The hacking of Bondly Finance and the hottest news from the NFT world

The hacking of Bondly Finance and the hottest news from the NFT world

About this Podcast:

Welcome back to “The Valuart Podcast”: a weekly appointment with art, crypto art & technology. In this episode, we discover the latest and hottest news from the NFT and crypto world. To start Eddie and Izzy talk about the hacking of Bondly Finance that damaged the trading platform. We also announce the Valuart newsletter written by our prodigious Izzy Godina every Wednesday (subscribe now https://swiy.io/valuart-newsletter-yt). Staying up to date on cryptocurrencies and crypto art has never been easier: discover a new book every week, to stay on track on new technologies and virtual currencies. In the episode, we continue to talk about technology and artificial intelligence, how work will evolve in the immediate future and what is happening to NFT. Continue to listen to find out more about our real-life gallery in Switzerland. Valuart is an NFTs oriented ecosystem. Founded by Vittorio Grigolò, Michele Fiscalini e Etan Genini, Valuart has the final aim to enhance artists and their artworks. Valuart will introduce by the end of the year several Unique NFT’s of some of the Masterpieces ever made.

Listen to the specific part

00:02
Intro
03:01
Bondly Finance hacking
07:19
Spike Drop
09:45
Decentreland
14:52
JetBrains

Episode Transcript:

the valuart podcast welcome welcome to the valuart podcast welcome back this is episode two we're excited to be here uh last week the first episode was a little clunky and that's okay we we're having fun with it we're freestyling um i personally enjoyed it izzy how did you feel about it i felt good too i mean we were clunky but smooth so yeah and we have made some adjustments if you're watching this you can see i'm wearing headphones now is he's also got headphones in we've tried to adjust our eyelines we're trying to be professional hopefully the audio quality is uh is good uh we have a lot of news a lot of news for valuart and a lot of news in the crypto nft art space i've been doing a ton of reading especially reading related to upcoming guests which i'm very excited to tell you guys about but not yet you have to wait we're still figuring out the format we do have someone joining us i'll mention a little bit more about that in a moment first thing i wanted to talk about is izzy is doing our newsletter and the newsletter is for me so educational and uh i was hoping that we could just talk a little bit about what's in the newsletter this week and uh just yeah let's just start the conversation there so izzy so last week i started with the first edition of my newsletter i'm gonna be doing this on a weekly basis every wednesday if you guys missed out on last week's newsletter what you can do is go on our website and subscribe so what my intention is in this newsletter is to really dive into the depth of you know the biggest news during the week in the crypto space nft space but also i've decided starting from this week's edition to start suggesting books because eddie knows i i love reading i'm just like a bookworm always always been always i'm gonna be so hope you guys like my book suggestions i have already a short list from you that i'm looking forward to getting into i think there's so much uh there's so much to read and the space moves so fast that you have i don't know how you can decide what gets into the newsletter like every it feels like every hour there's something there's something new to include in there i guess my biggest inspiration for the newsletter is twitter just because twitter kind of resonates like everything that's going on right in the crypto world better than any other place as well as reddit uh those are like my two main sources there's also some really cool websites too that that really go into depth like cointelegraph i personally like for crypto news what's buzzing this week on twitter what what can you share with us what's in the newsletter what's the biggest the biggest story so definitely bondly the heck of bondly uh that's been the biggest news this week um i've been personally impacted by it but i'm staying strong i'm sorry i'm sorry exactly trying trying to stay positive so what happened is that the hacker was able to get into this mint bug and replicate out of thin air a huge amount of fondly tokens oh and this happened on the 14th of july what he did just about a week ago what he did on the 15th was cash out everything for the value of a little bit over 5 million no [ __ ] it was it was really bad everybody on twitter has been talking about this all day every day the telegram channel is exploding the ceo he communicated via twitter but a little bit late so this already got the kind of the community kind of angry he stepped down shortly after and harry you the co-founder stepped up as ceo so they there are some theories that say that it has it was a rug pool i i really loved the manly project so i really don't want to believe that um there was a rug pool just for the uninformed and explain to me what you mean by a rug pull like what does that entail so rug pool is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors funds yeah you're just like getting hype getting people involved and then they're like all right well we've made enough and we're out peace exactly yeah so we're still kind of waiting on what's the next steps but what the you know some rumors are saying is that they're going to be uh replicating a new token so that's going to take a while to recreate but um it happens to some also very strong projects um ethereum right in its first years they've been through a lot they had like a huge hack so they had to recode they even had another attack called shanghai attack so it's it's been intense there's a technical term like that i think is going to be used right now in a bondly is that when they have to recode so in this case create another chain another block chain it's called the fork so what happened in the ethereum case there was like a a division there's like the people okay you know there has been this problem it's okay to recreate a code instead there's like the really peop like really the og the loyal ogs exactly then you have like the really loyal thing being about no we don't accept like you to recode even if there's a problem this is the chain it's gonna like save this is the code it has to be this way right right um so there's there was definitely a split there too to what extent does the hack affect an investor like other than the market responding and being like uh get out is there anything that you own or like is your wallet at risk or is like anything that you have at risk i guess it's more like the value at this point because in this particular case what happened is you know he created millions of tokens like out of thin air uh so it's like inflation in a way exactly do you have access to your account and everything or is everything frozen i still have access the thing is that now what they suggest in the telegram channel is to not invest because a token is worthless now so what they are going to do is replicate another token so that you can kind of like transfer to that oh this is a mess holy crap yeah okay wow yeah so yeah so that's big that's one piece of big news that happened this week hopefully hopefully that gets sorted out um and hopefully you're not too too heavily affected by it sounds like you already have been i'm sorry about that that sucks i have but yeah i've got other other investments so okay okay so next news that happened with ethernet chain they officially um the south american football federation announced that they would officially have this partnership with ethernet to mint the copa america trophy and along with that they would also mint four collectible nfts cool this sort of overlaps with valuart and what we're doing with our platform and i think that's probably a good segue to more big news this week is our first drop this week is the banksy drop uh it's thursday uh the 22nd we're really excited about it and i have no idea what to expect like i said last week it's my first like live drop like auction um i'm gonna love it yeah yeah i heard that we have uh some pretty exciting investors looking at the piece already and there's been you know some some whispers of people people taking part in the auction so i hope that's the case and i hope i hope we're surprised by the response honestly um but who knows we'll see don't forget to tune in and eddie are you gonna be auctioning like are you gonna be i'm not gonna be bidding on the piece i feel like that's a little bit of a conflict of interest but i also don't have what i imagine uh is an appropriate bid for something like this so uh i'm just gonna i'm just gonna watch this one and uh i mean we can start in the beginning when we could i could just say that i took part in it are you gonna be exactly well if i i was thinking i was gonna first gonna ask you if you're gonna bid i'm gonna bid i'll be late okay so this is already a competition we're on episode two and you're already competing with me all right yeah i am as a matter of fact but who knows maybe i'll get excited and swept up in the moment and i'll decide to i just set up my metamask account last week i didn't have one i had like a coinbase wallet and some other things and i'd never even used metamask but i'm it's pretty cool like as a browser it's great and like for security purposes it's really great so i'm exploring things i can do with it do you want to know why i set it up i do appreciate that because i'm going to invest in virtual real estate i don't know i don't know where or what yet but i was looking at the central land and the sandbox and i don't understand anything that's going on there or what like any of it entails like what does it mean for me in the future what can i do with it i've never played roblox i've never played minecraft i don't know like what culture there is around this stuff so i'm looking forward to getting into it and i was hoping that there will be a chance for you and i to for you to educate absolutely yeah absolutely and you know i i think were you having fomo a little bit weirdly enough i was like i didn't expect it i went to the i went to the decentral land website and i saw all the i'm just really prone to i think flashy colors and and i don't know yeah fomo yeah i i mean i checked out decentral well you know i'm part of the like the metaverse daily um so on a daily basis i'm truly in love with it um i checked out personally decentraland um just a couple months ago it was just a normal sunday afternoon i was with my boyfriend we were like let's check it out because we didn't know about it either so actually you know what eddie we can meet in decentraland like you can download it already enter we can meet there because when we were checking it out months ago what happened is that we entered the world we met this random mexican guy and he was like hey you want to buy