Full transcript: Nikita Uriupin on London Real
3:26 Brian Rose: This is London Real. I am Brian Rose. My guest today is Nikita Irapin, the entrepreneur, marketing expert, problem solver, and Web 3 pioneer. You are the CEO of Memento, an AI powered platform that identifies high potential meme coins by providing detailed analysis, scam detection, and investment insights. You say that meme coins aren’t just speculation, they represent the fastest product market fit in crypto history.
3:50 You’re also seeing a fundamental shift in how blockchain projects reach mass adoption, how engagement mechanics are evolving and why product LED marketing is overtaking influencer driven hype. Unlike previous cycles dominated by VC funding and paid marketing. You say we are moving towards grassroots engagement, gamified participation and product LED strategies as the real drivers of success. Nikita, welcome to London Real in Dubai.
4:15 Nikita Uriupin: Thank you.
4:16 Nikita Uriupin: Great to be here.
4:17 Brian Rose: It’s great to have you and I want to start by saying that Memento is one of our portfolio companies here at London Real Ventures, the world’s first media powered investment firm, where our mission is to transform the world by investing in cutting edge Web 3 and AI companies while giving our partners marketing exposure across the London Real Media, the platforms and academies. We heighten awareness, create customers and build communities by leveraging our global audience and extensive network.
4:38 Brian Rose: Nikita, we’re super excited to be part of this journey with you. So let’s jump in. What is Memento?
4:47 Nikita Uriupin: Yeah. So Memento is a trading and analytics platform powered by AI. So initially we started as a some kind of a scanner for different layers of data in MIM coins, specifically MIM coins, because there there are so many scams in the space. And we just wanted to make sure we give the users as much data as possible based on the analytics we’re getting from holders from their own chain data and just put it in one place.
5:25 And when we started testing the product with the end user, we realize that they want to apply that into trading right away. So that’s where the shift happened and we turn more into the infrastructure for trading. And right now we are the fastest but and provider on Solana. We have the best notes, we provide trading tools, snipe sniping tools, copy trading, and it’s evolving every day because the space is so fast-paced and we just have to adapt every single day because when the market is that quick, you just have to take over the user every single day because there are so many products, so many tools, so many meme coins, and it’s just it never stops and you have to go there and grab them over and over again.
6:45 So that’s what we do on a daily basis.
6:48 Brian Rose: I mean, it really is a jungle out there when it comes to crypto in general for the average newbie or even for someone who’s been now. Yeah. And then on top of that, you add in meme coins, which are, you know, 10X even crazier. They’re dropping all the time.
7:04 They’re almost always anonymous parties. There’s sniping involved, There’s pumping, there’s dumping. It’s it’s just crazy. And there’s very few tools out there to even know what’s going on. Most people don’t even know what sniping is, that it exists. And, you know, I kind of barely know because I know some people in the industry and I listen to what they’re doing. But I always know, Look, I worked on Wall Street for 15 years.
7:26 And the traders on Wall Street, they’ve got so many tricks up their sleeve that when the average consumer come in, comes in, they can run circles around them. And if I know that’s true on Wall Street, on meme coins, if you’re at the cutting edge, you’re probably always coming up with the next thing.
7:43 Nikita Uriupin: Yeah, it’s the Wild West and you’re shooting from the hip.
7:47 Brian Rose: And so let’s start off and tell me, what is the state of the Union of Meme coins? I don’t think anybody expected 2024 to be kind of the year of meme coins, but it really was. I’d say it seems like things have cooled off a little bit since maybe Trump and Melania and Libra and Solana. Maybe you can talk about that.
8:05 And I’m also curious if you think they’re coming back. I think a lot of people don’t understand meme coins. There’s that famous influencer named Murad in the community who did that speech, I think at Token last year where he he really gave a different perspective as what is a meme coin? And it’s not necessarily hype, it’s not necessarily gambling. It’s a whole community and human element. So like, how do you explain those to people? What is a meme coin and why do you say it’s the best product market fit in history?
8:32 Brian Rose: I’ve never heard that statement before.
8:35 Nikita Uriupin: It’s the fastest product market feed because it takes 10 minutes to launch the token, It takes one hour for it to take off, and then there’s it’s just limited by the grid. Right and four more hours for somebody to get rich and other people, the left crying. Of course, OK. And it’s unregulated, like you said, it’s a Wild West, similar to what was going on in the NFT market when high net worth people just who had access to to the capital invested huge amounts into the community building.
9:11 And that’s how they just utilize the retail market to take as much money as possible out of it. We saw the same thing where a celebrity would drop at 10,000.
9:22 Brian Rose: Very similar, very similar case to NFTS when a lot of a lot of celebrities had to apologize later on and we see the same very same picture in here. And now people were dropping meme coins on the celebrities names and not even getting the celebrity involved so it even got a few iterations weirder. Welcome to. Crypto, right?
9:46 Nikita Uriupin: And talking about Murad and all the people who are saying that new coins are going to be big. I don’t think so. His portfolio is 90% down, OK, since talking 2049 and that’s the market. This is a fact and we live with it. We have to live with it because the market changed so much. I’m talking to the VCs who invested in my projects before, who I still working with right now all of the VCs are are going liquid.
10:23 So they’re not investing much in Wastings anymore. So and that’s that’s the situation that was just built by the current market of Mimcoins. The whole liquidity is sucked out of utility projects and it’s horrible because currently the market is built around the grid and retail is coming in and a lot of people were very happy about the inflows of new money coming in into crypto. But it’s not that type of money that goes into utility and really understands how the market works. So the problem here is they come in into the market, they lose money and there is a lot of negative information about the space going out there.
11:20 So yeah, like I said, that’s a very similar situation to what we saw in NFTS. And there was a huge damage to Web 3 space. It was back then and it is now because you and you cannot blame people for that. They come in because it’s broadcasted as a get rich quick scheme.
11:41 Brian Rose: But you know, there’s also 100 amazing utility driven projects and of course the new consumer wants to buy the meme coin. So it’s you kind of can’t blame them. But then the choices they make as newbies by definition is on the meme coin, when in fact you could invest in an L1 or an L2 or something with long term view but they don’t want to hear it.
12:09 Nikita Uriupin: Yeah, as we always say, it’s all about the education, right? And it was like that for the past. I mean, since the Bitcoin was live, everyone is saying that we have to educate people about crypto and we have to educate people why meme coins are.
12:28 Brian Rose: Now you don’t believe meme coins have a long term potential here? You don’t think they’re going to be big?
12:38 Nikita Uriupin: I think it’s any other trend like NFTS. NFTS are not dead. There are utility projects here still around and I think this is the case from endpoints like properly backed projects that are not abandoned right within the first month. As we see like 99.9% of the projects are being just abandoned.
