Latest / Financial Survival Network / NFTs, Crypto, and the Metaverse - Lark Davis #6011

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NFTs, Crypto, and the Metaverse - Lark Davis #6011 · Financial Survival Network

• 0:00
  Just because you put crypto on top of an idea doesn't inherently make it good.
• 0:04
  But in a bull market, that will be the narrative. We have
• 0:07
  crypto on top of our AI idea, or a metaverse idea or a game
• 0:10
  idea. Therefore it has evaluation that's insane, and markets will pump because the
• 0:14
  liquidity is scarce and height gids really big and all this sort of stuff.
• 0:17
  But metaverse is a very interesting area and I think it will be very big,
• 0:21
  and we will see crypto integrations even in the big ones. You're listening
• 0:25
  to Carrie Letz's Financial Survival Network, where you get valuable information you just can't
• 0:30
  find anywhere else to thrive in today's trying times. You need the Financial Survival
• 0:36
  Network now more than ever. Go to Financial Survivalnetwork dot com and get your
• 0:42
  free newsletter and gift. Financial Survival Network now more than ever, And welcome
• 0:52
  you are listening to and watching the Financial Survival Network. I'm your host,
• 0:56
  Terry Lutz. Hey, t you know, I've been involved in the crypto
• 0:59
  space for years and years already over a decade. I wish I had kept
• 1:03
  my six bitcoin that I got when bitcoin was six hundred bucks a coin,
• 1:10
  but I didn't, so, hey, what can you do? I think
• 1:14
  I sold it it seven hundred dollars a coin and felt I admit a killing
• 1:19
  and such as life. Well, person you're about to hear from makes his
• 1:23
  living off the crypto space. But he's not like any other of our crypto
• 1:27
  experts you've heard from before, is very down to earth. He's he's got
• 1:34
  a newsletter over ninety thousand subscribers that in itself tells you everything you need to
• 1:38
  know. His name is Lark Davis Lark. It is great to have you
• 1:42
  on the show. Hey, so I got a question for you. You're
• 1:48
  in the crypto space. You didn't you weren't a kid saying gee, when
• 1:53
  I grow up, I want to be into cryptocurrencies. Probably didn't even exist
• 1:57
  when you were a kid. How did you get into the space? Yeah,
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  it's a great question. Well, a lot of what I do didn't
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  exist when I was a kid. You know, I was born in at
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  the mid eighties, so growing up in the nineties, we just got internet.
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  I remember getting TV back in the day, right, those were many
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  times of the internet. Ah, yeah, back in the day when he
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  had to somebody had to be off the phone in order to use the Internet
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  at the same time. So my age here crypto has been a very exciting
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  space and making content and crypto has been an absolute pleasure to do. Lots
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  of challenges of course along the way wild but I got a new crypto content
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  creation around the same time that I got into crypto investing. So I started
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  investing in crypto. First bought my first big coin, bought my first old
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  coins, and then I said, what's next? How do how do I
• 2:39
  get more involved in this space. I started going down the rabbit hole learning
• 2:43
  about things, and I found this application which was called the Steam blockchain,
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  and basically it was an early social media platform on the crypto space. Posture
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  step there, people up money, yeah, do you remember. So I
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  started posting articles over there and did okay, and I started really getting into
• 3:01
  the idea of doing it. And of course anyone that I posted on crypto
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  got really popular over there and got nice up votes, and so I started
• 3:07
  doing more of that content because I was super interested in myself, so why
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  not. I started answering the questions of people are asking over there and trying
• 3:14
  to dig dive into these topics myself and one thing led to another. I
• 3:16
  was like, man, it's taking a long time to write all these posts
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  out. I'm just going to start recording videos to share my thoughts that way,
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  YouTube channel started taking off. Of course, as I hosted on YouTube,
• 3:27
  one thing led to another, and I didn't necessarily start out as I'm
• 3:30
  going to create a big business out of this, which has become now the
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  newsletter and the course sales and everything else that we're doing across the space,
• 3:37
  and we're making industrial levels of content right now. We're doing one hundred and
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  forty four shorts a month posted across eight different social media accounts, and we're
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  doing twenty live streams a month and twenty long form videos a month. Like
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  we're tracking out content of course now at the time. But it never started
• 3:51
  off with the intention of going in that direction. But the more I got
• 3:53
  involved in the space and the more I got sort of red pilled on crypto,
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  I decided that's it, this is what I wanted to do, And
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  in November of twenty seventeen, a month before the all time, I quit
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  my day job, went all on Crypto twenty eighteen. I started questioning that
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  decision during the bear market, of course, but I said, no,
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  this is this is going to be big. Bitcoin is that going away?
