Let The Pump Into Your Life

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 bulls. I’m back after a 2-week hiatus that involved swimming in the tears of bears and staring at my screen for 20 hours per day. I guess I forgot how hard it is to write when there’s action going on 24/7 but I will do my best to get these out once a week as all things crypto, web3, blockchain, fake internet money, etc seem to be heading in the right direction. The last few weeks have been nothing short of spectacular, and that whole “show up every day and stay interested” bit that you participated in for over a year of a brutal bear market conditions, is finally seeming to pay off. In a couple of weeks, for the Americans in the room, we’ll all get a pulse check on the outside world to see if our family asks us about crypto/NFTs at thanksgiving dinner.

While fungible tokens had their pump in October, NFTs have been absolutely ripping the last week or so. Admittedly, I’ve been a bit caught off guard by this but I am certainly not complaining. I have let the pump into my life.

Maybe this will mark the absolute pico top. Maybe we’re in the early innings. but overall things are looking up. Discords are active, old faces returning, and normies and normoids have been texting me over the last week asking which cryptographic coin they should purchase. Dare I say we are so back?

Last week, the Simpsons treehouse of horror predicted that NFTs would be worth millions, and they’re known to predict everything right. On another note, degen mint Springfield Punks ripped from 0 to ~0.3 right after the show aired. While we are far from the mania phase, risk appetite is back on the table.

Now that memecoins have cooled off after absolutely ripping the last 2 weeks, the attention has gone to non-memecoin alts (every coin is a memecoin though?) and NFTs. Azuki’s is melting faces with a 2x off the bottom, while old “dead” projects like Doodles, Moonbirds, and Toadz are even catching a bid. A good thread below from Pimp Capital, who everyone clowned for months for his large NFT sweeps. This thread was around the NFT bottom, and looking back doesn’t seem all that crazy.

It does seem that NFTs are getting some attention for the first time in a while. Keep in mind $blur has been on a tear as well and season 2 ends November 20th, which definitely is helping our cause. Also, with how successful $MEME was, a ton of NFT money is flowing back in and people are looking for beta plays (hint hint. Overlord).

I’m getting a lot of dms asking me to touch on Creepz again. Creepz by Overlord have been catching a real bid lately. I have been screaming into the void all summer that I thought these guys were undervalued and was slowly accumulating in the sub 1ETH range. With $MEME over, $Portal is gaining some steam. One of my qualms with Creepz was that they take so long to deliver on everything, but over the last few months everything seems to make more sense to me. Last week:

“This does seem like prime time for new collections that have been building decent hype to finally launch before 2023 (still eyeing SOMO). Many collections that pumped hard in the 2021/2022 NFT run were launched quite early such as Cool Cats/CyberKongz. I expect this will be the same, with a bit of a gamefi ponzinomic twist as Sol PFPs will no longer cut it.”

We are getting quite close to what I’d consider to be prime conditions to launch a new mint, especially one that has built hype for a while. Mix in a gamified/ponzinomic twist, and whichever genesis project is connected to that will most likely pump in anticipation, which is what we’re seeing now. I also did a decent write up on 10/3 on Creepz, Portal, and SOMO’s connection. Here’s a quick recap (Creepz were ~.75e at the time):

I’ve been pretty disappointed in the floor price reaction so far and am not sure if the market either is not familiar with the connection or simply doesn’t care. I think SOMO looks as legit as they come and it does give me some hope for the future. That being said, outside of the same old whales propping up the creepz floor, I’d prefer to see new entrants join. Maybe this is what SOMO will do, maybe I’ll be disappointed again, but i’m cautiously optimistic here. Despite being critical, I still believe Overlord is the most slept on project in the space and will be much stronger in Q1 2024. Let’s not forget that there’s going to be a memeland-type coin launch here soon with $portal - this does look like something from the Creepz trailer months ago.

Since then we’ve 2x’d and Creepz is the talk of the town again and I don’t know if there’s any project I’m more excited about over the next 3 months. (As I write this, I pause, and pray that this sentence did not mark the pico top.)

As always, unless you’re stacking BTC/ETH, the name of the game is following the narrative and catching rotations. We saw this with friend.tech, memecoins, cosmos L1s, Solana, and with NFTs there’s “what is the next $meme”. Projects promising tokens like the grapes, have also pumped hard in the last week.

It’s been a long time coming, but I’m happy to be back in my element where I thrive. My smooth brain is ready to start trading pictures on the blockchain again.

With that, I’m going back to my desk to stare at this same screen for the next 16 hours. I leave you with a quote from gigabull Airmass. The ETFs are coming.

Cheers,
Wilson