In This Issue
- I share my thoughts on the state of the market, The Ethereum merge date is delayed, Terra buying AVAX, Ethereum layer 2s, Solana NFTs on Opensea & Cardano rising
- Sam has a report for you on Aavegotchi and the Gotchiverse
Premium members also get the following:
- My latest portfolio updates
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Upcoming NFT drops
- Defi Dad has a tutorial for you on how to earn up to 28% APR on WETH and 25% APR on DAI on Polkadot
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca breaks down this week’s trending coins.
- Jesse has a deep dive for you on Efinity
And much more!
What’s On My Mind by Lark
The State of the Market
Correlation persists and equities are not looking very hot right now. So many factors are weighing very heavily on the markets right now. Inflation is soaring, recession fears abound, commodity prices are pumping, the FED is rumored to start selling Mortgage Backed Securities, and the war in Ukraine continues. When people are afraid and feeling uncertain it means that they are less likely to make risky purchases like altcoins, ape pictures, and well even Bitcoin. And yes, we can count stocks here too. People will be saving more, and spending less… well, actually spending more because of inflation, but spending less on discretionary items because food, rent, and fuel all cost more. How does this affect crypto investors? Well, obviously things could get rough around here for a while. Crypto is slavishly following key stock indexes, and those are not looking awesome. Can crypto have a major breakout moment, of course. Will it? We can hope. Bitmex founder Arthur Hayes wrote an interesting piece on this topic you may like to read HERE.
Core Ethereum developer Tim Beiko confirmed on Twitter today that The Merge to proof of stake will be happening “a few months” later than the initial June estimate. Another delay for Ethereum… shocking, lol. It will get there one day!
Terra Starts Buying AVAX
Late last week Terra’s Luna Foundation Guard Fund announced a purchase of 100 million dollars worth of Avalanche’s AVAX token. This is a pretty important development in my opinion as it shows them investing beyond just Bitcoin and also that they have a big interest in AVAX. I remain bullish on the Avalanche ecosystem.
Ethereum Layer 2
Earlier this month Ethereum layer twos hit a new all time high in terms of total value locked, showing that the L2 environment is still thriving in spite of the rough markets.
While alternate layer ones like Polygon, Solana, Avalanche, and others offer cheap, and often cheaper fees, I am delighted to see Ethereum layer twos gaining traction. While much of the layer two money is tied up in existing protocols like Uniswap and Curve Finance, which are almost unusable on the main chain, we are seeing more and more native layer two apps pop up too! My guess is that we continue to see layer two adoption soar and that there will be a lot of opportunity here for investors to get involved in native L2 protocols or just enjoy farms from more household names like Curve.
It has finally happened, Opensea has integrated with Solana! This is a huge boost for Solana based NFTs since Opensea is BY FAR the biggest NFT marketplace right now… at least until Coinbase launches its NFT marketplace. Does that mean the end of Solana marketplaces like Solanart and Magic Eden? No, but it will put pressure on them, and much like Opensea competitors on Ethereum, they will probably only ever be in a distant second. Although I must say that Opensea leaves A LOT to be desired in terms of customer service and giving a shit about their users, which others like Magic Eden have done well to cater to. Also it does remain to be seen if Ethereum NFT whales will actually start buying Solana NFTs. Plus a lot of the best stuff still launches on Ethereum, the brand is hard to beat! Maybe the Opensea integeation will change things though? Watch this space!
IOHK, the studio behind Cardano, recently released this sweet info graphic showing the breakdown by sector of the nearly 900 projects building on Cardano!
With smart contracts implemented on the main chain some months ago it has meant that developers can really start battle testing applications on the network. And it seems that the money is starting to show up too with the recent announcement by Waves Financial of a 100 million dollar Cardano defi fund!
🔥 IN CASE YOU MISSED IT 🔥Check out this awesome video I made on how to make big gains in the altcoin market 👉 https://youtu.be/atoKB48QlZc
Aavegotchi & the Gotchiverse by Sam
A huge name in the play-to-earn gaming space is Aavegotchi, which incorporates tokens, DeFi and NFTs, all wrapped up in a retro, ghostly aesthetic reminiscent of Pacman and the 8-bit console era.