13:05 And obviously it’s it’s very complicated for the founders of devs how how they called themselves in Nimcoins. It’s hard for them to still be working on the project if they cashed everything out. The price is just. Right. Close this year it’s.
13:28 Brian Rose: Interesting because you know, we’ve been in this market for four years now and when I was, we were here all through the bear market. We’ve invested through the bear market and kept teaching and broadcasting. But I remember looking at Doge and Sheba and they never moved really from their ranking. It was always like #6 and #11 on coin market cap all the way through and then they’ve stayed there. And so you can’t say meme coins are are dead or pointless because the strong ones with communities, they outlasted a lot of projects.
14:00 Nikita Uriupin: It’s all about the community.
14:02 Brian Rose: Yeah. And so meme coins, it’s weird because they all get wrapped into one word, just like NFT is a terrible word because Non fungible token is it’s it’s a real thing. But if anybody says NFT to me now on a pitch call, I pretty much throw them off Zoom because you’ve just lost me and you’ve lost all your credibility by even saying those 3 letters meme coins, They’re not all the same, right? You can’t compare, you know, doge to something on pump fun that spiked and is now worth nothing, right?
14:28 So there’s something there, right? A great community is what people are looking for, but you have to invest in that over the long term.
14:39 Nikita Uriupin: Yeah, it’s, it’s, it’s still a new market. So it has to mature in some way to to get to it’s final stage. Well, right now we still see a lot of activity in the MIM coin space. Pumped Up Fun just launched their own decks and made 500 million in three days of volume, and it’s just very detailous. OK.
15:04 Brian Rose: What’s this market cap or TV?
15:06 Nikita Uriupin: Honestly, I don’t even know. I just checked the the volumes yesterday, it was something between 500 and 600 million and that. Didn’t spike and crash. Yeah.
15:19 Nikita Uriupin: And it’s going to grow because their share of the market is just enormous.
15:23 Brian Rose: How much can we blame Pump dot fund for the last three to six months? I mean, they made dropping a mean coin so easy. Maybe you say too easy, but then again, it looks hard to blame people. Like I’m a free speech advocate and I was at Solana break point in Singapore last year and I bumped into this guy there and he said, you know what, Brian?
15:43 People give Solana a hard time because of all the garbage here. But he said, at the end of the day, it’s free speech and and if you go to base, base won’t allow you to do this and this and this. But like that’s not expression. And so we should be allowed to express ourselves. And so you can’t really blame Pump Fun for creating something that people want to use. I think they’re great.
16:03 Right. You think they’re great, right? But if they didn’t exist, you probably wouldn’t have seen the madness that we saw. So what? What is your take on all that? And will Pump Fun continue to exist? Or is the party over for mean coins?
16:17 Nikita Uriupin: I think they will still exist and as we can see, they’re building new ways to keep people in. And yeah, that’s you just letting, letting them take even more profits from the market and they’re just using the momentum. And I think from the founder perspective, it’s a it’s a great approach.
16:34 And we’re trying to, to do the same. Like we, we’re trying to minimal, minimalize the the chance of being scammed for people with with analytics, but we still providing a lot of tools to trade and just to be on top of the market in some way.
16:54 Brian Rose: Let’s see, it’s giving you the edge over the rest of the retail and in some way it’s protecting you too. That’s what Memento’s doing, Yeah. OK, so let’s let’s say that I want to invest and trade and play in crypto.
17:11 If you want to be in one of the most volatile, exciting places, you’re going to have to be in meme coins. So let’s say you want to play there, then that’s why you plug into Memento. Because if I come in as a retail newbie or even an experienced retail person in crypto, like I don’t know what’s going on with the meme coins, I hear some weird name, It gets launched. There’s no time to do any doodle. It’s probably impossible to do it myself. I log on to Memento and you start looking at the activity, right?
17:38 You got AI powered pieces that are looking at who owns it, who’s buying it, all the things that are going on, right? And that allows me to make intelligent decisions. What are some of the things going on with the mean coin launch that the average person wouldn’t know that Memento can help them discern?
17:58 Nikita Uriupin: Obviously you cannot tell that something is 100% safe, especially in the market, but there are reflex like like what? The supply being sniped OK.
18:08 Brian Rose: What does sniping mean?
18:10 Nikita Uriupin: It means automatic purchase of large amounts of supply right at the launch of the token. Right, usually bot driven, yes.
18:18 Brian Rose: So OK, so just I’ll try to explain this to the average person. So the meme coin launches and in the initial stages, it usually launches at fair value, which is near 0 right?
18:31 And so the initial buyers obviously have the most upside. Now if it goes nowhere, then it’s going to go nowhere, but you’d rather buy low than buy later. And so these bots come in and they snipe, which means they try to buy a bunch of it as soon as possible. And you probably need a bot to do that because a human can’t go that fast. We’re.
18:47 Nikita Uriupin: Providing it too.
18:48 Brian Rose: OK, you do that too.
18:49 Nikita Uriupin: We’re doing both sides.
18:51 Brian Rose: Right. And then the idea is that then later, sometimes minutes or hours, they’re going to sell after the humans come in and create the hype. And that’s called sniping.
19:00 And they take that initial spread and that’s where a lot of the money is. And if they’re really effective, they’ll crash the price back down and kill the whole project. So sniping can kill your project even if you have good intentions.
19:16 Nikita Uriupin: Yeah, 100%. And it doesn’t mean the depths of the founders of the projects are doing that. Like if someone let’s say you’re launching Brian token and you will tell me I’m launching it tomorrow. Here, take a look.
19:31 Now I know that you have a token and I know that you have access to proper marketing and I will tell my friends and it goes like that and someone will snipe it and someone will dump on you even if.
20:32 Brian Rose: All get blamed.
20:37 Nikita Uriupin: Yes, yes, exactly. And I’ve seen it multiple times, even with the
20:57 Projects with good teams, docs teams who who did that and they were just screwed over by their own partners because it’s 100% greed and that’s the market. It’s very risky, but the the reward there is huge. And you gotta understand as a user that it’s a gamble because I see many influencers who you would think you promote the token, you have the insider info, but they still go to 0 at some point because they start gambling. And you gotta be very careful because sometimes there are parts of the launch that you cannot control, like sniping, because you can snipe, but you have options that someone else is there and you just cannot control it.
22:00 Brian Rose: Why a lot of founders are still sticking to utility projects even though the market is horrible for it. The liquidity is not there.
22:13 The tokens are down, but I don’t think it will last forever. We’ve been through a couple of bear markets. I’ve been through with the bear markets myself. And even though it feels like crypto is going up, all the institutionals are buying crypto. Trump is talking about crypto, but still it’s it’s not in the best shape right now. Why is that?
