By good friday everybody i hope you have some great
plans for this weekend i know i've got a lot of really great plans first a word from our sponsor
today's episode is brought to you by catmost.io the atmosphere is the first game fi on the chia
ecosphere allowing you to battle and also trade your cats for other cats get involved at
catmos dot io all right so today we are addressing a topic that i think is very important
so this topic comes down to the security around you your finances and cap based projects so we
have yet to see a rug pull or another kind of incident happen this early i wouldn't
expect something to be able to manifest also in a cat yet uh to my knowledge i could be wrong
about that also so sound out below if you know of anything also make sure that while you're
down in there that you hit like and subscribe so let's go over a couple of things that i
think are pretty important to address for a cat so when you have a cat based project that
is enabling entrepreneurs at a very micro level to create projects and value for the community and
value for themselves in exchange for things like chia or something else which they could exchange
for cash you've essentially created a marketplace for businesses ideas and people to create profits
and value for customers now let's take a let's take two different kind of perspectives here a
for profit meaning that these are profiting uh they're charging you something for something
and also the non-profits we might say these are like memes or just educational sometimes or
uh there's a variety of them out there they're what's interesting is they don't fall into a
single category and i think we will continue to see a bifurcation of categories as cats and
ideas come more and more into the ecosphere this is really just addressing for-profit cats a
for-profit cat would be something that would be exchanging something of value for uh something
of perceived value or actual tangible value so that could be a cat charging for an nft a pre-sale
charging for an nft or even you know raising funds for other business purposes or something like
that also doing educational outreach or funding of some sort of a project or a person those are
all going to exchange money for profit for the person that is offering the tangible offer file
to you so let's talk about what you in my opinion as a informed consumer should be looking for in
any of the for-profits that you're engaging in and i want to also put this out there i have
talked to a lot of the people that are behind cats and i've let them know i think these are
also some good guidelines that i think that they should make publicly available in some form or
fashion and i've also opened up the venue so that if somebody wants to talk about these things and
they don't have a platform other than you know a discord or something like that or maybe a twitter
for putting them out there i think those are still really good places to put them out there but they
can certainly feel free to come on and talk about their project with me and i have some clear
guidelines for that that i'm issuing as well so let's talk about the criteria that i think kind
of encapsulates some of the information you should be asking before you get involved with any cat the
who the team behind a cat is an important thing to consider so if they're offering something that's
maybe a highly technical product it will they be able to deliver is a good question to ask if they
are offering something that is an artistic uh venue uh which we've seen a lot of so far then are
they you know capable of producing the art at the level that they're suggesting that they're going
to be able to these are some things that i think you know giving a kind of credibility to
the team behind it is a good thing to do certainly i'm not suggesting that people you know
go fully de-anonymized it's the internet people don't want to do that but you know links to other
things that they've done the more information that they give out probably the better and better
it is for the community to get to know them so if you're asking for money in exchange as a
business it's not uncommon for somebody to know who they're doing business with uh so do keep that
in mind as you're moving forward if you if you are dealing with something that's completely anonymous
you might want to you know take that as a point of consideration the what this one is in my opinion
a very important one so what exactly will the deliverable be what form will the deliverable
be in knowing those things going into a project gives you clarity and expectations of what you're
going to get on the backside of that project so this also includes kind of less than tangible
things that are associated with the you know artwork you might be getting or if you're doing
outreach or if you're doing some sort of other funding then knowing what it is as far as your
funding with this cat is an important thing in my opinion so uh ownership rights associated with
ip related to cats will become something that is an issue because it's already an issue in the nft
space so understanding ahead of time before you even involve yourself in a pre-sale what the ip
ownership of something is is something that's very important in my opinion now there's a lot of nft
projects that have already launched so and i don't think anybody's really thought of it or talked
about it yet to this point but the copyright that is associated with an image is something that i
think everybody should be considering what are the ownership of that so people could explicitly state
that people could not explicitly state that that could be vastly different wherever you're at in
the world so if a project is intending to impose a restriction i propose that they would let people
