It is basically difficult to update the cognitive logic without learning. The current investment system is very fragmented. In fact, Crypto is also fragmented in various ways. We still have more than 100 million people playing and you can’t keep up. When will one billion players, you will find Like the stock market now, it’s inwardly rolling, so get back to business.
I remember quite clearly that when DeFi was hot last year, everyone was scornful of NFTs, and it was difficult for me, including me, to understand this stuff, but the recent market attitude towards NFTs, quoting the stock market, reminded people of Napoleon’s escape from Elba Island. In the next seven days, the title of a newspaper changed-“On the first day, the Corsican monster landed in the Port of Rouan; on the second day, the cannibals marched towards Grasse; on the third day, the usurper entered Grenoble; fourth On the day, Bonaparte occupied Lyon; on the fifth day, Napoleon approached the Palace of Fontainebleau; on the sixth day, the emperor arrived in Paris.” In just a few months, market perceptions and investors’ subjective attitudes have adjusted a lot.
Let’s start with the easy-to-understand game valuation, using the top AXIE as an example. AXIE is like a sharp sword of NFT, which rises instantly at the end of Qingping. The NFT Avatars project is the focal point of cognitive fragmentation. AXIE has running revenues and has a profit of over one million users per day. The basic logic is very standard, so we I also recognize the P2E investment system, and the rest is nothing more than the issue of market space and the moat. In the market space, let’s refer to Internet game companies to see the revenue of game companies in 2020:
The head effect is significant, and it is basically the monopoly of Tencent and NetEase. In 2020, the revenue of the glory of the king is 2.5 billion US dollars, and the gross profit margin of the game is basically above 50%. That is to say, a single top game may currently have a profit of 1.5 billion US dollars, and this It can’t be achieved overnight. A horizontal comparison: Moutai’s net profit in 2020 is 7 billion US dollars, Tencent Holdings (not just the game part) net profit is 25 billion US dollars, and Apple’s net profit is 57.5 billion US dollars. AXIE currently has a market value of 20 billion U.S. dollars. The market value is determined by profit and valuation. Therefore, how much space is left depends on how you give PE and whether the subsequent profit can increase again.
The moat problem is relatively simple. Look at the many unsustainable game products, and look at the gap between the median revenue of the game company’s revenue and the head, and you can know how difficult it is to maintain a good game in order to make a good game. How to retain users in the form of Crypto is a question that every P2E game project should think about.
How does the avatar generate revenue? In other words, what are the rules to follow for investment avatars? The basic logic of investment is the same, so I have always been skeptical about things that can’t generate cash flow. There are so many and varied games, and the avatars are so messy. How do you cut in? We still have to find some rules that apply everywhere. Issuance is easy to maintain and difficult to maintain. It is not easy to understand the moat or irreplaceability of the head avatar project. I also probably browsed some narrative (cx) logic. If we are not able to convince ourselves, then we should continue to search according to some of our own thinking.
First, the reservoir supports. We all know that the large-scale release of the epidemic will be withdrawn, but when and how to close it has become the focus of everyone’s game. It can only be said that the Fed has demonstrated superb PUA technology on this issue. The market has been delayed again and again without implementation, which has given the market sufficient preparation and expectations. US stocks have also shown extreme flexibility and have repeatedly reached new highs. The Fed’s super-high expectations management level has also been demonstrated vividly, so more money is sure Is the main cause.
Currency has been printed and distributed continuously, and different carriers are needed to carry so many over-issued legal currencies. There must always be a place to flow, which will form many reservoirs. Land and real estate are a super large reservoir, and the stock market is a large reservoir. The pool, the art collection is also one of the cisterns. After the large rivers and the sea are full, even a little overflow of the sea water can cause small lakes and rivers to overflow. There is indeed too much money in the market. From the end of the fundraising of A16Z and the rapid investment in the first-level projects, we can see how urgent it is to get the money out. Water release and inflation coexist, water release and U.S. stock market bulls coexist, water release and U.S. dollar strength coexist, water release and Crypto bulls coexist, too fragmented, let alone our cognitive fragmentation, a bunch of stock market fund managers are experiencing self-remodeling.
Second, the composition of knowledge reserves of different groups of people. Personally, I prefer a bit Ethernet one of the first to contact some of the people are geeks or people have accumulated a strong computer cryptography, developed to mainstream public basic chain is also true, as the second wave to DeFi Alpha-growing market, the advantages of People with contract and financial background. Up to now, the overall level of Crypto 2W billion US dollars, we have seen a lot of opportunities for WEB3, and some advantages have begun to tilt towards people with a background in Internet art, sports, and games. If you are not interested in the game itself or play games, it is difficult to get in touch with the P2E mode at the first time. If you have no interest in art, it is difficult to know who Beeple is the first time, let alone understand or even participate in this time-consuming process. The work “Everydays: The First 5000 Days” created in 2014 (finally sold on the famous British auction platform Christie’s for $69.34 million.)
