Episode 6 Tales from the Crypto with Sam Ridgeway and Cameron Sykes
Cameron discloses two new picks we’re going to be dumping our money into along with why he recommends them as buying opportunities.
[00:00:00.000] – Sam Ridgeway
Hello, everyone. It’s Sam Ridgeway and Camron Sikes, a resident guru. Another episode of Tails from the Crypto. And the market took a little bit of a beating over the recent past, but even though everybody’s getting their asses handed to them, I want to come in and just get a few picks like SNX. That’s one of yours. That’s up 20%, Ava is up 21 1/2%. And Luna is up 21%. Even though the whole market is getting hammered, we actually have some coins that are actually doing well.
[00:00:34.680] – Cameron Sikes
Oh yeah, absolutely. I mean, in our first episode, we actually recommended QUAN. So if you bought it after a first episode at 85, you would have had over four. He could have hit $428 just a couple of days ago. So you’d have a pretty insane return on there. And overall, you’d be doing pretty good even with the crash.
[00:00:50.960] – Sam Ridgeway
That’s crazy. And we did go buy QUAN later. We didn’t get it at the $80 something. I mean, you had recommended it, but I’m just going through buying all these coins. So I was just kind of picking and choose and I’m like, okay, something that $85 as opposed to a couple of bucks. And that’s one of the lessons we need to teach people here. Just because a coin is expensive doesn’t mean you’re not going to get as much. We would have gotten so much more money off of QUAN buying it at $85 than we would at something like even even Luna right ?
[00:01:25.160] – Sam Ridgeway
So don’t think that something is expensive. You shouldn’t buy it because again, it’s the percentage it is going up if it goes up 50%, if you made 50% of your money, regardless of where that cost $85 or where the cost of buck 50.
[00:01:38.080] – Cameron Sikes
[00:01:38.750] – Sam Ridgeway
That’s a good lesson. So anyway, I’m just going to turn this over to you and go ahead. And this one. Alright.
[00:01:46.610] – Cameron Sikes
Perfect. Well, hey, we got some good ones for you today. The first one is Covalent and their ticker symbol is CQT and you can get them on crypto. Com. They’re trading for around $1.45 right now, and they’re actually really cool. They’re kind of similar to almost like a Google for blockchain. And essentially what they do is they leverage big data technologies and they create meaning from hundreds of billions of data points that leverage when delivering actual insights to investors and allowing developers to allocate resources to how utility goals within their organization.
[00:02:18.340] – Cameron Sikes
So what are the use cases for that? So where could that be applicable? So the first big one is going to be taxes. So every single the centralized financial action is a taxable event. And so being able to have access to this data helps firms be compliant. So if a trader uses coin base, they can quickly download a CSV of their trade data. Besides Covalent, there’s no such thing for decentralized exchange like that on uni swap or sushi swap. So that’s a really big one. But the big thing right now is through NFTs. As NFTs are becoming more and more popular over the last couple of months its become way more important for NFT projects.
[00:02:53.080] – Cameron Sikes
Be able to provide a means of analysis and so Covalent become the leading NFT data provider. And NFT projects like Chain Guardians and ETherman are now using Covalent’s API to not only just power novel features within the specific like each product, but they’re also doing it to improve the user experience.
[00:03:10.260] – Sam Ridgeway
Right. And you know, I think maybe just a quick explanation of NFTs because NFTs are cool. Like, I mean, these things are going first of all, that some of them are going for ridiculous amounts of money. But if I understand it correctly, like if somebody in the NBA were to do a crazy play, like the NBA could sell that portion of that shot, what happened and you could own somebody, whatever it was they were doing, you could actually own that. That is yours to use. You own it that entire play, or it could be art.
[00:03:47.640] – Sam Ridgeway
Like my wife. She loves painting. You do too. You’re artistic as well.
[00:03:53.020] – Cameron Sikes
And you could create your own sale on Open Sea right now if you want to get them. No, I love it $9.
[00:03:59.850] – Sam Ridgeway
So it’s way to own things, digital images of things and you actually own that like that is yours. Like, as if you had the whole thing in your hand. So this opens up an entirely new like possibility or opportunity for artists.
[00:04:17.720] – Cameron Sikes
And another interesting case for this is actually within DOWS and DOWS are kind of like the future of the workplace. And so right now most people work for a company in the future. I think people might be working for DOWS, which are like companies, but decentralized. And so basically those require reliable and real time data for making informed decisions. And so basically what they do. It’s no surprise that individuals can use Covalent API to view and examine proposals, interactions so that one can understand how active members are and creating proposals and voting on them as well as members voted for it against their proposals.