22:43 Nikita Uriupin: Because of this shift in MIM coin trading, honestly I have no idea where what is the direction we are going towards in terms of the how the tables will turn over time because I don’t think VCs and investors will go back to the old approach. In terms of the Long Wastings 2-3 years, we saw that it’s not working. Investors are losing money anyway because the retail is selling. It’s it’s a very long time for uneducated person to hold the the investment. Now all of the visas are holding their investments for such a long period of time.
23:28 It’s not traditional finance. With your background and traditional finance, you probably know that it it takes a lot of time to get good returns encrypted. It’s it’s a different case. You can take profits in a month. Sometimes. Yeah, and it’s it’s hard to not to do so. OK.
23:53 Brian Rose: So you think memes are going to come back because we’ve seen after you probably argue that the Libra launch on Solana, which was the token that was associated with Javier Mile of Argentina and some people in Asia, that probably was the last big launch. It sucked a lot of liquidity out. It probably burned a lot of people and we haven’t seen really a big meme coin launch since then. And maybe first of all, you can maybe speak on that. And also, do you think that we will see a comeback, will mean coins get big again in 25, will pump fun, start doing more volumes again?
24:29 Is this something that’s here to stay?
24:32 Nikita Uriupin: We need more people. I’m not sure that we need those people, but for, for this market to come back have to be people, people similar to the ones who pushed Libra, who have access to those influences to to the to the views of huge masses of people.
24:50 Brian Rose: Right, because they were new to crypto, a lot of those buyers and of course their first time they get. Yeah.
24:58 Nikita Uriupin: And the question is what are the intentions of those people because with Libra we saw that it’s just to dump as much as possible regardless of the outcome for for the retail.
25:12 Brian Rose: Do we know what happened there?
25:15 Nikita Uriupin: We don’t know 100% what happened, but again, there was an insider who paid the president of Argentina to do the post and he was not educated about the process, about the intentions. So, and they did that and they dumped the token and that’s everything we know, OK.
25:36 Brian Rose: And how much of that was insiders and how much of that was snipers and outside people?
25:43 Because you never know. Obviously, the founders get blamed.
25:49 Nikita Uriupin: I think on that level, when such a high, high level of people are involved, there are a lot of ice and a lot of a lot of people around who hear about it. So you don’t if you don’t know how many people know about it, right? So maybe the execution team even didn’t plan to ruin the token in the way that it happened, but.
26:18 Brian Rose: Cuz if you’re a doxed insider they always get blamed and for me I’m always thinking why would someone just ruin their. People don’t care. Right. Maybe sometimes they don’t care, but also sometimes it just doesn’t make sense. Like someone who’s got a pretty good Rep in web three, like are they really going to do that?
26:34 Nikita Uriupin: But maybe for maybe sometimes they don’t care. Maybe for 10 mil they’re not going to care. There are different options when when you when you run the project, it’s all about the decisions. And maybe they find found out that a lot of a lot of the supply was snagged by someone else and they decided to dump before them. So there are many factors that you just don’t know about it.
27:01 Brian Rose: OK, And so Libra, the big difference was it got retweeted by the president of Argentina, probably one of the top 10 most famous people in the world, probably brought in a lot of international people.
27:15 And it was the perfect setup if you want to make money off of a token, whether you’re an insider or an outsider, you have all these new buyers, maybe new money, unsmart money. And then it crashed and now there’s lawsuits and. And, and he he kept posting. Did he?
27:32 Nikita Uriupin: Well then he he pulled the post. And posted a few.
27:35 Days later and said what I what did he just made? Him, he posted right right after the crash, he posted another one, OK. And then he apologized. Right. OK.
27:48 Brian Rose: On that same note, Trump launched his token a few weeks earlier, the day, two days before he took office. I remember seeing that and I was like, Oh my gosh, Trump really is a wild card. You know, And they say that’s one of his greatest negotiation tactics is because he’s so unpredictable. And Trump obviously skyrocketed. Then Melania dropped and I was like, this is getting weirder.
28:09 What did you make of the Trump coin? Because again, they said I think 1/3 of the buyers there was the first time in crypto from what they were seeing, I think by the Solana wallets and things like that. So in one sense, it’s great because it brings new people in. Now Trump, you know, didn’t dump as bad. It’s down, but it’s still there. And Trump’s still here.
28:28 I think he they owned 80 some percent of the supply. I don’t think they’ve liquidated any. How did the Trump coin make you feel and what did you learn from that?
28:43 Nikita Uriupin: I’m a huge Trump supporter, and I think he, his team and his sons had done a great job being on top of the news, and they just controlled the environment in the news, and I think it’s great. So regarding the token itself, yeah, it’s wild.
29:04 It’s crazy, He. Tweeted about it 2 days ago. Yeah, yeah. And he tweeted that maybe he mentioned one of the conferences that there will be utility for the token. I think this is the way.
29:19 I mean, he cannot afford to just dump the token on people. And I think this is this is the way for new coins to start introducing the utilities for the community because again, it’s all about the community and how long will it last. And that’s a problem that we see in the market. It just goes down to 0 very quickly. And there is no intention to to build something long term, OK.
29:53 And I’m not even talking about utility projects. It just has to be has to involve people on a a bit longer distance. Right. Has to bring the community together somehow. It could be utility, It could be something else.
30:11 Brian Rose: You know, let me ask you a question. Trump, before he takes office, has to divest, I think, all of his business interests. I think, you know, Eric Trump is running all that stuff now. But then if he’s supposed to do that, how can he promote his own meme coin? Like, you know, legal wise, it’s definitely a fine line, isn’t it? It is I.
30:35 Nikita Uriupin: Mean I’m I’m not an expert in U.S. law, but.
30:40 Brian Rose: I’m not either, but it’s same as the Liberty Company. They have World Liberty Financial.
30:49 Nikita Uriupin: Yeah, yeah, yeah. That is run by another sub company, yes, that is not connected to Trump, It’s a separate management, right. So I think it’s this is the case for the MIM coin as well. And on the other hand, SEC just said that min coins are not an object of interest for them.
31:18 Really. Yeah, OK. Like a month ago they said that they will not investigate into min coins at all because it’s just a gamble.
31:29 Brian Rose: And is that good, do you think?
31:31 Nikita Uriupin: It’s good for the market because all the lawsuits, all of it is, but it’s not good for the reputation, right, Because it’s still under regulated and it damages the perception of what crypto is for people outside of crypto.
31:50 Brian Rose: Yeah, although it probably would have been impossible to regulate.
