In This Issue
- My latest portfolio updates.
- Rebecca breaks down this week’s trending coins.
- Sam has a report for you on Art Blocks.
- David breaks down the differences between Cardano and Solana.
- Jesse has a deep dive for you on Zcash.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
Lark’s Portfolio
This Week’s Moves
Not too much this week as my Dad is visiting and I have been dialed out of the markets.
I just bought some Bitcoin.
I also swapped my stETH back over to Ethereum.
I sold some WETH that I claimed from Looks Rare staking last week for USDC.
I also sold some GMT from my early stage investment on release.
Too Early
I read an interesting article by Coindesk the other day that Decentraland and Sandbox, the biggest crypto metaverses, both have less than 1,000 daily active users. And yet, these coins have market caps of over a billion dollars. That is about $1,000,000 in market cap per daily user. Sandbox has said these numbers are wrong and that they have 210,000 monthly active users and Decentraland said that they have 56,000.
Still though, it got me thinking.
Valuations in crypto are notoriously hard to “get right” due to this all being such new technology. The fact is that we are still so crazily early on most sectors in crypto.
There are a few break away apps like SWEAT that have millions of users. Yes, the major blockchains maintain good daily user bases, but most dapps are not doing awesome as far as gaining traction with users is concerned.
Here are a few sectors with big potential, but which are largely still too early:
Metaverse – There was a moment in time when EVERYONE was talking about the metaverse. It was the next big thing. Only problem is that the metaverse of promise is many years away. We are still wildly early in this sector. And while early movers like Decentraland, Sandbox, and Wilder World have made big moves there is no guarantee they will prove to be the winners especially when industry heavyweights like Facebook are going all in on metaverse.
Gaming – Crypto and gaming go together like peanut butter and jelly. The value proposition for game developers and users is massive. However crypto gaming has not truly had a break away moment yet. Games like Axie Infinity did attract users, but also those just looking to farm tokens by playing and breeding. However major gaming studios are investing in the space, and the quality of game releases continues to be increasing in quality. And, yes, users are noticing with games on cheaper chains like Polygon and Solana starting to get real user bases. BUT, even then many games will simply fade away into irrelevance, but some will make huge gains. The trick is finding the winners… and remembering to take profits!
Insurance – In the real world insurance is a massive industry. In crypto it remains a very niche product. Nexus Mutual is the only insurance protocol with any real traction, and it does not see any real value accrue to token holders. Others like Bridge Mutual have basically failed to navigate the narrow path of incentives for liquidity providers and token inflation….
