what that Is thank you so that was actually Artwork by djent Alfie and it's actually A marketing Stunt by the guys from over Here now over here are actually selling Those rugs using a bonding curve and It's just it's really really cool and I Really want to break this down for you Now uh down below there are chapters so You can fast forward to the sections That you want to help you navigate the Video easier also this is not Financial Not a financial advisor please do your Own research before moving in on the Crypto or nft space so Alfie is a Prominent artist in the web 3 space Creating a whole bunch of crypto um Based artworks that have popped off and When we get to the artwork itself it is Very detailed now it has actually been Built in a way to be looked at from Every single angle so when you're Walking over the rug you're not walking Over it uh the same way every single Time the idea is that from every single Angle you're going to notice different Things so you got SP SPF here you've Then got like the FTX tokens you've got Um his old Camry you've got Gary gendler Look there are so many different details That actually go into the artwork so the Artwork itself is quite detailed and it Tells a story now the reason that the

Guys actually commissioned this and Wanted to do this is a lot of the guys From over here actually lost a bunch of Money in the FTX debacle so this is Almost a way to kind of poke fun at it And cope and kind of kind of just add Add to it and it be a little bit of a Lesson so that's a little bit the Background on the artist in the art and What's actually happening now to get the Good stuff so over here is actually Selling 690 of these physical FTX rugs And they will be sold for 069 e each but This will be on a bonding curve now the Way that this works is it will be traded For a rug token so dollar sign rug now Because it's on a bonding curve it's Going to start at 069 e but it will then Go up now what is a bonding curve a Bonding curve basically adjusts the Price with the supply so this was kind Of popularized with um friendtech in the Recent days where you get in if you got In early and got the keys as more people Bought in the price went up now Basically the bonding curve acts as an Automated Market maker so this means That there isn't any cash that's being Held in someone else's treasury it's not An ie there because it's an automated Market maker it means that anytime that You want to sell you can instantly sell You can get some money back it does mean Though if you buy at a higher price

There could be a chance for you to sell In uh sell lower when the price falls Back down but it also means that if you Act fast and move quickly you then have A lower chance for downside and just More chance with upside and we saw this With frch with people three three and Keys just a whole bunch of gamification And this is a very interesting concept Now what does this mean for the floor Price basically you can burn a rug Tokens on dollar sign rug and this then Moves the floor up because they've then Taken one of those tokens out of supply And this means that the floor price will Technically rise up for every rug token That is burnt and every rug that is Redeemed now also a side note I have Been told that there will be an artwork That will be given to those people that Burn the rug token which is to go along With the rug itself so there is that Little aspect as well so I think that's Um fun and that's a little bit cool now This has actually played out before in Another way with a game token thing Called unisox and you can see right here This is basically a pair of socks and It's currently selling for $ 45,2 122 but they actually ran up to Around $145,000 at that point in time and the Socks have been redeemed so 2011 socks Have been redeemed so we have seen this

Play out before where there is a Physical item there is a bonding curve There is some crazy price that has Happened and looking at this medium Article I think this can really kind of Hammer home what I'm trying to say the Idea is that they started at 12 went to Uh sort of 13 14 and they just rise in Somewhat of an exponential Manner and The idea is that you can then sell your Um socks or your token back into the Liquidity pool to then get it out so Those that do act early end up making a Decent bag because um there is more so Whereas when you buy in initially sure You might lose two or three bucks but You're not buying a price that's going Up crazy and exponential so why am I Bringing this to you this looks like It's just something fun it looks like Something that could really take over There is a notable artist with an Artwork that is culturally relevant There is a gamified way and US DJ love To just gamble a gamified way to kind of Place bets on this rug but also not be Rugged yourself because there's an amm In place and this is the kind of thing That I think those that get that early Mover Advantage end up reaping the Rewards because first off they're in Early on the bonding curve but if if for Some reason the market catches it uh Likes it and people do flood in this

Thing looks like it could absolutely Print out it's not Financial advice I'm Not a financial adviser I'm not saying a To it like that's just crazy but what I'm trying to say here is this is still New a lot of people don't know about This and I think this is very fun very Interesting and it's a unique concept And I think this will take over because We love different things in the space And when different things pop up things Are just just go absolutely crazy now But you're saying what's the team going To make into it the team will take a Percentage of the trades the same that We saw with frch so for them when I Actually spoke to the team the idea with This as a project isn't to necessarily Make um a fat bag this is to bring Attention to their um sort of launch pad What they're kind of deing with over Here because what they want to do is They want to turn this into um a Thriving business where physical things Can be sold through tokens so the Tokenization which I which will happen At some point in time and this is a very Good way to actually kind of get get the Message out show what is possible and Essentially just contribute to the space As a whole now look I asked the guys if They're doing any whitelisting they said They're going to be doing 69 Whit list Now I'm not currently whitelisting but

I'm pressuring them to give me whitelist Um I would jump in over on Twitter Because what they did say is they're Going to be doing some kind of different Ways to give out whitelisting here Whitelisting um without saying it's Going to just absolutely rip Whitelisting almost seems like a very Easy way to make um just make some cash Because you can move in early on it um You can sell out and like liquidate Straight away back into almost what you Bought it for if you're at the start of The bonding curve which is smart but Because you're in early after the 69 That's when it would open to public and Then if it does take over and catch up Absolute rip um so yeah that's that's Kind of where it is that's as much Information as I can give you just Dumping a whole bunch um yeah so this This I'd suggest going over that Following them putting on notifications And just yeah seeing if you can score One of those spots because it looks like It could be good so hopefully you found Value in this video hopefully you Enjoyed it hopefully this gives you a Little bit of insight into something Different something new um if you did go Down there hit that like button let me Know what you think of this um and Hopefully you can do quite well so I had A pleasure making this video hopefully

You enjoyed watching it and I look Forward to seeing you in the next One H

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