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  The crypto space is not going away. This is a once in a lifetime
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  opportunity. Akin to being early to the Internet stuff back in the nineties or
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  the early two thousands, I said, I got to go allut of this,
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  and this is what I've done since then, going all in on crypto.
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  I love it. Great story, A so state of crypto now,
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  Bitcoin, Ethereum, few others. I mean, why do we need twenty
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  five hundred different cryptocurrencies and they're not currencies, but that's the name they've gotten.
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  It's a great question. The vast majority of cryptocurrencies are relatively superfluous,
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  but we're also seeing huge competition. Now we can really break things down.
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  We have Bitcoin, which is in its own unique category essentially, and that's
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  a whole conversation of itself. But we start looking across the rest of the
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  cryptocurrency space. You have early movers, You have things like Ethereum and the
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  ecosystem building out around that, and you have competition to be number two,
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  three, four, five. They might look at the smartphone space and go,
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  well, Apple makes iPhones and they're great, So why would we need
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  any other iPhone or any other mobile phones. People like choices, right.
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  My guess is that we're probably going to have four or five within a decade,
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  we're going to have four or five blockchains that capture ninety percent plus of
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  the users in value. In the cryptos space, We're already starting to see
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  winners starting to form up. Doesn't mean new competitors can't come in and make
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  a big impact and be one of the big ones, but in general,
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  we're going to see a huge consolidation of money and resources into a very small
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  space in the crypto area. A lot of blockchains will fail. We've already
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  seen the vast majority of blockchains that have come out over the years fail.
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  I could brab all kinds of names. In twenty seventeen, the people thought
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  we're going to be the new big thing, and nobody talks about them anymore
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  because they fail. They fail, but the users they fail to get adoption,
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  they failed. The applications built on the meal see saying think it happen
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  as people iterate new ideas, New infrastructures being built all the time. New
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  technology is advancing all the time in the crypto space, so there is legitimate
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  use case for some of these new things that are coming out, some of
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  these new data availability networks and stuff like that. There's a use case for
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  that. There is an important level of infrastructure adding to crypto for that.
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  But then you start digging even deeper into the crypto space and you see,
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  do we really need fifty perpetual swap exchanges on chain? No, we don't,
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  and we don't need to have five on every blockchain and every layer two
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  that exists out there. But again, we're in a very competitive phase right
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  now, and whoever wins from wild or leaf phase will be the winner exactly
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  wild West stuff, and there'll be big winners out of this and huge losers.
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  All right, So let's go back here like NFTs. We're all the
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  rage. Is there any freaking purpose in this world for an NFT of somebody's
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  song or artwork or whatever that doesn't even give you any rights to use it?
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  Well, NFTs are a very interesting thing, and they got way overblown
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  at the height. Obviously, people were buying monkey pictures for a million dollars.
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  Things got a little bit out of control here, guys. But the
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  NFT technology is actually a revolutionary technology because what we're talking about is verifiable scarcity
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  and digital ownership on the Internet. I always like to use the examples like
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  baseball cards or something. If you could have a baseball card on chain that
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  you know, okay, there's only five of this particular baseball player and that's
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  one of the ones that I have, and you can verify that. And
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  as we're seeing nowadays with the actual baseball cards, spots, fakes and stuff
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  are coming out. They're really hard to identify, and so it's becoming a
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  problem in the baseball card and magic cards and all these things sort of world
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  now profile pictures and stuff like that. It's a much trickier area because it
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  really depends on, okay, what culturally takes off within certain niches of the
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  market, and things like crypto punks for example, because there's such a legacy
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  set in the NFT space, people are willing to pay one hundreds of thousands
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  of dollars for those, and people in crypto have such stupid amounts of money
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  that they will pay for that. But that's just sort of the surface level
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  of NFT technology. We start diving down into its huge applications and like the
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  gaming space, for example, being able to own your in game assets and
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  trade them and have proof of where they've been. Okay, John the famous
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  video game player played with this in this big video game tournament, and I
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  want to own that because he's selling it now and I can own that piece
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  of history because it's important to me, which may not be important to us,
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  but it's going to be important to somebody. And then we go to
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  real world applications, well, real estate deeds online, something like one in
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  three people in the world can't prove they own their property. Well, they
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  always been a big blockchain, So that's vote. Yeah, that's authentication of
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  data and authentication of assets. Hey, so what about the metaverse? Does
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  that metaverse work with any of this stuff? Or is the metaverse just a
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  figment of the sucks imagination? Well, the metaverse is real and scary,
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  and Apple Vision pro makes me worried for my children growing up in this world.
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  I want to see them when they're adults, not have been plugged into
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  the metaverse. I won't know. There's my kids in the metaverse, but
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  unfortunately might happen. Hopefully, hopefully we're just screen time enough that them become
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  massively addicted to technology like everybody else. But hey, a tough battle to
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  fight. Look NFTs in crypto and metaverse, it actually all comes together.
