Sushi seems to be planning another vampire attack, this time on OpenSea https://www.shoyunft.com/ Opensea token airdrop soon? Big if true OS being backed a16z, means they are backed by folks that dont want to share pretty much anything with retail, other than a massive dump into them of course. But they might be forced to
"Given all this, I’m excited to announce that a16z is leading OpenSea’s $23 million Series A round alongside existing investors, our Cultural Leadership Fund, and angels like Ron Conway, Mark Cuban, Tim Ferriss, Belinda Johnson, Naval Ravikant, Ben Silbermann, and many others." https://a16z.com/2021/03/18/investing-in-opensea/ If you notice the big tech startups always have the same cast of assholes in the funding rounds, you see the same names over and over again. Its a "bro club" and everybody else is not invited. Ashton Kutcher, Tim Ferris, Cuban, a16z, Sequoia, Thiel, Chamath, etc, etc. Always the same bros. Now these assholes come into crypto and think this same bullshit will continue. They tried this crap on Uniswap and got schooled by Sushi, I bet the same thing will happen on OpenSea. So, all the users on OS right now should get a nice paycheck in the form of a governance+profit token (ala Uni) at sometime soon. In some cases, the total value earned might be more than what the person spent on NFTs, particularly for small investors
Just found a really interesting NFT project called AWorld I think there an excess of profile picture projects, lots with very little work, cash grabs and stuff. many times i thought 'wouldn't it be amazing if someone did 10,000 characters one by one? it would stand out like crazy'. I think I found a project like that, and the art is sick, its animals too which have high virality, about 1000 different ones. its still under development, so its not finished just yet,i think the guy created 50 and he will get other artists to help him complete but what he did so far is better than 99.5% of what is out there Their discord is https://discord.gg/nwWwsKt5 on the #sneak-peeks there are samples of the work. this is better than just about anything im seeing, still, the people behind need to keep the quality up, but if they do, it will be amazing
https://www.theverge.com/2021/9/23/22689806/twitter-bitcoin-lightning-tipping-nft-authentication This twitter news is big for profile picture NFTs. I'm converting some of my ETH into fractional punks on NFTX, they are the crown jewel of PFPs. Only 10,000 exist and people will use them as status symbol's on twitter, even more now that they can verify it (so you cant just download the jpeg and do the same thing, like idiotic critics say)
Staying power/diamond hands is found in crypto when the person realizes that BTC/ETH and other crypto assets are just new and clever versions of Bittorrent. Governments dont need to do anyone a favor by 'allowing crypto', they dont have the power to stop. Just look at the colossal failure of the drug war. Crypto doesnt need shit from governments, they can create volatility sure, but they cant stop it. The more they try to kill it, the more resilient it becomes, the more anonymous it becomes, the more unstoppable it becomes
I was reading about Axie Infinity a few days back, after I saw their governance coin somewhere. It's a pokemon knock-off where you breed and battles axies. You need to buy axies to start playing and after the recent player inflows a beginner team costs around 0.3 ETH. Daily play nets the game token, SLP, which at this point is inflationary and only really used to breed axies and a few other minor in-game uses. Axies have a breeding cap to try to keep supply down, but of course you need net inflows of players to keep prices up. It seems like patches and changes cycle which axies are the best for competitive play so that should cause some natural circulation inside the axie economy. The daily energy takes about 1-2h to burn and priced in USD it has fallen to about $15 worth a day or somewhere thereabouts. This used to be much higher and I think that is what attracted the recent wave of players. It makes sense that the $ cost of basic gaming/labor has fallen to this level and will probably go down a bit further. More interesting is a recent mechanism for the owner of axie teams to adopt a scholar and enter into an agreement for the scholar to use their axies for daily play, for an agreed SLP split. At a 50% split now we are talking about 100%+ ROI on an axie team as the owner with a dedicated scholar, at the cost of the volatility/risk of the value of the axie team. So it seems that the capital holders have a pretty good deal over the laborers in this micro-cosm. The figures are too small for me to bother with I think, and after making a handful of small allocations to alt-coins and a few novelty projects like Curio Cards and AGLD, getting more exposure to these little projects for convexity bets is a little less attractive. Even if it's probably a good idea to keep scattering seeds the management of the allocations becomes tedious. Most interesting though was just having a look into the mini game economy and dreaming