At the end of March, the Gotchiverse Alpha period, incorporating a playdrop, went live. Gotchiverse is Aavegotchi’s Polygon-based, play-to-earn game world, and the playdrop runs until the end of April (more on what playdrop means in the article linked below).
Something to be aware of before you look into Aavegotchi is that it initially comes across as extremely complicated, with a confusing array of gameplay and earning mechanics. Then, after you read through whitepapers, litepapers, and blogs, it becomes about a hundred times more confusing.
Getting hands-on by diving in and trying it out is the best way to learn how it works, so here’s a quick rundown on getting started.
Acquire some GHST tokens
In order to play, you’re going to need currency, and in the Gotchiverse that means the GHST token, currently valued at around $2, having hit an all-time high of $3.25 last November.
On the Gotchiverse site, connect up your wallet (there are a variety of choices, but MetaMask works fine), click on GET GHST, and there’s an easy-to-use converter, which allows you to acquire GHST by swapping from DAI, USDC, USDT, Wrapped ETH, and Wrapped Matic.
Playing the game
In the Gotchiverse, you take your Aavegotchi NFT (which is a kind of ghost), and navigate around attempting to acquire Gotchus Alchemica, which is the collective name for four kinds of ERC-20 tokens called FUD, FOMO, ALPHA and KEK.
Jesse Johnson, the COO of Pixelcraft Studios (the company behind Aavegotchi), has explained of the tokens that they’re, “the keys to ‘making it’ in the Gotchiverse and getting the most out of this one-of-a-kind gameplay experience.”
There is more to the game than just this, including a metaversal, social element. It’s notable also that several guilds have set themselves up in the game, including Yield Guild Games. (A guild is a kind of organized gaming cooperative that pools its resources and know-how in order to maximize profits).
What is playdrop?
When projects launch a token, they often take the airdrop route, as famously happened with ApeCoin last month, which was dropped to Bored Ape holders. However, Aavegotchi has gone down a different route, utilizing the concept of the playdrop.
Basically, the Gotchiverse Alpha period is a chance to acquire Gotchus Alchemica, the tokens mentioned above, but you’ll have to actually play the game in order to pick them up. It’s a strong incentive to play, and looks like a win-win that benefits both players and creators.
Lend and Borrow
If you don’t already own an Aavegotchi NFT and you’re not sure you want to commit funds to buying one, then you can still try the game and get in on the playdrop by using the lending function to borrow an Aavegotchi.
The main variables to consider when borrowing (or lending) an Aavegotchi, are the rental duration period, whether there’s an upfront charge, and the profit split. All of these factors can be back-and-forth negotiated before finalization.
And on the other hand, if you own Aavegotchis and want to make some passive income, then you can use this function to loan out your NFTs. This can also be a useful option when you don’t have time to play the game yourself, but hold an Aavegotchi.
Trade Aavegotchis and other assets
Go to the Aavegotchi Baazaar, and you can buy and trade Aavegotchi NFTs, along with other in-game assets, including land, wearables and consumables.
This is an evolving in-game economy, and it’s necessary to get a feel for the game and its mechanics in order to make informed trades. The best route is to borrow an Aavegotchi first, and get a sense of the game and whether or not you want to invest in the ecosystem.
Virtual land in particular is on a lot of investors’ minds recently, and there are many metaverse projects to choose from. What the Gotchiverse offers is a well-known, gameplay-oriented platform, which has active users and financial incentives to bring in new players.
For a summary of what factors to assess when valuing Gotchiverse land, the official Aavegotchi blog has summed it up concisely.
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
If you are reading this it means you are on the free version of the Wealth Mastery Investor Report, which is great for news and tips on the crypto markets.
If you really want to take advantage of fastest growing asset class EVER, I highly recommend you join us in the Premium Investor Report.
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See you next time!
Lark and the Wealth Mastery Team
TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.