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  And again, as we so much see in the crypto space, a huge
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  amount that we're seeing is overhyped bullshit, people over promising, under delivering,
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  failing to get users. Just because you put crypto on top of an idea
• 9:22
  doesn't inherently make it good. But in a bull market, that will be
• 9:26
  the narrative. We have crypto on top of our AI idea or a metaverse
• 9:30
  idea or a game idea. Therefore it has evaluation that's insane, and markets
• 9:33
  will pump because the liquidity is scarce and height kids really big and all this
• 9:37
  sort of stuff. But metaverse is a very interesting area and I think it
• 9:39
  will be very big, and we will see crypto integrations even in the big
• 9:43
  ones like metabirds is on Facebook will have some kind of crypto integrations. We
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  saw a lot of these big social media platforms already experimented with n FT integrations,
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  and there'll be token integrations and all this kind of stuff. But be
• 9:54
  careful because again we don't need one hundred metaverses. Yeah. You know one
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  thing that I was like disappointed in when Facebook was going to come out with
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  its own coin and it would pay its vendors in that coin and collect fees
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  in that coin. All that that I thought was really going to sweep the
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  world. And then the I think it was Janet Yellen who was then I
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  think at the FED head of the FED shot that down and all of a
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  sudden that idea was gone. You think these things are going to come back,
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  You think you have a Tesla coin and a Google coin or whatever.
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  Probably, in fact, that was such a bad decision by Janet Yellen because
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  one of the interesting things is that stable coins, and what Facebook was proposing
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  was a stable coin. So essentially Facebook was proposing was to make the biggest
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  social network platform in the world become the biggest bank in the world for the
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  US dollar. And they're so dumb in Washington that they couldn't see this is
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  a massive wind for us. We're going to extend the dominance of the dollar
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  by decades here because everybody is Facebook. Everybody's even paid ten dollars on Facebook,
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  and it's gonna be huge for us. Instead they shut it down.
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  It was a massive win American company with an American dollar stable coin, biggest
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  social media network in the world. Dinosaurs on Washington just couldn't see it.
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  Yeah and yeah, in their logic for doing it made no sense. You
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  know, money laundering, nobody tracks you more than Facebook. So every coin
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  that was going to be generated would easily be traceable and whatever else, it
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  would give them a way way head start and maybe even eliminate the need for
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  cbdc's. Yeah, what had a kill switch attached to it, it would
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  have been perfect. Not that I'm not a big fan of it, but
• 11:48
  you know, from the perspective of the government, it would have been a
• 11:50
  perfect tool. But they just can't see it. There so stuck in their
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  ways of banking. Extra prastructure from the nineteen eighties works great, guys.
• 11:58
  Well you got a tech to settle a reserve, which is by the big
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  banks. Yeah. You know, you go three times where they're latently furthering
• 12:11
  the interests of their shareholders, and then other times where it's not as clear.
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  But they always do have that in mind. They always serve for their
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  master So what about cbdc's. CBDCs are scary and they're coming without a doubt,
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  Make make no mistake, they're going to bring them. And I know
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  there's been some China has gone a Yeah, China's already rolling them out.
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  They've been testing them for years, and it's got to become very mainstream there
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  very soon. And all I have to ask to get people to understand the
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  terror of CBDCs is do you trust your government? And almost unequivocally the answer
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  is know. So, if you don't trust your government, then why would
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  you give them a tool they can shut off your money at any time?
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  Why did you say something wrong on Facebook or where your social credit score plunges
• 12:54
  for no reason that you know of the as you know, right, you
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  flow on a plane so many times this year. You're not allowed to buy
• 13:01
  any more plane tickets because we have to perfect the environment. Sorry, yeah,
• 13:05
  right, You're not allowed to buy this bottle of vad today because we
• 13:09
  think you've been drinking too much this month. And if that sounds crazy,
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  China is already doing it. If you're not going to roll it out in
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  the West, then you haven't been a thaying attention. Yeah, it's definitely
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  a means of tyranny and the who knows, maybe it's the mark of the
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  beast. You know, in the Revelation it said that in order to do
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  anything, you would have to have a number, right, and oh maybe
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  it's it. Everyone's got everyone's going to have a number. You know.
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  It's interesting too about cbdc's we think about the very high level stuff, like,
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  okay, they can turn off your money. They already can do that
• 13:39
  to some extent. But turning off your money is just the tip of the
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  ice. Right. They can immediately text your money, so they take tax
• 13:46
  out and just immediately straight into the government coffers. What about this? What
• 13:50
  if they set expiry dates on your money? Exactly? We're that Gary.