Third, the demand level. It is also easier to understand, Maslow’s demand theory, the economic basis determines the superstructure, what level of economic level will be derived from what level of cultural needs. Cangling is enough to know etiquette, food and clothing are enough to know honor and disgrace, chaotic times are golden and flourishing calligraphy and painting, now the market investment risk appetite is such a high sentiment, many cultural and social needs need a window for display.
Finally, the cognitive update is over, how to guide the practice? The most unbearable thing in the stock market is to keep discussing. You are neither a stock analyst nor an analyst. The ultimate goal is to fall on your net worth. If you have no first and no second, your net worth is high, and you have more money. It can always be ranked, so how do we participate? I believe that many people may be like me. Although they occasionally play the game of Honor of Kings, it is difficult to spare a lot of time to follow up various games. Although they have their own preferences, it is difficult to understand some works of art. The indicator is: market value determines everything. Think of the dazzling avatars as projects, and the paintings as tokens, so that the market value of the issuance is easy to count.
For example, the 0n1 force project has an issue price of 0.077 ETH, and the total amount is about 7777. The initial market value is about 600 ETH or 200W US dollars. Quoting the introduction of 0n1 force, “0n1 is mainly based on the creative style of Japanese comics. In the pre-sale stage, Obtaining mint qualifications based on discord’s activity has led to an extremely active community and full of competition; secondly, the project’s expected management is very bold. In the sneak-PEek stage, most projects will release the best-looking rare funds for publicity, and The pictures released by 0N1 are all ordinary models, including the pictures on the official website. As a result, the new masks, new hairstyles, and new skins exploded in an instant when they were officially revealed, causing a new round of discussion and spontaneous transmission.”
Another example is maoNFT. The total issuance price of 5,000 is 0.08 ETH, which is the issuance market value of 130W. Just give it to another Crypto project. If you have a chance, don’t you participate in this valuation?
Another example is the Qingming River Tour, with a circulation of 10,000 copies and an issuance price of 0.04 ETH. The issuance market value is about 130W US dollars. ”, “Forbidden City”, “Hot Pot City” and many other well-known buildings. Among them, the “Three Palaces of the Forbidden City 3D Print Model” was invited to be exhibited at the Palace Museum, and it became the number one in Baidu’s hot search index on that day, which also shows Guojian has a unique influence in the MC circle. At present, Guojian has 750,000 fans at station B, and its works have been broadcasted over 30 million. “If you have a chance, don’t you participate in this valuation?
After the secondary transaction, the unit price of each Token is different, and the market value is multiplied by the number of issuance by the Floor Price. Therefore, this market value is definitely not the market value in the strict sense. It is actually the minimum market value of the project. I call it the market value as a reference.
There is no data on CryptoPunks, I did not calculate it carefully, but the Top4 BAYC form can calculate the market value of about 250,000 ETH, which is about 800 million US dollars. You have to understand that this is the Floor Price) 1 billion, 5 billion, and 10 billion US dollars are basically the demarcation point of each track. From the current market situation, judging from the capacity of each track’s reservoir, there is still room for growth. , This gives us very important stage guidance.
The most important parameters have come out. The other is to see if the team is excellent and if there are many holders. For the rest, you have to talk about specific manifestations such as monkeys, dogs, cats, and stones. There are too many, and I’m sorry, many of them are true It’s hard to agree. How does this unify the level of art appreciation? Then the question is, does this affect our participation? Does not affect; does this need to study the inner content of each specific project? There is no need to be simple (of course, in-depth research will definitely have many benefits for your cognitive project) will eventually be reflected in the market value and the number of users.
Finally, the NFT issuance logic and transaction logic are very clear. The corresponding public chain issuance platform and Opensea are configured. Rari and similar NFT trading platforms are no problem, and Fractional can also be used to brush the volume.
There are no stocks that are not sold, only prices that are not sold. Don’t be like me, don’t lock up the crypto cat for a long time, calm your mind, don’t care too much, the water is warm or not, you will know when you enter the water, you can’t perceive it on the shore, and the focus is on participating and having fun.
Original author: Pima, Co-founder of Continue Capital
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/continue-capital-co-creation-of-horses-talk-about-avatar-nft/
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