know that ahead of time before their token sales also if there's going to be any sort of
opt-in language for the minting process i believe that that should be out there and
published ahead of time before the pre-sale even begins obviously that chicken has flown the
coop on several projects already so i hope for the projects out there that they can put together uh
some sort of a you know if they are intending to and they certainly don't have to intend to but if
they are intending to opt people into any sort of an agreement to put that language together
as soon as they can and let people that have already engaged in the pre-sales know what that
language is i also think it would be very fair if people do not want to opt into whatever the
language is to offer some sort of a channel for that person to get their funds back so i
think those are important things to consider the what behind a project exactly what are you getting
may seem really simple but it also can sometimes be kind of complex the win this is something
that will manifest when you know that you are being rug pulled this is where you're going to be
looking at something and the win is going to be not what you expected so it could either be
completely delayed or immediately and they're gone so if you see let's talk about a couple
trouble signs here a project going on hiatus for an indefinite period of time without notifying
people that's something that i don't think that would be good for the ecosphere if you're
a cat project out there i think updating people even if you are just updating them that you don't
have a time yet that's an update of i don't have a time i'm working on it and you can give certain
pieces of information people love teasers and it keeps the community involved and it builds trust
in whatever the nft project is going forward so the win is one of those things that i think uh
eventually at some point in time we've got to talk about it there will be somebody that eventually
does something bad a bad actor in the ecosphere so i hope that that doesn't happen but uh you know
the reality of human nature is that it probably does and the win will be when you recognize that
it's happened because they will probably just poof all right now the why i don't actually
think this is necessarily as important uh that we're dealing with a lot of intangible assets
currently so i think that might be uh something that is a little bit more ethereal in its uh scope
but i do think there will be things that come out not necessarily as abstract as a piece of art
in what their why is i mean certainly a dancing alien's a dancing alien certainly and marmot
is a marmot and certainly most of the spartans were spartans so these things will appeal to
people on different levels for various reasons so the why is not necessarily something that i
think at this moment is something to get super concerned about uh i'm not even thinking that with
most nft projects there is a necessarily really great why other than this is what it is so the
next one is talking about the where of a project this one also doesn't necessarily seem like it
is a wildly important topic because the where could be literally just the internet uh it doesn't
necessarily have to have aware yet so it could be on the why and the where behind projects that i'm
just not thinking of something that i should be thinking of sound off below with anything that
i forgot to mention in this and be sure to hit that like and subscribe button so hopefully as
a community we can continue to innovate on the chia blockchain in a variety of different ways and
offer files really allows that to happen at such a micro level that it's really cool so i would
suggest that most projects out there do some sort of an outreach let people know about these kind
of things because that certainly builds confidence in your product as well as your capability set i
also think that both offer bin hashgreen and any other future dexes that come out should put out
really clear criteria for what is it what it is to get listed including if there's amounts of
charges or money that people will need to have that gives people that might start a project a
really clear idea of some of the things that they would probably want to engage in unless they want
to create their own channel which is interesting and also certainly possible so everybody make
sure that you sound off in the comments below let me know what kind of stuff you're buying so far on
uh the different various dexes out there what kind of nft projects you're involved in also what kind
of other things you're in i have really been just bumped up the past couple of weeks in everything
going on on cats i think this is a defining moment for the technology we have not seen something
like this in a different crypto technology out there before the level of innovation this
brings and the capability set that this brings to smaller individual teams is something that
i look forward to being even further refined with the nft standard when that's published and
certainly with whatever that layer two tech that gene keeps hinting about might turn out to be
alright everybody be sure to hit me up at go spaceport on the twitters you can hit me up on
the discord links below for that also be sure to check us out on the website where i actually have
published all of this in written format links to that below a good read maybe people can get some
information there uh and you know maybe use it as a good check card for if you're going to be buying
something and if that something is expensive you might yeah take a second think all right everybody
we will see you guys next time be sure to hit like and subscribe and check out these videos for
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