about possible futures. If this is ever done right, I can see a massively popular game eventually having more overlap with reality than ever before. Already people could gold farm for slave wages in past MMO's, but there might be enough innovation or serious demand inside of a game economy to make specialization/serious investment of personal capital into the space over traditional employment. It also breaks the geography barrier even more than remote work does. 3rd world kids being able to make $10 USD worth per day in a game is probably as crazy to them as it is meaningless to a white collar worker in the US. How exactly to get exposure to this progression is the hard question to answer. There will probably be a lot of false starts and the end result will end up being something we didn't expect looking forward. But being exposed to crypto space it making me try to understand how to capture convexity when I have typically been a yield seeker mining a small edge in trading and buying assets with carry in order to compound capital. Having a decent block of capital (or AUM) invites a little laziness when <10% returns generates more utility in $$ than you personally need. So convexity probably appeals most to the guys that are still trying to bootstrap personal wealth creation or the perpetually hungry. It's interesting to try to model how these guys will think and how to map out possible futures. Don't really have any golden takeaways yet but it has been somewhat invigorating to get involved in crypto and start adding an almost new mindset to my toolbox. Just wanted to share some free form thought to the journal. Appreciate reading your posts and the time you've taken to create and maintain this thread.
Axies, I have tried to understand it but I just cant. Some smart people are involved in that, so it cant be a complete ponzi but I dont get it, it feels like a reflexivity driven momentum trade. I have played a lot of CS GO in my lifetime, some top skins there are worth hundreds of thousands like Axies. The difference is that Valve doesnt force anyone to buy skins to play the game, you get stock skins and you can play. People are naturally driven to buy skins to make their streams more awesome, to display status, to feel cooler, etc, etc. And there is a lot of economic activity and sponsorships around CS tournaments, lots of fans willing to part with cash to watch people play live, etc, etc. So I completely get why the skins can get so expensive. I cant for the life of me understand why some axies are so expensive. Play to earn where people are forced to pay a big entry fee to start to play, it sounds something closer to Bitconnect. There are no tournaments on Axies, as far as I can tell. There is not big following of people watching Axies streams on twitch. As far as I know, its a simply boring game that people only play because they can make money. But they can make money because new entrants have to pay up to start to play. But people smarter than me swear by it, so I will just avoid it. I wouldn't put a penny into play to earn until I can understand why it would have economic value without being an awesome game first
Why are you taking offense? Unless of course you happen to be exactly what I say you are. It's ok it's 2021 we don't hunt your kind down anymore. LOL. Since this isn't your forum, I will continue to do as I please and I will be interacting with your posts and calling your garbage assumptions and theses out. Enjoy reading more of my posts!
Highlights of my NFT career so far: I picked up a rare cryptoadz called toadenza as it is a joke on Fidenzas. The creator of the project sent a special toadenza to Tyler Hobbs, the creator of Fidenzas, he loved and shared it all over social media. Now there are only 3 toadenzas listed (out of 44) and the cheapest one costs over 20 ETH (I paid a little over 3 ETH for mine) When Hobbs art gets displayed on Museums and he becomes the DaVinci of generative art, which I think its pretty likely, these toadenzas will cost more than houses, I think I also picked up a rare type of World of Women, the ones dressed in tuxedos, as it became clear to me that its the best character to capture the idea of women empowerment. Also, tons of female celebrities have dressed in tuxedos in prestigious events over the years. I think this project is pretty likely to go viral in hollywood and other circles and these tuxedos WoWs should become pretty darn expensive I also bought a Creature World a while back and Shaquile O'neal bought 2 yesterday and tweeted about it While ET is busy debating whether Bitcoin is a bubble, I'm busy seizing the future cultural icons and investing in the highest returning asset class on earth (NFT). While you guys debate who is gay and who isn't, I'm wondering which status symbols will the gay community go crazy for and buy them now. The world belongs to doers not talkers, so I plan to post less and spend my time doing more productive things. But if anyone reading wants to make real money, take capital you can afford to lose, spend 2 weeks learning everything about NFTs and then invest, then ygmi