31:56 So it’s probably better they didn’t try. And again, they could only do it inside the US probably. So probably better they take a step back. And I’ve been really happy with almost all the SEC decisions, dropping lawsuits, and hopefully we’ll have some stable coin legislation soon coming out of Congress. These are all good things. You know, Trump’s interesting because the family is running World Liberty Financial, which is their D5 project just announced their stable coin a couple days ago. Obviously they’re doing a lot of things there. I go to the website and Trump’s pictures on there as part of the team, which is wild.
32:27 Donald Trump. And then it’s got obviously the the kids in there, Baron and Eric and Donald Junior and then a bunch of his other members, some of the staff like Steve Witkoff, who’s the guy negotiating the, the, you know, truce with Russia is there as well. And so it is a weird, you know, I don’t know, fine line of conflict of interest, but it does show us that the administration is all in on crypto. And so in that sense, I’m really happy because they’re actually trying to build something and they’ve been debanked as well.
32:54 So I think I understand why they’re going to do this. And they’ve been frustrated. Again, I always tell my team and my students, based on all the information coming out of the White House right now, Bitcoin should be at 125,000. It’s like this is the most bullish administration on crypto. Every single day there’s a new bullish announcement. The, the, the, the stable coin legislation should be in place in four months or so.
33:19 Bank of America CEO says when that’s in place, he’s going to launch their own stablecoin. It’s just like, I can’t think of any more bullish news that’s even possible coming out. And yet the market seems to be in this wait and see approach. Now maybe it’s because it’s correlated with equities and we don’t know what’s going to happen with tariffs and with the conflicts, but this is super bullish for crypto and even with all the burns and memes for me I feel like we’re 50% lower than we should be.
33:50 Nikita Uriupin: 100% And yeah, obviously the reason for that is not about the crypt itself, about the environment in the world currently, political, economically.
33:59 And I think as soon as we are done with the case, some of the worst, it should go up, but we’ll see.
34:06 Brian Rose: Yeah, we’ll see. Let’s get back to Momento. Say that I want to go in and be ready to trade on the next thing that’s coming out of pump fund or the next meme coin. Or say I want to get in and trade Trump or trade in some other meme coins because Trump had a little bit of a pump recently and I’m still holding my Trump coin just because, you know, never sell your Trump coin.
34:30 That’s what I say when I get in there. What are some of the things that the Memento platform can help me do? Can it help me avoid the sniping? Can it help me really understand the players involved in the background? And what are some of the tools that you’re gonna, you know, give me that are gonna allow me to intelligently trade these things? Yeah.
34:49 Nikita Uriupin: So on the analytics side, there are like I said few pillars. You can check the holders and the breakdown of the ownership of the token. And obviously that that would let you better understand if large amount of tokens for snipe at the beginning of the launch. Another thing is if the token is present in the socials, you would see who’s following the account. Because even though there is a shift of the influencer LED marketing to community LED marketing, timing LED marketing in the min coins, everything is about the momentum. I don’t know the news about the what was that the not token squirrel?
35:48 Brian Rose: OK, Yeah. Yeah, I think Squirrel died or something like that and hundreds of not tokens just popped out out of nowhere. The guy had the squirrel as a pet and then I think some.
36:03 Nikita Uriupin: Yeah, they. Took his squirrel and killed his squirrel.
36:07 It was like the Biden administration or something were blamed on him and then all of a sudden the the squirrel memes popped up and started going crazy. And, and it went on, Chris, and yeah, it’s all about the momentum, momentum, momentum. And we’re just trying to analyze the current market and on the trading side, we build this infrastructure to provide those tools to be the fastest. And it really gives you an edge because in the market is everything is about the speed of the execution and even one second can be defining. I guess we’re talking to our users every single day just to because we have to update the tools that we are working on. For example, pump swap came out, we had to integrate it the same day.
37:07 Otherwise, people would be just crazy because they have to buy from the pump swap. It’s not integrated, and they would leave the product. We see those spikes of people coming into the product and then leaving just because of those small details. And you have to be very, very quick with the integrations, with the updates. And on the trading side, like I said, we’re providing the fastest tools to buy and sell to track the socials.
37:38 For example, you can follow Trump, let’s say if he will release smart contract address on his Twitter or Telegram, whatever, we would have automatically snipe a certain amount that you asked us to.
37:56 Brian Rose: OK, I can. I can. Auto snipe with you. Yeah, OK, exactly. Got it.
38:02 And that’s important because in socials, who’s following a project makes a difference. Because that’s a serious decision you can make. You can’t fake that, right? And so when Trump announced, I think on true social, the Trump coin, people weren’t sure if it was real, if he got hacked and then it was confirmed, I think later on something else. And then all of a sudden it started getting momentum.
38:22 Nikita Uriupin: It’s a risk you have to. Count in, I mean the hacks you have to risk manage as always. Again, it’s very complicated for people outside of crypto who are not educated about finance and 99% of people don’t know what risk management is.
38:40 Brian Rose: So and what’s pump swap? And is is it just a way of swapping? Yeah.
38:45 Nikita Uriupin: So when? When you’re working with with the tokens on pumped up fun, there is a bonding curve. Like you, you have to reach a certain market cap for it to go to to the decks. Before that it’s like AI don’t know security, OK, and then it goes to the decks. And before that it it went to Radium or hanging out the Solana decks. But now they want to control the fees as well and they’re making so much money.
39:24 Brian Rose: So now you had to integrate. Their new decks into your platform as well and OK,
39:29 Nikita Uriupin: because they they listed on their decks first, they allow that to happen.
39:34 Brian Rose: OK, got it. OK. And so I plug in with you. I get to help socials, I get to know if sniping’s happening. You allow me to do some sniping of my own if I want, and then I trade with you on that platform.
39:48 You take a fee for all that information.
40:05 Nikita Uriupin: 1% fee. Of all of the trading and we’re providing this infrastructure for several players in the market as well. OK, because it’s
40:59 There are. Many, many companies who want to provide those tools for their communities. And again, back to the utilities, some of the meme coins want to provide the tools for training for their communities. So the communities would pay the fees in the meme coins. So that’s that’s a good sign that they want, but we only see that with the biggest ones. OK.
41:26 Brian Rose: Are you going to? Potentially white label your platform for other meme coins to use.
41:31 Nikita Uriupin: We are already. Doing that and that’s where the majority of our profit is coming from.
41:36 Brian Rose: OK. Do you think Memento right now?
41:38 Is the best trading platform for memcoins when it comes to AI powered sniping socials. All that information integrated to where it’s the best way for people to trade
41:51 Nikita Uriupin: 100% is the. Fastest 1 analytics wise, it’s the biggest one from the perspective of the amount of data that we are pulling from different sources. So yeah, I think we are for sure one of the best because it’s hard to tell that you are better as the tech is always changing and this tech is always changing and the notes are different. And sometimes you just have more people coming in and then now it’s getting slower.
