Nick O’Neal, the entrepreneur behind the polarizing crypto persona ‘Choose Rich Nick,’ joins the show to pull back the curtain on his viral stunts and his ambition to build a media empire. He reveals the strategy behind manufacturing controversy and leveraging outrage to capture the internet’s most valuable resource: attention.
The Birth of a Crypto Troll
- “It gave people the ability to basically be like, ‘This guy sucks.’ And that was the entire foundation. That was the birthing of ‘Choose Rich’ basically."
- “He's not just a rich person, he's a crypto rich person. And there are a lot of people that don't like crypto and much of the source of disdain and frustration is when they miss out on unfathomable wealth."
The ‘Choose Rich Nick’ character was born accidentally from a viral photo on a yacht that drew widespread mockery. O'Neal leaned into the hate, creating a persona of a "rich douchebag with delusional confidence" who serves as the butt of the joke. The character is meticulously designed to trigger those who resent missing out on crypto’s gains, embodying a gaudy, flex-heavy culture that allows the audience to feel superior by "exposing" him.
The ‘Barstool Sports’ Playbook
- “The foundation was Barstool Sports for NFTs or crypto... you have to bring an edge when it comes to social media. And that brings awareness and attention and there's a funnel that exists from at the top."
O'Neal's company, Bodos, aims to be the "Barstool Sports for crypto." The strategy is simple: use inflammatory, borderline-cringe content to capture mass attention at the top of the funnel, then guide that audience toward more serious market commentary and sponsored content. This model is built on a network of personal brands, with Nick as the tip of the spear, creating a flywheel of awareness that benefits the entire ecosystem.
Manufacturing Virality
- “This whole thing was manufactured... I had an idea when we were on the yacht. I was like, ‘So, I need to get thrown off this yacht.’”
- “I worked with AVAX to draft an official legal statement distancing themselves from me... If all goes well the internet will take the bait.”
The infamous Avalanche yacht incident—where Nick allegedly exposed himself—was a completely fabricated stunt orchestrated with the Avalanche team to generate millions of impressions. By creating a vague "incident," Nick provided a blank canvas for the internet to paint its own narrative. Crypto influencer Kobe took the bait, amplifying a fake story that went massively viral, a moment O'Neal’s team celebrated as a huge success. Even other sponsors played along, publicly distancing themselves to fuel the drama.
Key Takeaways:
- Weaponize cringe for distribution. The ‘Choose Rich Nick’ model proves that being the butt of the joke is a powerful growth hack. Manufacturing moments that invite mockery creates a viral loop of outrage and engagement that funnels attention to the core business.
- Authenticity is a liability. The most successful stunts are meticulously planned fabrications. From fake girlfriends to staged yacht expulsions, the goal isn't to be real but to create a compelling narrative that the internet can’t ignore.
- Success hinges on ambiguity. The content is designed to polarize. Its virality depends on a split audience: one half gets the joke and celebrates the performance, while the other half takes it at face value, fueling the outrage machine that drives impressions.
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This episode deconstructs the calculated chaos of viral crypto marketing, revealing how manufactured controversy and character-driven narratives are used to capture attention and build a media empire.
The Accidental Birth of a Crypto Persona
- Nick O'Neal, CEO of Bodos, explains that his "Choose Rich Nick" character was born from a series of spontaneous yet strategic content pieces. The persona began to solidify after a selfie he posted on a yacht with the caption, "This is who you're trading against," went viral, attracting over 45 million views and widespread ridicule. This was followed by the pivotal "Choose Rich" video, filmed in a tacky Miami Airbnb, which intentionally leaned into the criticism and gave the audience a clear target to mock.
- The character emerged from a blend of real-life experiences, like a trip to the ritzy island of St. Barts, and a deliberate strategy to create content that invites public commentary and "dunking."
- Nick highlights how community notes on X (formerly Twitter) became part of the performance, such as when users "exposed" the real price of a champagne bottle he featured, even though their details were incorrect.
- This initial viral moment established a repeatable format: creating a dialogue with the audience by allowing them to feel like they are exposing him, all while he controls the narrative.
Deconstructing the "Choose Rich" Character
- Nick defines the "Choose Rich" persona as a "rich douchebag" with delusional levels of confidence. The character is specifically designed to be a comical representation of crypto-nouveau riche, tapping into the frustration many feel about missing out on the industry's wealth creation. This persona intentionally adopts gaudy, materialistic traits that Nick, who grew up in D.C. and lived in San Francisco, finds personally abrasive.
- The character embodies what a "15-year-old version" of himself would have considered cool: hot cars, expensive brands, and a focus on material wealth above all else.
- Nick draws a clear line, stating his goal is to avoid morally reprehensible behavior like objectifying women or taking financial advantage of his audience, distinguishing his act from figures like Andrew Tate.
- Quote: "He's not just a rich person, he's a crypto rich person basically. And there are a lot of people that don't like crypto and much of the source of disdain and frustration is when they miss out on unfathomable wealth."
