Gaming Season, On-Chain Analytics, Ordinal NFTs & Trending Coins
In This Issue
- For this weeks portfolio tip, I’ll be talking about gaming season
- Web3 Academy has an article about on-chain analytics and how it will affect business reporting forever.
- Sam has a report for you on what’s happening with Ordinal NFTs.
- Rebecca breaks down this week’s trending coins.
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Lark’s Portfolio Tips
Gaming Season?
Gaming season was HUGE when it happened last time. It is not here now, far from it. BUT, I think when it does we will see many projects pump like crazy.
Here are some reasons that gaming season could be closer than many people think:
- Square Enix, the creators of Final Fantasy, are launching a game on Polygon.
- ImmutableX is launching a gaming passport for web3.
- Amazon is launching an NFT marketplace… for gaming.
- Tencent is teaming up with MultiverseX for web3 services.
- Serious names and money are getting behind new game launches, such as Neill Blomkamp who is helping create Off The Grid. By the way, they just launched a new trailer.
The next season, like last season, will be filled with total garbage coins, but we are also seeing some incredibly polished offerings coming out.
AAA crypto games are not far away.
Although right now, we see overall gamefi users down by 36% from the all-time high, so that shows us a continued bearish trend for gaming.
But, that makes it more likely to be a time to pay attention.
If you are going to be speculating on a future gaming trend then look for games that have the following:
- Big backers! I know that VC money is a double-edged sword, but they do like to pump their bags when the time comes.
- Continued development. A lot of games and metaverse coins have already thrown in the towel during the bear market. Others like Illuvium have just released their beta. ILV by the way is the third most active game on ETH right now. You want teams that are dedicated to success.
- Active socials with a community excited about the game and not just looking to dump the tokens.
- A good game product! Maybe this should have been point number 1? LOL. We are seeing some seriously good-looking games coming out in crypto. Eden Brawl, Cross The Ages, Off The Grid, Illuvium, and many more look amazing. Sadly the legacy gaming crowd remains a bit suspicious of crypto games so we need to see games that are so good people play them in spite of having crypto elements, not because they use crypto.
- Consider the tokenomics! Is the token issued solely as an inflationary in game reward? Then it will have a lot of sell pressure. Is the token used as an in-game currency? Does it have a burn mechanism? Can it be staked? How many tokens remain to enter the market, and how soon? Remember that most gaming coins have bad tokenomics and little utility that will create long-term growth. So when the next gaming season comes remember to book profits. Because a narrative season often sees coins pump regardless of the fundamental strength of a coin.
Personally, I am heavily positioned for the next gaming season run with around 2 dozen venture investments across the sector. And, yes, I will be taking profits when everyone starts talking about gaming coins as the new paradigm of money again.
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How On-Chain Analytics Will Disrupt Business Reporting Forever by Web3 Academy
On-chain analysis is one of the most powerful tools in web3.
It allows us to dive deep into companies, projects, DAOs, and more to uncover the trends, user activity, financial health, and overall performance of a particular entity.
It gives power back to the people where previously most business data was locked tightly behind private servers. 🔒
But times are changing.
In this Deep Dive, the team at Web3 Academy breaks down:
- What on-chain analytics is and what’s wrong with current business reporting ⛓️
- The main ways on-chain analysis will improve data access ✅
- How we can leverage on-chain analysis to improve our decision-making and investing 🤔
Let’s go.
What Is On-Chain Analytics?
On-chain analytics involves analyzing transactions and other data recorded directly onto a blockchain – an open, permissionless, and transparent ledger.
This includes tracking token movement, volume of transactions, and identifying patterns and trends across blockchain use cases.
For example, we can view and analyze any of the on-chain data from OpenSea, such as its monthly fees generated or NFTs sold.
Being able to understand, analyze, and ultimately turn on-chain data for protocols, applications, collections, and companies into valuable insights will be the superpower in the coming decades.
Rather than speculating, it allows you to understand exactly what’s happening in the space to make rational investment decisions.