• 13:54
  So if you have ninety days to spend your money, so you have to
• 13:56
  spend it, you can't save The deal is like economy is not doing good,
• 14:01
  so they say, hey, here's one thousand dollars worth of CBDC,
• 14:07
  but you got to use it in the next thirty days or try and stimulate
• 14:11
  the economy guys, right, you know, and just the the means,
• 14:16
  the nefarious possibilities that it opens up, you know, it's going to be
• 14:24
  rolled out a crisis too. Yeah, So what you're feeling is about precious
• 14:30
  metals. Is that a barbarous relic or does it still have a role in
• 14:33
  our digital world. It's interesting. I've got gold and silver. I like
• 14:37
  precious metals. I enjoy the collecting aspect, like in the coins and the
• 14:41
  bars. It's fun. Sure that being said, gold compared to bitcoin,
• 14:46
  for example, has been a massive underperformer. And if you like gold,
• 14:50
  then you're really gonna love bitcoin because it's got a lot of the same properties,
• 14:54
  just with more volatility. It's an earlier assets, a younger asset,
• 14:56
  and you think about the general use cases for why you're holding gold. You're
• 15:00
  holding gold because you want to protect your value, and bitcoin also protects your
• 15:03
  value with more volatility. You can't look at a day to day, week
• 15:07
  tweak month to month even you have to understand a multi year period on it.
• 15:11
  Any of the bitcoin that I've bought in basically the last seven eight years
• 15:15
  is in profit now. Sure, and I know we've had a big run
• 15:18
  recently, but even recently, even when the price was at like thirty thousand
• 15:22
  dollars, I was still in profit on my bitcoin because I've just been consistently
• 15:26
  adding to that position over time, and it's got a lot of features that
• 15:30
  make it more interesting, of course than goal. We know the verifiable supply
• 15:33
  a bitcoin. We can send bitcoin anywhere in the world. Try to take
• 15:35
  a ten million dollars of gold across a border with you good luck, good
• 15:39
  luck. It's got to be a hard take ten million dollars in bitcoin easy.
• 15:43
  Hey. So, so you know, the government has these restrictions like
• 15:48
  if you have you can leave the country with the ten thousand dollars or more,
• 15:54
  but you have to report it, and if you don't and they find
• 15:56
  out, they'll confiscate it, and it's a whole mess. But with bitcoin,
• 16:02
  you just have your wallet, and hey, your wallet's accessible wherever you
• 16:07
  are, so it really impinges upon the government's potential for control. There's other
• 16:14
  aspects I don't want to get into it now, with the nodes, the
• 16:18
  weakness of the basic bitcoin architecture that makes it possible for governments to do things.
• 16:27
  But we'll say that for next time. In the meantime, Lark,
• 16:30
  how do we find you? How do you subscribe to your newsletter and Twitter
• 16:36
  and all that good stuff. You can just find me. Look up Lark
• 16:40
  Davis on YouTube or Twitter. You'll find me. Make sure you get the
• 16:41
  verified account on x A lot of imverse stayers out there, and you want
• 16:45
  to check out our newsletter. It's a great Alpha pac newsletter. We try
• 16:49
  to get you as much news and air drop info and NFT info and all
• 16:53
  that kind of stuff, you know, depending on your risk levels in the
• 16:56
  space, every single week. You can find it at the wealth master io
• 17:00
  all right, and the link to that is in the show notes to this
• 17:06
  interview on Financial Survival Network dot com. So just go there and click it.
• 17:10
  While you're there, sign up for your free newsletter as well, and
• 17:14
  Lark, been a total pleasure, really. You know what I really like
• 17:18
  is I can see your understanding of the crypto space very deep, very profound,
• 17:25
  and yet you're able to express it in bite sized nuggets that many of
• 17:30
  you out there are looking for but can't find someone who has the ability to
• 17:36
  do it. So, hey, I'm a subscriber now. I suggest everybody
• 17:40
  out there subscribe. Go for the premium, not that much money, it'll
• 17:45
  definitely be worth your while. I think this is one of the best ways,
• 17:48
  Lark to keep track of the space in ways that people who are not
• 17:52
  technically oriented, who you don't have the technical tools to understand all this is
• 18:00
  really a plus. So appreciate you coming on any questions, comments kl at
• 18:04
  Carrie LUTs dot com. We will get you an answer quick. Lark,
• 18:08
  we'll talk to you again soon. You're a regular on the show. Now,
• 18:11
  thanks for stopping by, Thank you, thanks for listening to Carrie Letz's
• 18:15
  Financial Survival Network, your solution to today's trying times. For the latest,
• 18:21
  go to Financial Survivalnetwork dot com. Financial Survival Network now more than ever,