42:23 So you just have to be very present.
42:27 Brian Rose: OK, Is. Is your tech? Does it apply to non min coins? It is.
42:34 Nikita Uriupin: So right now we have the momentum is built on top of Solana and that’s where all the min coins are traded on. So we will be adding more networks, but we will see how the market changes over time as our edge is speed, our edge is speed. And you, you just, you have to find another space where speed is the key point because in, in the NFTS it was the case. So I think after the mean points, it’s going to be another, another direction where you have to act very quickly because for example, in U2 it’s tokens. It doesn’t matter if you buy it right now or in one hour, the market is always there and there is nothing to chase after.
43:29 Brian Rose: That being said, but TG.
43:31 ES for any coin is usually a volatile market. There’s usually high volume, there’s usually some, a lot of price action, TG, ES are happening. On the C axis, that’s that’s why it’s different.
43:43 Nikita Uriupin: Some are, although people are moving. Away from those now, yeah. And we?
43:47 Can see that a lot because I I launched my previous project on Bibit and Gate and Mexi we paid huge amount of money to be listed there over $1,000,000 / 1,000,000. Dollars
44:00 Brian Rose: When was this?
44:02 Nikita Uriupin: 23.
44:02 Brian Rose: Yeah, OK. And what happened?
44:04 Nikita Uriupin: I mean, it’s not worth it, not worth it and all of the founders I’m talking to right now and we discussed it with you on our first call the the game has changed.
44:14 Brian Rose: Let’s talk about that, because I. Think people listening to us and watching us right now might, especially if they’re newbies, might not understand the difference between a centralized exchange listing like a Buybit or a Binance or a Coinbase versus a Dex listing, which means listing it on a Uniswap or a Radium or whatever.
44:35 What are the pros and cons, and what is the old way versus the new way? How would you explain that to someone?
44:45 Nikita Uriupin: Think think of it as a publisher in gaming or in in in books. So if you want to get the audience outside of your own brand, you’re going to centralized exchange, you’re going to, let’s say, to gate. They have their own user base. They’re just pumping a lot of money in it. But they control it.
45:13 They control the launch. They ask you for the tokens, for the marketing tokens. Let’s say they they would ask you for 100,000. Any of the centralized exchanges would ask you for it. You have the right to say no, but that’s just something you have to negotiate.
45:34 But you’re going to pay hundreds of thousands of dollars. You’re going to give them one 2% of your supply, maybe more and and they will dump. Just they’ll dump on you, yeah. Just as the meme. Coins do and they don’t care about it because there are so many projects coming to them every single day. And that’s their profits, right?
45:53 Brian Rose: They have the distribution. That that you lack and projects lack. And this is the model and this has been going on for years, but this is starting to change. Some founders see this and say I’m not going to spend $1,000,000 + / 2 or 3 centralized exchanges not to get my token literally crushed. I’ve seen great projects with great founders get literally crushed and go to 0 because they got dumped on by centralized exchanges.
46:18 Nikita Uriupin: Yeah. That’s exactly the case and just imagine what what you can do with that kind of budget for the marketing and it would boost your own brand, right. So the alternative is self. Publishing, like you would say, take your book and publish it on Amazon and go direct to your Twitter audience and say, hey guys, buy my book as opposed to signing with Penguin and they take a huge advance and whatever. Yeah, OK.
46:45 It’s all. About their reputation, I mean, if you go sign with Penguin, you can go around and tell everyone your sign with Penguin and everyone knows that. And same with the centralized exchanges. You go to the conference and someone is asking you where you’re talking. At least you tell them all right, it’s listen by bit and they’re OK.
47:09 Nikita Uriupin: Now we’re talking and that has to change for sure because a lot of a lot of founders are being driven by that, OK?
47:21 Brian Rose: And it’s fair. You want to be treated as a high level project by other players in the game, by investors. And it’s very difficult to do so if you’re going independent. But again, you have the budget to achieve that level of like, fuck you from the perspective of marketing, right?
47:51 So the alternative is you take. That money you market to your community and grow it and then sell your token to your own community on a DEX on the day, a lot like a meme coin would launch. And in that case, that’s when people can use Memento just like they would on a meme coin. It’s probably going to move a little slower, but still they can use those, those tools, yeah.
48:13 Nikita Uriupin: And and and the market. Cap is going up in such projects since the very early stages of the launch, so you can make money, OK, it’s just a different game
48:22 Brian Rose: and now because of this, a lot of. Founders are are launching at lower valuations because they’ve learned from the mean coins.
48:29 When you do a fair launch or a low launch that the community buys in and everyone makes money. Whereas the old way was the VCs get in early, you launch it hundreds of millions of dollars FTV, the VCs dump or people dump and then it goes back down and your community gets burned. We’ve learned that the best marketing strategy is when everybody makes money, right? And so a lot of these projects are now doing that. We’re seeing that as well and it feels like the best strategy. It is the.
48:57 Nikita Uriupin: Best strategy for the current market for sure, because the previous model worked well for the previous cycle and we just have to adapt.
49:06 Brian Rose: OK, let’s talk cycles. Do you think we’re still in these four year cycles? If we were, by the way, this is the year because it’s kind of like 21 or 17. Do you think this market still runs on four year cycles or is it getting big enough and correlated to equities enough and enough institutional players to where it might just be equity correlated?
49:30 It might just be, you know, buying and selling like every other market.
49:36 Nikita Uriupin: I think it is. Being closer to to being correlated to the market to financial market more. And you can see that I’m talking to a lot of founders on a daily basis and everyone is saying like I haven’t seen anything like that similar to what’s going on right now in the market because it’s not a bear market. It’s still crypt is everywhere, everything is going down.
50:07 There’s no liquidity, no new users. It’s hard to get all the users back and seems like it’s going bad, but it’s not bad. And yeah, the the the concept is changing for sure. And I think there is not enough data about this new world just yet to to tell you if it’s changing from the four year cycle. But definitely something is going on in a very different way right in the past year.
50:47 Brian Rose: You think we’ll get all?
50:50 All time highs. By the end of this year we’ll get new Bitcoin highs like 150 K plus.
51:00 Nikita Uriupin: I think so. Again, it depends on the how the things go in the world, but hopefully the the biggest ongoing war will come to an end very soon and I think there would be a catalyst for big players in crypto, the top coins to go up. OK.