But before you get too bullish about the benefits of on-chain analytics, just keep in mind that it’s tricky – especially if you’re not a technical person. 😵💫
That’s why at Web3 Academy, we created PRO to do this analysis for you. We combine our industry insights with on-chain analysis to deliver weekly reports packed with actionable insights about where you should invest and build.
Buckle up. This article will turn you bullish af.
And in case you want a taste of Web3 Academy PRO, we’ll provide all Wealth Mastery readers with an exclusive 7-day free trial!
Hurry though. It’ll expire by end of this week (5th of March)
The Current State of Business Reporting
In the current state of business reporting, traditional methods such as financial statements and annual reports rely on manual processes and data entry, which can lead to errors, manipulation, and delays.
Other issues include:
- Lack of transparency: Some companies are not transparent in their reporting, which makes it difficult for stakeholders to understand the true financial health of the business. On top of this, private companies, like Twitter, or governments aren’t obligated to report their financial metrics.
- Bias: There is potential for bias in business reporting, either intentionally or unintentionally. For example, a company may be more likely to highlight positive information and downplay negative information in its reports.
- Timeliness: Financial reports may not be published in a timely manner, which can make it difficult for stakeholders to make informed decisions.
- Lack of standardization: There is a lack of standardization in the way that companies report their financial information, which makes it difficult to compare the performance of different businesses.
However, blockchains offer a solution to these issues by providing a tamper-proof record of real-time activity that can be easily tracked and analyzed.
How On-Chain Analysis Will Change Business Reporting
On-chain transactions give us an insider’s view of companies, protocols, NFT collections, and even blockchains themselves.
This benefits users, investors and entrepreneurs as they can easily analyze an entity of their choice at any time, helping them make better business & investment decisions.
Some other reasons include:
1. Increased Transparency and Accountability
On-chain analytics increases transparency and accountability by allowing us to analyze data recorded directly onto the blockchain.
This includes seeing the number of users interacting with a business and their financial data such as treasuries, balance sheets, and transaction history.
This level of visibility is important for building trust in the business and ensuring it operates as it should.
Without this transparency, situations like the one with FTX can occur where authenticity is based solely on persona.
On-chain data can help identify risky operations more easily than relying on tweets.
2. More Accurate and Up-to-Date Data
On-chain analytics is also changing business reporting by providing more accurate and up-to-date data.
You can even head to Dune right now and browse real-time dashboards that were created by fellow web3 DOers, such as the one below of X2Y2, who made a big splash in the middle of 2022 and managed to take 45% market share of total NFT volume.
What we are able to see on-chain though, is that when you account for wash trading, X2Y2’s market share isn’t as solid as we originally thought.
Real-time analysis of blockchain data allows businesses to make informed decisions and get a more accurate picture of their operations, particularly in rapidly changing industries like finance and technology.
This information is also valuable for investors, who can spot trends early, and creators/entrepreneurs who can use it to build new products or form partnerships with emerging projects.
3. Improved Efficiency and Cost-Effectiveness
On-chain analytics can automate data collection and analysis, saving businesses time and reducing their reliance on manual labor.
This could eventually replace traditional company reporting with data available at all times.
On-chain reporting can free up resources for other tasks such as strategy and innovation, and it can also improve standardization and reduce the cost of maintaining proprietary databases by transacting on a blockchain.
4. How We Can Leverage On-Chain Analytics to Improve Our Decision-Making
On-chain analytics provides access to data from large entities that would otherwise be inaccessible, allowing for more informed decisions about our own businesses or investments.
This is especially valuable in three areas
- On-demand financial reporting
- Marketing and customer analytics
- Supply chain management
Let’s break them down further.
On-Demand Financial Reporting
On-chain data provides stakeholders with a clear and complete view of a company’s financial health, preventing entities from hiding negative information.
Opaque financial reporting led to scandals at FTX and Celsius, which could have been prevented if they were operating solely on a blockchain.
Marketing and Customer Analytics
Right now the actions people take (whether that be posting on social media or buying a product) are hidden and stored in private company servers.
As web3 emerges, all actions, from social media posts to purchases, will be transparent, unlocking a wealth of data.