The Business Strategy: Barstool Sports for Crypto
- Nick reveals the overarching business goal is to build the "Barstool Sports for crypto" under his company, Bodos. The strategy uses the inflammatory "Choose Rich Nick" persona as the top of the marketing funnel to attract massive attention. This attention is then channeled toward more substantive content, such as market analysis videos, where the audience discovers his deeper industry knowledge.
- The business, Bodos, is structured as a network of personal brands, including his partners Pio, Clemente, and others, who collaborate on promotional deals for crypto companies.
- Strategic Implication: This model demonstrates a modern media playbook where controversial, personality-driven content generates initial engagement, which is then monetized through brand partnerships and used to build an audience for more traditional media products. Investors should note this funnel strategy when evaluating the marketing tactics of new projects.
Manufacturing Drama: The "New Girlfriend" Saga
- The episode explores a recent viral stunt where Nick posted a photo with an actress, claiming she was his new girlfriend. The situation escalated when the actress, who Nick says was paid for the role and aware of the premise, publicly stated she was not his girlfriend because he failed to tag her in the post. Nick admits he capitalized on her unprofessionalism by intentionally fueling the drama.
- He reveals he sent her post to another influencer to "dunk on him," ensuring the story would gain traction and become a public spectacle.
- Nick acknowledges this stunt "pushed the limit" of his rule against objectifying women, highlighting the fine line creators walk when using personal relationships—real or fake—for engagement.
The Avalanche Yacht Incident: A Masterclass in Manufactured Outrage
- Nick provides a detailed, behind-the-scenes account of the infamous Avalanche (AVAX) yacht party incident, confirming it was entirely manufactured. He was hired by the AVAX team to create a viral moment and conceived a plan to get "thrown off" the yacht for an undefined, scandalous act.
- He coordinated with other creators on the yacht, including Crypto Kaelo and the Wall Street Bets personality, to film his departure and post vague, alarming tweets about his behavior.
- The narrative exploded when crypto personality Kobe took a random commenter's joke—that Nick had taped his painted junk to a wall in a parody of the famous Art Basel banana art piece—and amplified it to his large audience.
- Quote: "There was definitely internal consternation at AVAX because they're like, 'Guys, this is not the type of marketing that we want,' which is like literally a board member got involved... but then the CEO played along and like tweeted something which we didn't even ask him."
- Actionable Insight: This breakdown reveals how crypto narratives can be fabricated and amplified by influential accounts. Researchers and investors must maintain extreme skepticism toward online drama, as it is often a coordinated marketing play designed to generate impressions for a brand or token.
From Blogger to Crypto Persona: Nick's Origin Story
- Nick traces his career from early blogging and software engineering to his current role in crypto media. He first encountered Bitcoin pre-Mt. Gox—an early, major Bitcoin exchange that famously collapsed after a hack—but, like many, sold his holdings for moderate gains. He was initially skeptical of the 2017 ICO (Initial Coin Offering) boom, viewing many projects as scams, but was fascinated by the market dynamics.
- His conviction to go all-in on crypto was inspired by Michael Lazerow, founder of Buddy Media, who made a "categorical bet" on social media without knowing exactly what he would build.
- Nick applied this philosophy to crypto in 2021, deciding to stop questioning the space and commit fully, leading to the creation of his podcast and, eventually, the Bodos media company.
The Art of the Performance
- Laura Shin notes Nick's skill as a physical actor and his ability to adopt different accents and personas. Nick attributes this to childhood theater experience and a deep connection with his emotions, which he learned to channel and exaggerate for comedic effect. He explains that acting is fundamentally about accessing and amplifying feelings.
- He believes many successful actors are typecast, repeatedly playing versions of the same character, a strategy he employs with "Choose Rich Nick."
- The success of his content relies on a segment of the audience taking his performance at face value. He estimates that initially only 25% of viewers understood the joke, a number that has now grown to 50-60%.
- Strategic Insight: The performance's effectiveness hinges on ambiguity. The fact that a large portion of the audience cannot distinguish satire from reality is what fuels the outrage-driven engagement that makes the content go viral.
Responding to Criticism and The "Look"
- The conversation addresses a pointed tweet from Kobe, who claimed Nick's "entire bit only works because he looks a bit like a creature" and has a "curious looking" face that "unsettles you." Nick agrees his unique appearance is a key component of his brand, to the point where he feels he "can't get a nose job right now."
- He argues that his success infuriates logical, analytical people who cannot intuitively grasp the performance, forcing them to rationalize its success based on his physical appearance.
- Nick views this as a strength, stating, "If it weren't for people that frankly have a tinge of call it autism essentially, I don't think I would be as successful as I am because it actually tends to infuriate people who can't read certain degrees of my performance."
Conclusion
This episode reveals that modern crypto marketing is a performance art, where manufactured outrage and ambiguous personas generate unparalleled engagement. Investors and researchers must learn to distinguish authentic community sentiment from calculated marketing stunts to navigate the market effectively and avoid being manipulated by carefully crafted narratives.