51:26 Brian Rose: You know, we talked to a lot of projects in the States and we’ve been investing for the last four years and it’s been very interesting to see how these CE OS now feel like it’s a completely new world. And I was wondering if you could talk about, you know, the new administration. We talked briefly about it, but Trump, there’s a businessman in there, the SEC now dropping lawsuits everywhere. And it’s looking like all these tratify institutions are now getting in. We’re now seeing GameStop announced they’re going to buy Bitcoin on their treasury.
51:53 More companies are either starting to or talking about buying Bitcoin on their treasury like micro strategy. Now strategy, You know, how important is it to have a business leader, you know, in the presidential’s office? And do you think that this is going to push crypto in a massive way?
52:12 Nikita Uriupin: For sure, 100%. And we we can see that already started going into the masses as it’s going from the top to bottom.
52:20 And I think as we see more and more high level companies buying bitcoins in its reserves, at some point it’s going to be just, I don’t know, stupid not to hold Bitcoin. And it’s great that they’re just dropping those limits. And all of us were afraid that the administration, the Biden administration would just make it so tight and so complicated for people encrypted to to grow. And it has changed very quickly with Trump being in the office, of course people are blaming him that Bitcoin. ‘S down makes me want to slap him because the Biden administration was so so terrible for crypto. It’s all about the trend.
53:26 Right. When you see, I don’t know S&P, it goes up and down, but you, you see the trend over the years and I think that’s what what is going to happen with with Bitcoin, it’s still going up.
53:38 Brian Rose: How do you think? Memento is going to evolve this year. Obviously, you’re constantly listening to the community, you’re adding new tools. How do you think it’s going to change as a platform like I said?
53:51 Nikita Uriupin: We’re trying to be on top of the market every single day and it’s hard to to plan anything even for a month. So over the year, I can tell you for sure that we will stay on top of the market in the next few years and we will be introducing new tools and we will be checking what’s going, what’s going on with the trends. And we’ll be just working to to provide the best infrastructure for people for other projects to to trade and to analyse the the tokens, not just me quiz
54:27 Brian Rose: OK, now it’s. Very interesting for me to ask you this question. How are you planning on launching your token? Because your business is watching tokens get launched poorly or really well and providing analytics on the back of it.
54:45 It seems like if anybody could launch a token intelligently it would be you guys. So how are you planning on doing this, When are you planning on doing this, etcetera?
55:01 Nikita Uriupin: Yeah, so. Obviously, we have a lot of data to plan the best launch even for myself as I have experience launching on centralized exchanges and exchanges. And we will apply all of the knowledge from the experience from the coins that we’re tracking in the market and we plan to do this month initially. But as the market is not in the best state, we decided to just hold off a bit.
55:37 So obviously we want our investors to do well. We want to go as high as possible and we want to be a long term project, even though we are in a space where everything is a short term, we wanted to build a very long term product. So yeah, we, we, we applying again all the best, all the best studies to the best things to, to the tokenomics and yeah, just mathematically it has to go very well.
56:14 Brian Rose: So you’ll launch on Solana. Yeah.
56:17 Brian Rose: Will you use any centralized exchanges?
56:20 Nikita Uriupin: I’m not sure yet.
56:22 Which ones are going to be used? But we want to, we want to use one or two, OK, just to bring that. Liquidity in, but not be totally reliant on that. Yeah, we don’t want to go. With huge exchanges anymore because we see that there is not enough liquidity to justify that. Yeah, yeah.
56:45 Brian Rose: We’re hearing that a lot with a lot of CE OS, and I think that’s really intelligent. But that means you have to have a community, and a lot of people either don’t have a community or don’t want to do the work to get a community. But if you don’t have a community, you probably don’t have a long term if you don’t have a community. It won’t work for any kind of project besides B to B. OK, let’s talk. About this because one of the realizations you’ve had as a multi time founder, something that I thought was really interesting and I think you can tell me more about this. But I think you realized through a few launches that ultimately if you don’t have this flywheel of a happy customer that you’re providing some great service for, then they’re not going to come back or spread the word.
57:25 And there’s never going to be this growing life cycle of a company that’s not just about the launch, it’s not just about the marketing. It’s like you believe, I think that the greatest marketing is a great product. Am I saying that right?
57:44 Nikita Uriupin: It’s a product LED marketing, OK, basically because when we started Momento, I had this experience from the past projects that you can pay influences, especially in web 3IN traditional business it’s a bit different. You, you have to work on the product a lot. But in crypto a lot of trust is being put into influences and Kols, maybe it’s not right, but it’s effect and it, it used to be like that for a very long period of time. And what we see right now is changing. I will tell you a story of how we spent a lot of money on marketing and it went to 0 we wanted. So we build the initial product, the trading tools and decided time to rent some money in marketing.
58:37 Brian Rose: This is an old project.
58:39 Nikita Uriupin: No, no, no. With Memento. OK, Memento. OK, Memento, we had those tools we wanted to get the users in. We didn’t do lots of R&D on what works, what is necessary, what’s not for the user initially.
58:56 And we just started spending money on marketing Kols, paid ads. And we see those spikes on the dashboard that users are coming in, they do trade and they then they leave after two days. So you can spend hundreds of thousands and if it’s not about the product, build around the retention and build from the feedback of the of the users. It’s if it’s not providing value, then he will just burn the money, all of it and nothing will help. So we we just did a 180 turn on our approach to how we build things and we started we hired more people who are talking to the users who are talking to the influencers and we’re just trying
1:00:50 To provide the tools that are viral as they are, not because of the social mechanics, but because the tools are so good, people want to share it with anyone they’re working with.
1:01:06 Brian Rose: Very powerful all right so you could see those spikes and the people weren’t coming back so you said OK, let’s really focus on product let’s talk to the people and get in their heads and find out what they want what are they using and just make it and and and the.
1:01:30 Nikita Uriupin: Interesting thing looking into the competitors in the space, the biggest ones spend the least on marketing because it’s all about the value.
1:01:43 Brian Rose: You know Tesla doesn’t have a.
1:01:46 Marketing department exactly isn’t that. Interesting. People forget that They don’t. You’ve never seen the Tesla commercial. They don’t spend a dollar on ads.
1:01:54 And yet they’ve grown. But at one point, it was the largest car company in America, all based on the product.
1:02:01 Nikita Uriupin: Yeah, exactly. Powerful. And I I think this is the future.
1:02:05 OK, overall I’m in the Tesla’s yeah ahead of
1:02:08 Brian Rose: and it’s weird though, because in web. 3 It’s a place where marketing is king and a lot of times people build tech and without the marketing it doesn’t matter. But a lot of times that tech actually isn’t being used by people. I think with Memento you have something that is really necessary and something that’s being used on a minute by minute basis for people to make money and not lose money. And so you have a real nice feedback loop on your product I think.