This includes analyzing customer wallets and identities, revealing valuable insights for companies and creators.
This is a massive win for builders as they can gain a greater understanding of their audience and community, allowing them to create experiences and forge partnerships that their customers benefit from.
For example, on Dune you can find on-chain analysis of BAYC holders and the other NFTs collections that they’re buying and selling.
This is potentially good investment information (if you believe BAYC holders are good investors) because you can literally analyze purchases in real-time, it can also be used by Yuga Labs, the owners of the project.
Yuga can easily see what BAYC holders are interested in and partner with other projects for experiences, giveaways, and more.
Supply Chain Management
There are several problems with current supply chain reporting that can be addressed through the use of on-chain analysis.
- Lack of transparency: Businesses may not have a complete and accurate picture of their supply chain operations due to manual processes and data entry, leading to inefficiencies, errors, and a lack of trust from stakeholders.
- Potential for fraud and corruption: Without a tamper-proof record of activity, it can be difficult to detect and prevent fraudulent activity within the supply chain.
- Inability to track and analyze real-time data: Traditional supply chain reporting relies on periodic updates, which can be outdated by the time they are presented, making it difficult for businesses to make timely and informed decisions.
On-chain analysis can help to address these problems by providing a tamper-proof record of activity that can be easily tracked and analyzed.
This gives businesses a more accurate and up-to-date picture of their operations, making it easier to identify inefficiencies and areas for improvement.
The Question Is, Should This Data Be Publicly Available?
There’s no denying that on-chain transactions provide insight-rich data that we could’ve only dreamed of accessing before blockchain technology.
While it’s extremely beneficial to those outside of public and private corporations since we can decide for ourselves whether they’re acting in our best interests or not, what about user privacy?
One of the big reasons that people champion web3 is because corporations don’t control or own user data. However, if everything is publicly available, doesn’t it negate one of the benefits of web3?
Some people may believe so. But with tools, such as zero-knowledge cryptography, no one will be able to tie pieces of data to a particular person or entity, ensuring user privacy.
Outside of that, on-chain analytics is poised to change the power dynamics of business reporting. No longer will companies be able to serve the information they deem important. Instead, people themselves will be able to decide what data they want to glean from an organization.
And at Web3 Academy PRO, we’re looking on-chain to discover these insights ourselves.
Then we deliver you a weekly report to help you make informed & educated decisions about where to build & invest your capital.
Want to see what Web3 Academy PRO is all about?
What’s Happening With Ordinal NFTs by Sam
You can’t have missed the explosion of interest in Ordinals, which are, basically, NFTs on the Bitcoin blockchain. You can dive into the tech, and some of the controversy around Ordinal NFTs, in this great introduction article here.
Something to keep in mind is that Ordinals are still early, meaning there’s been plenty of minting, but supporting apps are still being built. By the way, we should probably say inscribing, rather than minting, as Ordinals have their own terminology, but you get the idea.
If you’re looking for the OpenSea of Ordinals, then you won’t quite find it yet, but things are heating up and new developments are coming through thick and fast, so let’s look at some top collections, along with some of the wallets and platforms that are on the way.
Ordinal NFT Collections
Ordinal Punks
Image credit: Ordinal Punks
As NFTs are simultaneously the most innovative and the most idea-cloning creative space around, the first big collection had to be, inevitably, punks. But on Bitcoin. Like it or not, these inscriptions have rocketed in value, to the point where an Ordinal Punk was traded for a CryptoPunk. There are 100 Ordinal Punks, all contained in the first 650 Ordinal inscriptions.
Satoshi Punks
Image credit: Satoshi Punks
No blockchain ever limits itself to just one punks collection, so here’s another option. These ones are cleanly made and are actually more original than some of the others, and have been trading, recently, for around 1 ETH.
Taproot Wizards
The original Bitcoin Wizard and a Taproot Wizard
Created by Udi Wertheimer, who’s spent the past few weeks trolling Bitcoin maxis who object to NFTs invading the blockchain, Taproot Wizards feature the Bitcoin Wizard, whose powerful, meme-magical presence dates back to 2013. Ten years later, these updated Taproot Wizard JPEGs now have their own place in Bitcoin history too, locked in right there on-chain.
