NFTs and crypto stop being weird the moment the person realizes that this is the first time small investors have access to things that historically were restricted to the rich (or "qualified investors" lol). Once you realize this is just democratized angel investing, all this wealth creation looks normal
I sold 25% of my ADA today for ETH. Its trading at 20-25% of the market cap of ETH. Seems a little rich for something that doesnt even have developers doing anything on it yet. Retail is chasing this one hard. I might have to trim some more if the rally on it continues
Reese Witherspoon is worth $400M and her buying Ethereum and coming to the crypto space is a good message, real adoption not just in it for the fiat $ value (profits)
Looks like ADA will release its Alonzo smart contract upgrade on September 12. I plan to keep selling into that date. Sell the news should hit it pretty hard, at least, relative to ETH. But I might cash it out to fiat anyway. I might keep 10-20% just so I dont lose track of it but I plan to sell most. That would balance out a bit the extra risk I"m taking on NFTs, plus I bought more ETH to be able to buy more NFTs. So the ADA cashout will help to balance that risk out
Binance is so deceptive. This is what they claim, the SOL network is "Congested" Solscan tells me this What kind of congested network process transactions instantly at almost no cost? lol, I swear, Binance pulls out almost every trick in the book to try to screw others. Every week that passes, I have less and less funds at Binance
There are a lot of scam/money grab NFT projects right now but one of the things that make me think that the dynamic is still sustainable is that the money grabers are (for the most part) also addicted to investing and collecting NFTs. So they are raising ETH so they can buy more projects. That was not the case in alt coins where the scammers would just take the money and run. In NFTs, the funds are recycled back into the NFT economy. So many people are saying "damn, I need more ETH" and I see so many sketchy influencers doing their own NFT project, most likely because they need ETH to buy more stuff that they like. Recycling the funds. You can just feel everyone's addiction in the air
Lots of research are necessary to understand what this all means, but I think AGLD is a big buy. Alameda also bought it, so thats a sign there is something there
AGLD seems like the first decentralized SLP (Axies game token), a decentralized gaming currency that was fairly distributed and anyone can get a piece of. Its like the Bitcoin of gaming and gaming is a massive industry
Yeah, when first thinking about NFT's, applications to games was one of the first things I thought of. I am not living and breathing this stuff so I really only learn about things when others mention or they start rising to the top of the short-term trading volume rankings. If I heard about the loot earlier I would have bought some; but I'm priced out at this point and usually buying into the spike after something goes viral is not the best entry. The gold is a lot newer though, and granular enough to allocate a smaller amount. I was actually in the middle of reading about it this morning after seeing the loot NFT project on opensea and not recognizing it. In at .00149 ETH basis. The book was pretty thin when I was placing my order, only crossed on a few hundred resting AGLD but I got filled instantly when it went live. So there must be some bots trading this stuff already. Pretty crazy. This will be a fun one to watch. Maybe 1-2 more promising projects that haven't already shot to the moon and I will feel like my risk allocation here is complete for the time being.
As I see it, the more people own it, the bigger the user base, the more incentive there will be for a gaming company to say 'you can use your AGLD in our game'. Not to mention games created from the community itself As far as Loot goes, its interesting but it feels more like a historical NFT at this point. Its quite limited by the 8K hard cap, AGLD can be owned by millions. They are getting lots of airdrops so there is that value as well but in the long-run, it feels more like a historical item. Too little users and they are too rich, it doesnt feel fair to participate in a game where they will have an advantage over everyone else. So they can play amongs them, but they are too rich to even give a damn about that. I think AGLD is where the value will accrue, plus some of the Loot derivatives that manage to create a really strong community