This episode of the Blockrunner Podcast breaks down one of the most revealing weeks we’ve seen at the intersection of crypto, AI, and creator monetization.
What began as a promising experiment in creator capital markets quickly turned into a live stress test for liquidity, incentives, and trust. We walk through the rise and collapse of the Ralph token, why it initially made sense, how it gained traction, and why it unraveled the moment the creator sold. The fallout wasn’t just about price action. It exposed deeper structural problems that most internet capital markets haven’t solved yet.
From there, the conversation expands into the accelerating timeline toward AGI, why looping AI systems and agent swarms change the nature of work, and what happens to human purpose when intelligence becomes abundant. We react to Davos conversations, including moments where Bitcoin is openly laughed at by legacy financial institutions, and explain why those reactions reveal more ignorance than confidence.
We then tackle the uncomfortable question most Bitcoin holders avoid: how the network remains secure long-term. Transaction fees alone are not a viable answer. We explore why Bitcoin’s security budget faces a real challenge over the next decade and why a second subsidy may be the only credible path forward without changing Bitcoin’s core protocol.
This episode ties everything together into a single thesis. Internet capital markets are early, powerful, and inevitable, but without proper incentive design and liquidity structure, they will continue to fail in dramatic fashion.
If you’re thinking seriously about AI, crypto, creator monetization, and Bitcoin’s future, this episode will challenge your assumptions.
Learn more about the second subsidy thesis at natgmi.com.
After returning from a long trip from Mexico, we summarize some of what transpired over the last week. We discuss events occurring around the world such as the virus called Coronavirus that's infected over 6,000 people. We reflect on Kobe Bryant's death and figure out why so many people felt this loss so deeply. Andrew Yang being the only candidate with a cryptocurrency policy won an Iowa Youth Straw Poll and why it might indicate his potential to win the presidential nominee. Bitcoin has been rising since the start of 2020, could we be in a bull market right before the halvening occurs? We're a week removed from our interview with Ben Kelly. He's one of the more knowledgable about the Axie Inifinity NFTs and we debrief on our conversation and reflect on the whole NFT ecosystem emerging. Finally, Decentraland is launching February 20, 2020. The Block Runner has 2 more games in development as we get ready for the launch.
William and Iman interview the man they call Elon Stark because of his talented skills for developing automation techniques to solve problems in the gaming industry. Ben Kelly started his career collecting and competing in the world of Magic the Gathering to going from a few hundred Axie Infinity NFT's to nearly 10,000 using his team's proprietary breeding engine. Ben describes how he first heard of Bitcoin and how he got involved in crypto. He also explains what makes an Axie Infinity NFT so valuable and how he optimized Axie Infinity genetic identity to breed more powerful and more rare Axies. Finally, we explain our own NFT idea to Ben so he can give us his thoughts on how viable it could be.
We've been discussing Non Fungible Tokens lately in our search to predict the next asset class to be the next speculative craze. NFT's in short seem to be slowly growing over time in volume. We look into the assets on Opensea to discuss the viability of these assets, why they become valuable and why they may become the catalyst to mass speculation. We also break down the differences in the current NFT standards for Ethereum for ERC721, ERC1155, and ERC998. Each created for a specific purpose to satisfy a particular game mechanic or style. NBA player, Spender Dinwiddie tokenized his NBA contract to receive funds up and pay his investors a 5% bonus on their investment. We discuss how this might be a common occurrence in the future. Finally, we discuss an idea we've been tossing around that could help bring a larger audience to Decentraland and at the same time create a valuable resource to the NFT economy.
We return with the first recording in 2020 and we discuss why Bitcoin might be pumping and speculate whether the conflict between the US and Iran has anything to do with it. We discovered that the origin address for the HEX project has exfiltrated almost all the ETH in several transactions at 1,337 ETH per transaction. 1,337 is LEET speak and a calling sign for trolling. We speculate that the exit scam has already begun. We follow up with John McAfee's bet on Bitcoin and how he decided to back out of the bet. Andrew Yang is the only candidate that is aware and has a policy on cryptocurrencies. He is undergoing an attack by mainstream media and omitting him from all mentions. Finally, we go over the winners of the latest Decentraland Game Jam competition.
In our next installment of our Mythical Creature series we are joined by Andreas Antonopoulos! In our discussion we dive into the events necessary to cause mass adoption of cryptocurrencies. With the adoption of permissionless currency, how will governments of the world cope with a censorship resistant monetary system? We also discuss how cryptocurrency could change the power dynamic of the currency world reserve currency - the US dollar. We keep hearing the economy is at an all time high, but is there a possibility we might be at a tipping point for the world economy? We’re fast approaching the Bitcoin halvening which will render the inflation rate smaller than that of the US dollar. We find out how this might affect the US dollar and Bitcoin itself. One of Andreas’ presentation included the concept of one network multi-chain solution that will help tie many of the technologies together in a cohesive network. Finally, we ask Andreas’ thoughts on NFT’s and the application of it in the gaming industry such as Decentraland.