You Must Be New Here

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.

Good morning, my fellow lieges. Enjoying the week?

I spent the last 3 days recovering from what was my most violent hangover in well over a year. Went to Philly for the weekend to watch some lacrosse and left with both visible and invisible scars from my teams losing and double gin and tonics. At least the Celtics lost in a brutally embarrassing fashion on Monday. Always remember: when Boston sports teams lose, the rest of the country wins. It’s that simple.

Anyway, I’ve had to play catch-up since my brain only returned to being functional sometime yesterday.

This was my initial reaction to getting back on AVAX NFT Twitter.

The first thing I stumbled across was Goose leaving OOPA.

I won’t rehash the thread, but TLDR he goes through his OOPA timeline and the accomplishments he and the team achieved to date (of which there are many - kudos to the team!).

I’ll be honest - I bought into OOPA largely because of Giraffe and Goose’s involvement, neither of whom are still on the team. I like them both a lot and even had Goose feature a solid write-up on OOPA ahead of their mint back earlier in the year. Now that he’s gone, I personally feel like I have significantly less attachment to the project. As I said months ago right before mint day, a core component of why I bought in was due to the team and specifically their involvement.

Many people bought OOPA for other reasons and his departure may mean less to some, but that was one of the primary poles in my thesis. That’s what we call “key man risk” at the big boy table.

With all of those things in mind, there’s this incredibly weird corner of AVAX NFT twitter that is equating this departure to Goose being a grifter.

Can we put aside this concept that if you work on a web3 project, that is the equivalent to signing a Faustian bargain with Lucifer himself who contractually obligates you to work on it in perpetuity? Let me unapologetically riff for a second.

People make career changes all the time. It’s entirely within their right to do that. At the end of the day, people act in their own best interest - NOT yours. In NFTs, nobody is obligated to keep your bags pumped.

This doesn’t just go for NFTs by the way. Key man risk exists for many businesses. Elon Musk and Tesla is a great example - if Elon leaves or is killed by a cosmically improbable event, it’s literally over.

Let’s keep some nuance as a part of the discussion. It’s a different story when the company or NFT project brazenly misdirects you to believe one thing and does something else entirely. That’s not what happened here - plain and simple.

Rant over. Onto something I’m more excited to talk about.

The Expansion - Update

Over the weekend, the last step in The Expansion opened up, letting generative Creeps burn and mint their new Joes.

Floor price is sitting at a nice 22 AVAX as of this morning.

I’ve said before how I think this a pretty ambitious endeavor - burning your top tier collection and integrating it into a lesser one for the sake of brand continuity. It remains to be seen whether my Joes will continue their upward trajectory, but for now I’m not one to complain. It’s been going pretty well so far.

Dokyo - WEN?

Not much is known about Dokyo (or maybe I’m simply being lazy in my research), but Brando seems to be bringing the heat on this one and it just might be the refresher that AVAX NFTs sorely needed.

He has a pretty large NFT following and happens to like what AVAX is doing, so I’m hopeful that we can get some momentum once Dokyo drops. Stay tuned as we learn more over the course of the next few weeks.

Conclusion

Once again, another week of cycling between “it’s over” and “we’re so back”. It never gets old waffling back and forth between conviction and mental illness!

Summer is here, let’s hope NFTs soon follow.

Cheers,
Chuck