Ze Chop

(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, kings. I’m sure everyone is exhausted from reading about how banks are gambling depositors’ money with certain tickers trading like shitcoins this past week. After making the mistake of interacting with my co-workers and normie friends on the subject, it’s become evident to me that stupidity does not lie solely within the world of web3.

I’ll refrain from diving deeper into the topic as it’s not relevant to this newsletter, but its effects have rippled through boomer equities along with crypto / NFTs. Broadly speaking, volatility has been insane over the past week and it feels like we’re all combating some level of dissociative personality disorder both internally and while scrolling through our timeline. Doomers were gloating last Friday and proceeded to get BTFO by Sunday night. Bags went from being underwater to doing multiples over the same period. The dejected wojack above has been my spirit animal lately - I’m tired and I’m tired of being tired. But, we press on all the same.

Instead of a market recap, let’s take a look back on OOPA last week.

OOPA Mint Debrief

Like most of you, I minted a bunch of OOPA tokens last week. Probably many more than I was comfortable with. I think in the end, I grabbed 16 + 4 beach tokens I bought on secondary leading up to mint.

Despite the fact that my degenerate gambling side was disappointed that OOPA didn’t mint out in 10 minutes, on a net basis I was pleased with the overall experience. The UI / UX on oopa.io was high quality and I was happy to see minting on something other than Joepegs go smoothly for once.

Taking a step back, OOPA was a victim of comically bad timing. SVB blew up maybe 2 hours beforehand and many people were running around storing their fiat in the nearest mattress. Simply put, when macro events occur that reverberate through crypto, it’s hard for many to chuck internet money at a speculative project.

That being said, I didn’t mint this to flip it instantly - I’m following the RockDog strategy of just accumulating good projects over a long period of time. It’s paid off for Chad Doges and I think the same strategy will pay off for OOPA here as well. Tokens below 4 AVAX seem like a no-brainer play to me, and it may be worth setting stink bids for the higher rarity tokens over the next 24 hours since Golden Tokens will be converting to OOPAs tomorrow.

I have a handful of Beach, Coral, Surf and Cabana tokens (no Yacht, rigged), so I’m looking forward to revealing tomorrow along with some potential price action. It will definitely be interesting. Don’t paperhand just yet.

Other Tings

A few weeks ago, I mentioned Plague Game as a project that could make waves over the next few months. Turns out that Joe Studios handed over ownership of the project to a third party that will be steering the ship going forward.

Unfortunately, I missed the AMA that took place in their discord yesterday so I’ll be doing more research on this - but it’s definitely something to keep an eye on.

Pivoting slightly, did anyone notice this account quietly crop up a few months ago?

The above thread gives a good overview for what’s come through the pipeline this week. They’ve also been hosting a lot of spaces with aspiring web3 artists. Might be a sign of things to come in the future, methinks.

As far as other project updates go, Chef Goose summed it up pretty succinctly:

I think I need another Smol Joe. Just sayin’.

All in all, another quiet week on AVAX, but I’m fully strapped in for the ride. There is a fine line between conviction and mental illness, and I’ll be treading that line with respect to the AVAX NFT ecosystem for the foreseeable future. Beeg things on de way.

Cheers,

Chuck