Inscribed Pepes
Image credit: Inscribed Pepes
Just to give a little background (and complicate matters), there actually (kind of) already were NFTs on Bitcoin, which pre-date Ordinals and were minted through a protocol called Counterparty. This is technically different since it’s a Layer 2, while Ordinals are directly on-chain, but anyway, an iconic Counterparty collection is Rare Pepes, some of which are highly valuable.
That all in mind, it makes perfect sense that at least one top Ordinals collection would have to include Pepe the Frog (the Matt Furie-created character featured in Rare Pepes), and so we have 69 inscribed Pepes.
Ordinal Loops
Image credit: Ordinal Loops
There are three planned stages to the Ordinal Loops project, with the first chapter, Do Not Fiat, consisting of seven animated, retro-tech cyberpunk-looking loops. These are among the earliest Bitcoin inscriptions, and also collaborated with another very early project, Bitcoin Rocks, to create 42 RockLoops.
On the Edge of Oblivion and Distortion
Image credit: Nullish
On the Edge of Oblivion caused an early stir, partly because it could be traded easily through ERC-721 tokens on OpenSea. Each token corresponds to an On the Edge of Oblivion piece inscribed in its own Bitcoin wallet, that can be taken control of later when the Ordinals space is better supported.
The images are inspired by photographs of a black hole, and the collection is the work of a creative developer called Nullish. At one point, these pieces soared to around 3.5 ETH, they’ve now, at the time of writing, corrected all the way back down to around 0.3 ETH, but their positions as early inscriptions are locked in.
Image credit: Nullish
If you check what’s happening with Nullish now, then the more recent activity is around another of his projects, called Distortion. This also features NFTs on Ethereum, the Distortion Genesis tokens, which are linked to early inscriptions on Bitcoin (through an airdropped Claim Pass), while also functioning as access passes to future work by Nullish.
DeGods
Image credit: DeGods
If you’re into Solana NFTs, you’ll be familiar with top collection DeGods. The creator of the collection, Frank DeGods, caused a stir when he announced plans to migrate DeGods from Solana over to Ethereum, and now he’s expanded onto the Bitcoin blockchain too.
Specifically, what he’s done is take 535 DeGods PFPs that were burnt from the original Solana collection over a year ago, and place them in a single Bitcoin block, stating for dramatic effect that “what is dead may never die” as he did so.
BTC Machine
Image credit: BTC Machine
This collection doesn’t provide a roadmap, utility plans, a token proposal, or any of the things you might be used to when assessing NFT projects, but, basically, Bitcoin Machine items are early inscriptions and have attracted attention as cool-looking collectibles, so it’s one to be aware of.
Ordinal NFT Trading
Image credit: Ordinals Market
The way to buy and sell Ordinals at the moment is over-the-counter (OTC), meaning you have to personally set up a trade. This means jumping into Discord servers, where there are channels set up for buying and selling. Either go to the Discord of the specific collection you’re interested in, or go to The Ordicord, which lists projects and is a hub for activity and resources. The Ordinals Wallet Discord also lists some mints and has useful information.
Development is moving fast, though, and it’s likely only a matter of time before the majority of trading moves onto marketplaces. Some platforms to keep an eye on are OrdSwap, Gamma (primarily a Stacks Layer 2 platform), Scarce City, and Ordinals Market.
The last of those, Ordinals Market, uses a bridge-like service called Emblem Vault, which ties Ordinals to tokens on Ethereum. By the way, Stacks, like Counterparty, is a Bitcoin Layer 2 which can handle NFTs and also predates Ordinals.
Image credit: Generative
There’s also Generative, which specializes in generative art, and just integrated MetaMask, a significant development that creates an Ordinals-compatible Bitcoin Taproot wallet through your MetaMask address.
