🧘♂️ALERT: Major Alpha Leak
Market Meditations | November 9, 2021
3 Projects Identified
The market remains high conviction and we draw closer to key sell walls at $70k and $5k.
Social Media x Crypto: Next Big Thing?
Spotting Successful NFT Projects
XDEFI Wallet Update: Building a Better MetaMask
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? Social Path
Blockchain meets Social Media. Apparently it’s got huge potential…says who?
Well, none other than FTX CEO Sam Bankman-Fried, who spoke this week at Breakpoint in Lisbon, the first Solana Foundation conference.
What needs to happen and are any companies already looking at it?
The key development is a private and secure messaging protocol, which doesn’t use cloud-based architecture, and is accessible by multiple user-interfaces across multiple platforms.
Sam claims Solana is well-placed to assist in this objective, given it’s high transaction speed (currently about 2300 per second).
He also said that mass DeFi adoption could be aided by a large, existing social media platform integrating these new products into their operations.
There are several companies already looking to reinvent social media on blockchain, including:
Twitter – building “a decentralized standard for social media” called BlueSky
Aave – building “a Twitter for the Ethereum chain”
Hive – a blockchain ecosystem supporting “multiple social media blogging platforms”
Reddit – experimenting with blockchain to eventually “replace karma with tokens”
Secretum – a Solana-based messaging app that also allows users to trade Peer to Peer (P2P).
Social media could be a whole new narrative for blockchain, much like gaming has been one of the big narratives this year.
Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool.
? SOLful Gaming
We all know how the story goes:
A trend emerges and is extremely lucrative to begin with;
Then, the market gets extremely saturated. Millions of new projects emerge;
Soon, we can no longer tell the forest from the trees: which project will pump, which project will fail and most important of all which project is a rug pull?
We previously shared a project due diligence report where we explored: essential steps to take in researching a project, key areas to look out for and common red flags and tips. If you missed it, you can find it here.
Today, we refine our research into NFT games. When it comes to NFT gaming projects, there are two essential criteria we should consider.
Features. There are a lot of trending and popular features in NFT games at the moment. Play to Earn is an important movement; projects will benefit from incorporating this feature. The metaverse is also a hot trend at the moment; new games that create or operate in the virtual world will benefit off of this momentum.
Community. A game will only be successful if there is a strong community of players. A strong story or especially cool production helps with this. To gauge whether a new project has a vibrant community, you can look to understand it’s following on various platforms. To take it a step further, you can then try to determine the % of the following that are active / engaged regularly.
Examples of NFT games that have gained popularity from incorporating trending features and building a vibrant community include:
Aurory. The universe of Aurory is populated with creatures called Nefties. Players roam the game world discovering new Nefties and use their Wallets to catch them. The first $AURY staking pool launched today. See here.
Star Atlas. Star Atlas is a virtual gaming metaverse based in the year 2620. You, a faction citizen of Star Atlas, have the ability to influence the outcome of this intergalactic conflict. Recently, Star Atlas released their trailer, available to view here.
Solchicks. Solchicks is a Play-to-Earn fantasy game on Solana. Players use their Solchicks as their characters in a unique gaming metaverse which includes raids and PvP. The $CHICKS IDO is coming soon, pre-registration is available here.
And there will hopefully be many more to come. We, at Market Meditations, will be keeping a watchful eye on the market. Providing updates and tips daily.
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☄️ XDEFI Wallet is Soaring
XDEFI Wallet is a Multi-Chain Chrome Extension Wallet designed to deliver the fastest possible experience for NFTs and DeFi. Notable qualities include:
1️⃣ Speed. The wallet is designed to give DeFi users a speed edge. Through the invention of Ape Mode, XDEFI Wallet gets you into the next block every time, without wasting gas fees.
2️⃣ Connectivity. The team’s long term vision is to create a suite of products bridging different blockchain ecosystems together in an effort to improve accessibility to the best DeFi and NFT opportunities.
3️⃣ Automation. As NFTs continue to become a larger part of the crypto landscape, XDEFI Wallet is the only multichain browser wallet to offer both automatic detection of NFTs and an Instagram-style, customizable NFT display.
The IDO will be open for 24 hours only, starting at 14:00 UTC on 15 November on MISO, Sushi’s IDO launchpad. More details here.
Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
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