Illuminati Round Table Call Notes:
Marcus Peters - Crypto YouTuber, aka Professor Crypto Banana:
Down The Rabbit Hole:
Twitter: @Prof_Crypto_B
Marcus Peters entered the crypto market in 2020. "in reality, the markets are going to do what the markets are going to do..."
Marcus lost a lot of money when he first invested.
Soon after, he was thinking, if Bitcoin is so volatile, what is going on with all the other tokens?
Curiosity did what it did and sent Marcus down the rabbit hole.
He pointed out that even if he was trying to make profits, he started looking for all the benefits and technology.
Key things to focus on before investing:
DYOR, getting to know technology and all sides of the project.
Keeping up with socials for your projects: Twitter, Telegram;
YouTube videos
The reason for creating a YouTube channel:
The curiosity and constant will to do research
Exploring as well as explaining stuff
Crypto is still tempting and challenging.
He also thinks that he may save a lot of people’s time who tend to do their own research on which they'll probably spend at least 3 hours.
With what you've seen in this space, from the recent FTX damage all the way back to Luna, how do you expect the market to respond or shape up as a result of these events?
More prominent players in the crypto scene felt the consequences of these events.
Now is the time to do some research because there are some excellent opportunities in the bear market, so examine the projects being built, check their use cases, what value they bring, and so on.
Make a list of projects because, as Marcus mentioned, we currently have the luxury of time.
"I'm taking a world of a different approach...things can go down, but I'm just learning and utilizing this time wisely so that I can catch the upswing and be ready for that."
Marcus also pointed out the FED regarding how much liquidity they provide to the market and interest rates, which most likely has a significant impact from a macroeconomic standpoint.
Who benefits from the current crypto situation?
The fact that there are these major institutions (J.P. Morgan) building their separate divisions.
Marcus posed an intriguing question: "Is it possible that they're just loving that things are kind of low and quiet so that they can build up their foundation and be ready to go for the next bull run?"
There has to be some sort of catalyst - real-world utility?
Instagram plans on having an NFT marketplace, and video games have begun to appear as the most natural fit with NFTs. That is why he believes that real-world utility will be a crucial factor.
The significant entities must figure out how to connect to the real world and make it profitable, after which other companies will be forced to do the same.
Copy & Paste
Garlam (Host) said, " It's like I see a lot of like copy and paste, like these games, and like, I think that's why I'm a little bit more skeptical."
He mentioned that many projects are just building, not thinking about game economics, games, or in-game systems, but instead focusing on the tokenomics side rather than having an actual playable game.
The problem is that many founders have the "if it's not successful on Web3, we'll just kind of move back out into Web2, right" approach.
Leading gaming companies want to maintain their brand.
PUBG, CSGO, and League of Legends are some of the famous AAA games that don't need NFTs
"I really don't see these guys having to kind of risk their brand, especially with crypto," Garlam said
What's next?
According to Garlam and Marcus, we have a lot of time to think about things right now since we're dealing with the bear market.
The bear market allows us to think about some of our decisions and try to understand how the industry will evolve from here.
Final thoughts
The bigger you get, the more risk you consider because when you're a smaller entity or a minor player, you know you can go 100% into everything, and if you lose it, you rebuild it all over again.
However, as you grow, the risk becomes a very prominent variable in your decision-making kind of criterion, perhaps even more than 50%.
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