In Episode 317 of The Block Runner Podcast, hosts William and I-man unpack why this Bitcoin cycle felt like a failed rocket launch, how unrealistic expectations soured market sentiment, and what Bitcoin's diminishing returns mean for miners and the long-term security budget.

They then dive into the real world asset wave sweeping crypto: graded sports cards and Pokemon moving on-chain, Meteora and OpenSea entering the RWA arena, and what past collectible bubbles, from tulips to trading cards, teach us about speculative media.

Finally, they share NAT.fun updates: the second rocket launch, a move toward systemic periodic launches, fame-score based caps, and ten thousand dollars up for grabs for creators.

Disclosure: The hosts are founders of NAT.fun and hold positions in assets discussed. Nothing in this episode is financial advice.

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In Episode 316 of The Block Runner Podcast, hosts William and I-man give an honest post-mortem on the first NAT.fun launch, break down why gold and AI equities are outrunning Bitcoin in this bear-market stretch, and walk through the plan for a second launch with healthier token distribution.

Disclosure: William and I-man are founders of NAT.fun and hold NAT tokens. All analysis in this episode reflects their perspective as participants in the ecosystem.

Key topics:

1. Bear-market sentiment, round three: gold outrunning Bitcoin, Mark Cuban turning bearish, and David Hoffman exiting ETH, plus why the feeling of a market top keeps getting worse even as prices stay historically high
2. The AI and equities bubble: Anthropic's revenue versus its trillion-dollar valuation, Jensen Huang's argument for growing GDP with AI and robots, and Mag 7 stocks versus Bitcoin in a market where attention, not fundamentals, sets the price
3. Attention markets everywhere: gambling apps, Pokemon cards, and conspiracy and alien mania as symptoms of where speculative dopamine has migrated away from crypto
4. The NAT.fun launch post-mortem: the first token's broken distribution (ten holders, one wallet holding around 80 percent, graduation in roughly ten minutes), why that makes a credible Vibathon impossible, and the second rocket plan with a higher graduation threshold for better NFT distribution
5. Product direction: a tour of the Vibe Studio and the tarot-card creator example, integrating vibe creation into the launch flow, the Breaking Bad themed launch video breakdown, and an open letter to Foundry on Bitcoin's declining security budget and NAT

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In Episode 315 of The Block Runner Podcast, hosts William, I-man, and TJ record on the eve of the NAT.fun launch, break down the top 25 revenue-generating protocols in Web3, and make bold predictions for how DMT and NAT.fun will perform once the button is finally pushed.

Disclosure: William and I-man are founders of NAT.fun and hold NAT tokens. All analysis in this episode reflects their perspective as participants in the ecosystem.

Key topics:

1. NAT.fun launch: the pre-launch nerves, the complexity of building a platform this ambitious, and what it feels like to finally push the button after a year of development
2. AI-accelerated development: how AI tools enabled a more polished product than would have been possible otherwise, and the security audit gauntlet that caused the final delays
3. Top 25 Web3 protocols by monthly revenue: Tether and Circle dominating at $476M and $191M, Hyperliquid flipping Solana in FDV, and what real product-market fit looks like in crypto
4. Pump.fun's breakthrough: solving the liquidity bootstrapping problem, consumer crypto's uncomfortable truth about speculation, and the macro forces driving casino behavior
5. DMT and NAT predictions: what happens if the thesis proves correct, how the market will respond, and the team's expectations for the platform

Please like and subscribe on your favorite podcasting app!

Sign up for a free newsletter: www.theblockrunner.com

Follow us on:

Youtube: https://bit.ly/TBlkRnnrYouTube

Twitter: bit.ly/TBR-Twitter

Telegram: bit.ly/TBR-Telegram

Discord: bit.ly/TBR-Discord

$NAT Telegram: https://t.me/dmt_nat