1:02:43 Nikita Uriupin: The interesting thing that’s going on in the market right now as we going more into institutional banking, I think Webtree will transient into something similar to traditional startups where it’s all about the product, not about the marketing, really quick profits because this approach with Kol’s showing your project and not about the product. And if you check out like most of the products that were built over the past five years in Web three, most of them are out of business because they launched the token and that was the end goal.
1:03:23 Yeah, and there is a huge contrast when you’re talking to founders in Web 3 and traditional founders. Traditional founders, they’re just obsessed about the product market feed. I haven’t even heard about product market feed in Web three, talking to all the conferences, people just asking how to how to launch the token, how to get people to buy and that’s it. So I I think that’s a necessary shift.
1:03:52 Brian Rose: It’s interesting. Because you know, look in traditional venture capital investing, you know in web two you’re looking at sometimes A5710 year horizon before you have liquidity. More than that, the.
1:04:07 The I used to work in in a hedge fund, right? And the normal timeline together for the VC fund, regular timeline together return for the exit is 15 years. Wow, 15 years. And now you’re talking, you own a crypto and it’s not 15 days, but you know, 15 weeks and you think, oh, this is great. We have liquidity, it’s democratized, but it’s there’s a lot of downside.
1:04:42 You know, first of all, you got something that’s Mark to market every day. It could be your worst nightmare. Your token price in live because it can kill your project and kill all the emotion around that project. And then you got to live with that thing. Most people don’t know how to design A token. Most people don’t even understand how to live with a token.
1:05:00 So it’s pretty interesting just to see how that can actually be a really a bug, not a feature, you know, the token. So it becomes a very interesting place to be.
1:05:13 Nikita Uriupin: But again, that happens in traditional finance as well. If the economic side of the business is not done right, it goes down eventually, even if it’s when, even if it went through IPO. And we’ve seen many companies going down all over the long term.
1:05:33 Brian Rose: Yeah, it’s interesting though. I really do think and hope we’re going to see a lot more projects. They, like you said, have product market fit most of our investments. I think we made two mean coins investments out of 100. They’re all these long term product market fits. People bringing insurance on the blockchain, you know, people building really good AAA games, people building really intelligent value add D5 platforms, you know, novel L1 projects, like things that we really think are important, but they just take time and they’re not as sexy as the mean coins. And.
1:06:08 But if you have a long enough horizon, you’re going to need them. And Tradfi is going to need utility projects. Black Rock’s coming in. One of the good things is RWA is a really positive narrative now. And that’s all about real function and, like, real value when done right. Yeah.
1:06:24 Nikita Uriupin: And. And the tech let’s the founders, the founding teams to to execute it because there was a, there were conversations about similar approach to RWA 20 years ago, like ππ investing in the real estate, but it was not efficient. And blockchain let’s us to do so right now. So yeah, it’s great that the tech is evolving and it’s changing and growing and it’s letting us to build those things.
1:07:00 Brian Rose: What do you think is the next network?
1:07:04 You’re going to drop on, is it something that’s a base or something that’s fast that seems to have a lot of eyeballs because I’m seeing a lot of chains just becoming less popular. What do you think of the series of the World and some of the other up and coming L ones? Is that something you’re looking at?
1:07:22 Nikita Uriupin: They’re looking at a lot of. Chains and it’s hard to tell what it’s going to be exactly because you see projects like Tron, for example, they announced that they will be launching a lot of projects on their network.
1:07:35 There was again this huge spike and then everyone is leaving because there is no liquidity in there really, because.
1:07:42 Brian Rose: Yeah. Justin came out, he’s been on the show and they dropped some mean coins on Tron and it took 11 week. For them to to drop off and then it’s gone,
1:07:52 Nikita Uriupin: yeah, it’s gone. No liquidity in there
1:07:55 Brian Rose: and things. Like base?
1:07:56 Nikita Uriupin: Yeah, basically. Is a good one. Still there is liquidity, but you cannot compare it to Solana.
1:08:02 Brian Rose: You know Suey is called the. Solana for institutions, it’s obviously got the speed. It’s still building.
1:08:09 Do you think it has potential in the future?
1:08:12 Nikita Uriupin: Yeah, I I do. Think so. They’re good friends. We’re working with them with my other project and I think they they have a lot of potential.
1:08:21 Not sure trading wise just yet, but that’s a good change.
1:08:25 Brian Rose: And for now, the liquidity. Will stay on Solana, you think for the next few years, few years, OK. Is a lot of time are. You bullish on Solana?
1:08:36 It’s getting a lot of hate. Heat and hate. Lately.
1:08:42 Nikita Uriupin: This surprised me in a positive way because they they’re working on tech, which is good and never stopping to expand. And I think this is amazing.
1:09:00 Brian Rose: After the FTX, everyone, yeah, everyone thought so. It’s going to zero. Yeah, it was. Going to 0. And they bounced back.
1:09:08 Nikita Uriupin: And I think there’s something to respect them for, for sure.
1:09:12 Brian Rose: Yeah, as long as it’s not going. Anywhere I was at that break point in Singapore, man, and I walked over from Token at the other conference and I was like, this feels different, man. When you’re at a Solana conference, man, it’s like, it’s like a club. It’s a cult.
1:09:28 It’s a community. You’re on cult Solana. And you know, with the craziest thing I, I, I noticed, I’ll tell you this thing, Nikita, that I think he was the founder of Radium came out on stage and he got a standing ovation. All right, at token 2049 when the founder of a Dex box on the stage, he doesn’t get a standing ovation, but it’s Solana. He does. And that just showed me, man, these are people that they love this, they’re part of it.
1:09:52 They want to be a part of it. It’s got a community like no other. And I don’t think it’s going anywhere, even though it’s had some bumps and it’s got some bad press. But like, again, back to great meme coins. They’re all about communities And the Solana maybe it’s the greatest meme coin ever because it’s got the greatest community and engaged peace and because it’s going to stay that way. So much money has been.
1:10:13 Generated for those people
1:10:15 Nikita Uriupin: and when it’s so easy to get the money because you learn something about the space and you you have those mental tools to win all the retail. It’s a 0 sum game anyway. There is no wealth being generated, someone taking money from someone, but a lot of money is going into the pockets of those people. So that’s that’s why they they have this cult following.
1:10:47 Brian Rose: OK, well, but. I mean, it’s a lot of.
1:10:50 Money. I think that people are making money, that’s why they. Have the cult following. I mean, it’s not just. Top people, if you follow top people in the short span of time you following then copy trading
1:11:06 Nikita Uriupin: yeah, we are providing capitating and you just buy whatever they’re buying and they they’re showing it and the price is rising. You cannot get it anywhere else.