Another platform called Ordinal Hub is shaping up to be a useful place to keep on top of the many collections that are being inscribed. Ordinal Hub has been acquired by Bitcoin mining firm Luxor Mining, and it’s looking clean and user-friendly.
Ordinal NFT Wallets
Image credit: Ordinals Wallet
Buyers can use a Sparrow wallet to receive Ordinals, which is technical, but doesn’t require running a Bitcoin node. The Ordinal Theory Handbook details how to do this, and–very importantly–cautions to use this as a receive only wallet.
There are now more user-friendly options becoming available, though, and the main contenders are Ordinals Wallet, Xverse, Hiro Wallet, Alby, and the Ordswap platform mentioned above also has its own wallet.
Overall, the Ordinals space is in a state of such energetic development that we should expect rapid change and plenty of surprises.
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Trending Coins This Week by Rebecca
Here are my key takeaways from the trends this week and it’s been full of launches, integrations, and partnerships.
1 – Blur is an NFT marketplace that’s launched its native token BLUR with an airdrop. The BLUR token began trading on February 14 and dropped more than 85% in a matter of hours. OpenSea has also announced its limited-time offer of no fees to compete with Blur.
2 – HELLO is a TV, gaming, and NFT ecosystem on BNB that’s partnered with Altcoin Daily to launch a new TV show called Killer Whales later this year. It’s been dubbed the Shark Tank of crypto. The HELLO token has been listed on three exchanges including MEXC Global.
3 – Access Protocol is a content monetization protocol on Solana and Starknet that’s just celebrated its launch. Its ACS token is also being listed on major exchanges such as ByBit and Coinbase.
4 – Camelot is a DEX on Arbitrum that’s seen huge growth in its daily trading volume since launching at the end of 2022. Its GRAIL token is up 520% this month alone.
5 – Vela is a DEX on Arbitrum that’s two weeks into its open beta program and is seeing over $125M in trading volume. An airdrop has been confirmed for beta users, but no date has been announced.
6 – FLOKI is a meme token on Ethereum and Binance Smart Chain that’s risen 62% in 24 hours after Elon Musk tweeted a photo of his dog, who is also named Floki.
7 – Gains Network is a decentralized trading platform on Polygon and Arbitrum that’s been listed on Binance and BitMart.
8 – Polygon is an Ethereum side chain that’s announced it will launch its zkEVM mainnet beta on 27 March. Starbucks Polygon NFTs are being flipped for almost $2K apiece ahead of the platform’s public rollout. Siemens has also issued a €60M digital bond on Polygon.
9 – Filecoin is a decentralized data storage protocol that’s announced it will launch its Virtual Machine on 1 March, to bring smart contracts and provable storage to the blockchain. The FIL token has jumped over 30% on the news.
10 – Ethereum developers have agreed to move forward with launching the Shanghai upgrade on the Sepolia testnet on 28 February. They have also made progress on the planning for the next upgrade called Cancun.
11 – GMX is a decentralized perpetual exchange that’s integrated Trading View charts into its platform. GMX traders can also buy the GMX token using any token from any network via the O3 swap DEX.
12 – Energy Web is an organization building open-source operating systems for energy grids that’s announced it is joining a new EU-backed initiative to boost energy efficiency in Europe. Energy Web is now available on Microsoft’s Azure Marketplace.
13 – Gala is a play-to-earn (P2E) gaming ecosystem that’s launched a game update and new pack bundle for The Walking Dead: Empires. The Gala team has also released an update on its burn-to buy program.
14 – Chainlink is a decentralized oracle network that’s seen Overtime launch on Arbitrum. Overtime is the first successful sports AMM built with Chainlink sports feeds.
15 – Radiant Capital is a DeFi protocol on Arbitrum that’s planning to launch its v2 upgrade on 21 February. The RDNT token has also been launched on ByBit.
Follow Rebecca on Twitter and Instagram.
Final Notes
There is some HUGE CRYPTO NEWS for Ethereum, Abritrum, Solana, AI, EGLD, and more so make sure to watch the video below so that you don’t miss out!
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.
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Lark and the Wealth Mastery Team
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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.
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