[00:04:54.690] – Cameron Sikes
In general, they just drag data from all over the Internet and all across multiple blockchains and aggregate into one area to where you can go and disseminate through that and more or less do stuff based on the data that you’re able to gather. And so that’s going to be really huge. It’s essentially like the Google for blockchain, and we’re really excited about it. We see some big investors talking about they are in right now and they’re not going to sell until it has, like, a $1 billion market cap.
[00:05:21.980] – Cameron Sikes
Right now, the market caps around 65 million, which would put theyar re selling target on this at around $20 a share and was training around 145. I think that’s going to be a potential for a really good return. Right here the next one we’re going to talk about, which is Boson protocol and the ticker symbols Boson and that’s B-O-S-O-N. And you can get that on crypto.
[00:05:42.050] – Sam Ridgeway
[00:05:42.270] – Cameron Sikes
It’s training for about $1.21 right now. And so their goal is basically like if Covalent is going to be the Google blockchain, Boson would be the Amazon of it. I’ll tell you why. Their goal is basically enable commerce between buyers and sellers. That doesn’t require an intermediaries like Amazon. So they’re beginning with the Metaverse commerce by creating the infrastructure to decentralized stores in places like the Central and which is like a really popular game, just fully immersive game that they have the actual Mana token, which is another coin we’re probably going to talk about in a couple of weeks.
[00:06:18.280] – Sam Ridgeway
Give me an example of a NFTs NFT is nonfungible token. That’s what it stands for. But give me an example of how you might play a game and you have some money and you can go to this thing and buy a better sword. How would it work in a real world experience?
[00:06:36.930] – Cameron Sikes
Within this example, NFT’s are essentially the mechanism where it’s essentially a smart contract that obligates the buyer to basically be able to receive a gift or like an object or utility or service from the person selling that. And so the way that works is like in within the central, and it’s basically this fully immersive world and where people are actually actual big investors are going in there and spending millions and millions of dollars to buy plots of virtual land to develop it and build essentially commercial properties within where players in the game can go and interact with each other.
[00:07:11.620] – Cameron Sikes
Like a big fund. I think just last week spent $10 million to buy this gigantic plot of land into Central Lam and their inter planning on developing and building stores. And people are actually interacting within these virtual worlds within the Metaverse, using a native token, which is the Mana. And so essentially with this, what Boson is going to do is can bridge the gap into where people within these virtual worlds are going to be able to buy actual assets in the real world and vice versa.
[00:07:43.340] – Sam Ridgeway
Do you buy a house?
[00:07:44.580] – Cameron Sikes
[00:07:47.280] – Sam Ridgeway
A house in the real world.
[00:07:48.740] – Cameron Sikes
Ultimately, that’s what they’re pushing for. So right now it’s easier to go buy this stuff within these worlds. But right now within that world, you can be able to use that stuff to go buy stuff in the real world. And the way you do that through Boson protocol. And basically these NFT contracts that he designed to facilitate as well.
[00:08:07.650] – Sam Ridgeway
Cameron, you’re doing great with the picks. Obviously not everything is up. But again, the market took a pretty good hit recently, and the fact that we have coins that are up in the group is just absolutely amazing. So again, all of you out there buy these things and hold these things. These things are going to go up in value. This isn’t something you have to buy and sell and buy and sell them and watch. Buy it, sit it there. And in the long term, theoretically, hopefully it’s going to go up far more than you could ever get out of a bank or anywhere else.
[00:08:39.330] – Sam Ridgeway
You could put your money.
[00:08:40.160] – Cameron Sikes
Absolutely. And I think we had kind of a rough week with a little flash crash, but I feel like this time next week and especially this time next month, we’re going to be talking to having an entirely different tune here. And this time next week, our fund could be up 50% for all we know.
[00:08:55.210] – Sam Ridgeway
These are buying opportunities too, right? Like when it comes down and then flash crash and you get something like it comes back down by let’s say it took a 30 40% hit. Okay. You buy a little bit more of it. Yeah.
[00:09:07.830] – Cameron Sikes
Dollar cost average lowers your cost basis and makes it easier for you to hit your actual returns. And honestly, just right now, I’ll be buying up Luna on the cheap because September 30, when they release a Columbus five main net upgrade, things going to absolutely blow up. And I think that’s going to be well over 100 by the end the year sounds great.
[00:09:25.580] – Sam Ridgeway
All right, Cameron, again, appreciate all of everything that you do, from all the research to all the reading, all the rest of stuff and just giving us these tokens, these options, opportunities that we can just hold and increase our net worth. So anyway, I appreciate it. We’ll talk on Wednesday. Can’t wait till like Luna just goes through to the moon.
[00:09:45.840] – Cameron Sikes
So counting down.
[00:09:48.120] – Sam Ridgeway
Alright, brother. Talk. Sorry. Bye.