1:11:18 Not encryption or traditional financial tools. So yeah, it makes you love those people and love the infrastructure that it was built on.
1:11:33 You see that calls tend to destroy themselves over time.
1:11:38 Brian Rose: Always. Well, Bitcoin’s a cult. It’s a good one though. It’s a good one though.
1:11:45 Nikita Uriupin: Yeah, they all think they’re good.
1:11:47 Brian Rose: I don’t think it’s going anywhere with your copy trading. Do you monitor the wallets of some of the big players and then I can go in and just do what they’re doing.
1:11:56 Nikita Uriupin: We are letting anyone. Pick the wallet that they want to follow, OK, And it’s automated buys ourselves, OK.
1:12:02 Brian Rose: Is that a good business for you? And is it?
1:12:05 Nikita Uriupin: We just introduced it. Five days ago. OK. All right.
1:12:08 Nikita Uriupin: Again based on the on the. Feedbacks and requests people wanted,
1:12:15 Brian Rose: OK. Are people engaging with it so far?
1:12:19 Nikita Uriupin: I really like this approach of copy trading from the profit generating perspective because
1:12:28 People wouldn’t think what they want to buy, They wouldn’t analyze. They just know that Brian buys good stuff. They would take your wallet, paste it in the bot and whatever you’re buying, they they would be buying the same and we would get 1% of each trade. So it’s a, it’s a good thing, it’s a good business.
1:12:48 Brian Rose: Yeah, it’s an interesting thing to do, man.
1:12:51 Only in crypto would that happen. What do you think Memento looks like next year, the year after that, the year after that? Is it for you all about product, product, product? What do people want? What are they using? 100% I.
1:13:04 Think if we would deviate from their approach, we would go to Azure very quickly and we’ve seen it before like as soon as you stop checking what what user wants, you’re not you’re not in the game and.
1:13:20 Brian Rose: For the Momento token, how much have you thought about the utility of that token? You must have really gone through this because if there’s not, you know, a reason to buy. If you’re not thinking about burning supply, I mean, you must have thought deeply on how to make sure this thing grows and appreciates.
1:13:45 What have you taken from some of your knowledge and how you’re building this?
1:13:51 Nikita Uriupin: Yeah. Since the first day we decided to to start the project and we started working on the economics. It was the number one priority to to build those utilities and syncs for the token. So everything, first of all, all of the fees, we’re taking 50% from the fees and we are burning those 50%. And also all of the payments there will be collecting from the white label partners.
1:14:21 It’s being swapped into the tokens and it’s a, it’s a pretty huge thing.
1:14:25 Brian Rose: That’s big because. You see with the unit swap, they get a lot of heat for this. They take their fees and it goes right to treasury and meanwhile the token’s there and you know, maybe it gets burned, maybe it doesn’t. So the token holders don’t partake in the profits of the company.
1:14:40 So you’re making a a distinct effort to make sure that that fees come in and go right into the token and then you’re burning 50% of the fees for the trading platform. That’s high.
1:14:56 Nikita Uriupin: It is high and. Obviously we don’t know how that would affect the token, but we think that it might work very well, OK, because it’s ongoing process for all of the projects in the space to find those tools that are working and we’re still pretty early in terms of the
1:15:20 Ways to build a sustainable business.
1:15:22 Brian Rose: OK, I like this. You’re trying to do if people are. Interested. What’s the best way for them to start a Memento account and then, you know, keep their eye on token generations and all that good stuff?
1:15:36 Nikita Uriupin: Follow us on Twitter.
1:15:37 Nikita Uriupin: Memento underline AI or go to our website memento dot but
1:15:41 Brian Rose: OK go from there OK, sign up keep an eye on what’s. Going on etcetera, it’ll be launched on Solana, probably a DEX and a centralized exchange as well. They can also go play with these tools, copy trading, sniping and information about these launches and just get a feel for what’s going on. And then you take feedback as well kind of inside the sites
1:16:05 Nikita Uriupin: and people kind of we we are. Contacting our big biggest users who are just consistent with the trading. We’re asking them about the feedback, what they want to see, and yeah, we’re collecting the feedback from the partners we’re working with as well.
1:16:22 The biggest one is Soulstone. It’s the biggest part we’re working with and we’re providing all of the infrastructure to them.
1:16:31 Brian Rose: OK, so they’re a bot. On Solana on Twitter. On Telegram, Sorry.
1:16:35 Nikita Uriupin: On Telegram, OK.
1:16:36 Brian Rose: And so that’s just giving you feedback,
1:16:40 Nikita Uriupin: yeah, as well and information, yeah, because momentum is. Based on it’s a web app, so it’s a desktop and Soulstone is what we built in a partnership with our other team to work on the Telegram.
1:16:56 Brian Rose: Excellent stuff. Nikita, I’m pumped.
1:16:59 I’ve never ever sat with a founder that talks so much about product market fit in Web 3. And it’s really refreshing and it’s what we need, you know? And look, I understand memes are always going to be around and they’re important and they bribe attention, and that’s great. But I also think utility projects are so important and they’re what will be in the long term. Every Web 2 project has utility that’s been a success. And it’s great to see a founder that’s obsessed with that. It’s great to see a founder who learned the hard way by paying the Kols and realized that wasn’t going to last and is now creating a great product.
1:17:32 And you guys have created something that people love and they keep using. And again, I always tell everybody that gets into this, this market in crypto, it’s a jungle out there. And if you think you’re going to make money in the space by doing it alone, like you’re kidding yourselves. Like the stats are ridiculous. Like 95% of all people who try to trade in this market lose their money. And so you have to have a platform like Memento. You’ve got to have people that can show you what’s actually going on or you’re just going to get taken to the cleaners. And I hate that because most people come into crypto, which I love because it’s financial freedom, it’s financial education.
1:18:07 It’s got so many great things going for it. And yet they get burned on their first meme coin trade. And then they they don’t want to come back for years. And they say, Oh yeah, it’s a bunch of scammers. I hate crypto. I lost all my money.
1:18:19 When in fact, if you came in and did it intelligently, you could learn and grow and realize there’s so many opportunities here and it. Applies to traditional tools as well, not just in finance. You go to Facebook ads, you just blow the whole budget if you don’t know what you’re doing.
1:18:39 Nikita Uriupin: Yeah, You have to educate yourself. Yeah. Amen to that.
1:18:43 Brian Rose: All right. Educate yourself. Check out Memento. We’re excited for the future, excited for the launch. And yeah, thanks for building a great project, Nikita, I really appreciate it.
1:18:50 Nikita Uriupin: Thank you.
1:18:53 Brian Rose: All right, let’s do it. Thank you. And I just want to. Say thank you to Web 3. TV, we will see you next time.
