Avoiding my Relatives

(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

Gm / good evening to my red chain lords. For my fellow burgers, I hope you all enjoyed a nice Thanksgiving holiday and recovered from your certain food coma. I also hope you were spared the wrath of angry boomer relatives after you shilled them the pico schmico top of crypto last time around.

Was I the only one? Anyway…

Admittedly, I’ve been a little MIA this past week spending some offline time with family and friends, but you should expect me to come back in full force next week with some serious shitposting.

Market Update

As for the world of AVAX NFTs, we’ve got a decent amount to cover.

Source: @21shares

After what seemed like peak doomer status last week with the fallout of FTX, AVAX NFTs saw a relatively nice rebound in volume. It ain’t much but it’s honest work. As I mentioned last week, NFT enthusiasts have an average attention span of about 3 seconds.

I guess the SBF fluff pieces are really working.

JPEG Update

Some may disagree, but I always like to examine volume by number of sales as opposed to “volume”. Volume measured in amount of red coins can be misleading. Smol Joes would’ve made this screenshot if measured by 7D volume, except that someone accepted a stink bid 150 AVAX below floor and it was the only sale all week. Makes you think.

Plague Game and Chippers were the attention grabbers this week. I had mixed feelings about Plague Game not minting out. It was certainly a tall order to command 30,000 AVAX worth of liquidity coming off one of the top 5 all-time crypto blowouts, but I actually expected it to do even worse in lieu of that. 75% minted, in this economy???? That’s pretty good IMO.

Chippers was a 500 supply free mint that took off but slowed down pretty quickly afterwards. There’s still a decent amount that remains unminted, which I chalk up to the Thanksgiving holiday and people touching grass. I can’t imagine people not circling back and taking free money off the table. That said, I feel like making people a bit more aware whether they were whitelisted or not could’ve been more effective and goes a long way. I only checked to see if my wallet was on WL earlier this morning.

Chad Doge has been a stickler, holding steady around the 3-3.5 range. I give their team a ton of credit, they’ve done an exceptionally good job of maintaining community loyalty through various initiatives including Chad News Network and various collaborations. With Chad Doge Super on the horizon and people begging for the infamous Blacklist, it seems that something exciting is around the corner.

Good thread above explaining how it will work. Very similar to a MAYC with vials and deriving properties from your original Chad Doge, along with fractured vials being a total wild card. If you build it, they will come…

Market Musings

Despite the post-apocalyptic blockchain environment we all tread, it’s been pretty great to see so many builders continuing to put their heads down and work over the last few months. Projects that were seemingly dead have come back to life, while new entrants have stormed in and commanded attention and liquidity.

Not that I have any experience in real trading, but I think a good analogy would be to zoom out from the 30 second candlesticks which reflects “down only” and look at the bigger picture. While I think stats like volume, # of unique users, and [insert statistic here] are important, context is required and in many instances, certain intangibles that are fundamental to an ecosystem’s success just aren’t captured by them.

One of those intangibles is examining the quality of characters running a project, an ecosystem, and so forth. Some free alpha for you all: Since there’s like 50 people left trading AVAX NFTs, that brings you a couple of degrees closer to an influencer you follow or a founder who you strongly support. Establishing and cultivating a network with competent and capable folks is one of the easiest and +EV things you can be doing right now (as long as you’re not annoying and actually adding value). So drop a meme in the replies, stop lurking in discord, and start engaging with the people who you *feel* are too far away. Youl never know - that guy who’s on the wrong side of the following/follower ratio that you started chatting with on a random discord server may become one of the most successful builders come next supercycle.

Conclusion

As I currently recover from my Thanksgiving food coma, I’ll be checking in over the weekend and revving back up the V12 Twin Turbo Degen Engine going into next week. If you’re going to Art Basel, drop me a line. Otherwise, continue to larp on Twitter as usual. Enjoy the weekend gents.

Cheers,

Chuck