some land and we're like can you explain like what's going on here and he was just like yeah you know i bought this piece of land a few years ago for one thousand dollars now i'm sending it for 50k wow so you you can just roam around without any of your own real estate you just need like yeah just like anything else you can just like go and is there is a server based did people host things like you yeah like so you walk around and you know you can meet people i stayed in just for an hour so i would actually have to like dive in again and get to know a little bit more but um you just walk in and then you already see some buildings that people own do they build them or do you have to be like a developer to make this stuff or do you buy these assets like what is this just like real life but just digital it is it is oh this is so bizarre so if you go on the website you can actually like see the marketplace you can actually buy also clothing for your avatar um yeah but there's there's way they really monetize okay i want to do this maybe maybe we can like live stream that that would be cool like me and you i don't know if there's any security risk in that but you taking me through my first steps into the metabolism yeah i think that would be really exciting i'm speaking up so this is an another good thing to bring up is we've got someone joining us and on our team for the podcast um mark aka apocalypse daddy who i've been reading his blog pretty thoroughly over the last week or so and i am so excited to connect with him and to collaborate with him his boundless curiosity i really identify with so i'm looking forward to exploring these things together he's going to be helping us producing in the background and i hope we'll have him on for an episode too to talk about this because he has a great article about internet 3.0 and the metaverse and i just want to hear you guys discuss it especially because you have like already some experience in it and he has done quite a bit of reading and and uh research into it and i'm just this sort of naive lost physical human being um so i would love to make that thing like we could talk about maybe you guys can help me invest in my first piece of digital real estate because i live in rotterdam and rotterdam is so far beyond my capabilities of buying real estate at this point i'm like i might as well get started on the next frontier and that's that's some something digital i i think it's a great opportunity you know like brands now they're everybody's kind of having fomo because the next big thing is facial web like you don't want to miss out just like many missed out on the beginning of web 2.0 they're like i'm not going to miss out this time on web 3.0 so the spatial web is going to be a huge thing as a matter of fact in my newsletter i also do suggest a book um it's called the spatial web by gabrielle renee and dan may mapes i hope i'm pronouncing his name right sorry and it's an incredible book that really dives deep into this cool so it connects all the technologies both the ones that aren't like stable at the moment but like moreover the ones that are um coming into our our like our daily routine such as blockchain you know 5g that everybody's talking about now and he just describes it in such a an amazing way it he goes like he gives you a st historical background um some insight so also some personal opinions and just gives you some really you know really good examples of the technology and what's nice is you can see all of the technology merging together right at a certain point that's like like that's so scary like internet of things in these virtual worlds mixing with our world is so exactly exciting but also at the same time unnerving uh because i where does the where does the boundary lie then like where is the where does real life begin in like virtual life that's the whole point like yeah yeah that's the whole point i'm not ready you're not ready no you are ready come on i'm not ready [Laughter] no that's that's the point it's kind of like you won't be able to identify what's physical and it's not last friday i was i was doing some directing for a brand called jetbrains which they build software for for engineers for software engineers and they also have a language that is backed by google for for developing android apps they also have a tech lab in amsterdam which is so freaking futuristic like you walk in there and it's just screens everywhere they have like a drone uh fighting arena and they have this stage where robots perform they have a thespian robot that dances this fred astaire thing it's really cool but so they hired through my uh collective they hired me to direct a video two two videos on friday with the boston dynamics dog spot do you know spot have you seen videos of spot i haven't actually so that's something that i have to add too spot is this really bizarre like uh really crazy you've probably seen the dancing videos there's these dancing videos of this yellow robot dog check it out right now it is uncanny it's 100 kilograms it's very agile it moves very fluid like like almost like a real dog but it's clearly not it's very much a robot it's just the way that it moves it feels like cgi in real life it's like looking at augmented reality without any lenses or any glasses or any screens and i i got used to it pretty quickly which was also sort of what scared me but when we took it to vondel park in amsterdam which is like i think the biggest park in the city or at least in the center the reactions were priceless like there were people that were like oh it's that robot it's oh my god do you know how many times i heard the words black mirror over there and and people genuinely terrified of it like one girl screamed and she was like i can't look at it i'm gonna have nightmares tonight and i was like yeah i feel that i feel that but yeah but yeah so this this is the thing that scares me is like these pieces of machinery these like very capable powerful pieces of machinery becoming connected to this network of things to this internet of things and eventually i don't know we were carrying it at one point because we wanted to save battery so we could have it last throughout the whole day for for both videos so we were carrying it between locations so it took four people to carry it between locations and this one guy who was doing the uh canal tours the boat tours he was watching us walk by carrying this dog and he goes he goes this is how it starts this is how the uprising starts like who's really who's really asleep to who in this in this image and i was like yo this really looks bad we're carrying this dog we're doing our work for it there's another very good book called the price of tomorrow you should read that one too i'm gonna write that one in the next newsletter um that one does go more into artificial intelligence robots and what's going to become of us right so our jobs are they going to steal our jobs or not and you know there too it says it's all there's we're going to have different jobs too right yeah yeah at a certain point that's that's the fact we're going to be completely changing so of course they will take over some jobs it's just a normal false process just like now how many jobs like are we not doing that we used to yeah i think a lot of things are being automated things that you may like 50 years ago have never expected to be automated yeah i have this uh weird so i've been consciously aware of how i communicate about these kinds of things like about artificial intelligence and about like machine learning things and about these like about spot i've been consciously aware about how i communicate in the things that i publish because i have this fear one day of these things becoming sentient and reading my my history on the internet and being like and like trying to cancel me for like being xenophobic like you know what i mean like yeah i don't i want to be i want to be sensitive to their one day robots will cry i don't want to be the reason why you know maybe like one of your best friends is going to become a robot i don't want to have some ignorant [ __ ] like i'm like 50 years old and i'm like i'm just like an ignorant nasty old man and robots don't like me yeah i don't want to be that guy i don't want to be okay so that's it for episode 2 of the valuart podcast thank you for joining us again this week uh we hope that these insights and these stories and learning together is valuable to you guys and as i mentioned last week if there's anything that you want to offer to us feedback criticism uh love hate whatever it is feel free to share it speaking of reach analysis we're actually working on our reddit uh channel as well as telegram so we'll be actually i'll be communicating that shortly on um our next newsletter as soon as it is released so i'll keep you updated on top of that we also wanted to let you know that on the 22nd we're also going to be opening our physical gallery in paradiso lugano so you absolutely have to be there so a real life gallery for digital artworks to be understood that's right i think are you gonna be able to go at some point i'm i think i'm hoping to get out there i i will unfortunately now not for travel but uh yeah i'm hoping at the beginning of august so it's gonna be all right so that's it for this this week's episode guys thanks for joining us again and we look forward to next week so enjoy the weekend and we'll see you all again soon ciao

Meet your hosts:

Mark Fielding

Producer

Eddie Contento

Host

Izzy Godina

Co-Host

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