🧘♂️SPOTTED: Hot New Trends
Watch Out For These 2 Narratives!
There’s a lot of hot narratives right now, make sure you’re aware of them.
Narrative 1: NFT P2E Metaversal Games - Introducing Genopets
Narrative 2: DAOs - Explanation and Examples
Read, enjoy and share with your network. Let’s all build wealth together.
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CoinDesk recently reported a partnership between Genopets and Yield Guild Games.
Most people in NFT gaming have heard of Yield Guild Games but what is Genopets?
🔯 Introducing Move-to-Earn Gaming
Genopets is a “Move-to-Earn” game where users can upgrade and progress their in-game assets and earn tokens, which are used to craft items and upgrade their Genopets style and performance.
Move-to-Play + Play-to-Earn = Move-to-Earn Gaming
It’s a metaverse project that encourages users to be physically active in order to progress within the game.
So you can get rewarded for walking your dog, doing your grocery shop or walking to the fridge for a snack!
⚛️ Your Metaversal Self
You begin your journey by creating your personal Genopet. Consider this your digital spirit animal. A version or extension of yourself in the metaverse.
In fact, the Genopet will be encoded with your personality and fitness data:
Your Genopet is encoded with your psychographic and biometric data from the start making it provably unique to you.
These personal traits are then run through a secure algorithm to determine your Genopet’s starting aesthetic and performance attributes.
💡 TIP: Remember, similar to technical analysis, you want to look for confluence to help build a thesis regarding a project. Genopets benefits from a strong narrative and community. It’s always helpful to consider who a project is partnered with too. Yield Guild Games is a leader when it comes to NFT Gaming and will likely provide a lot of value to the project.
☪️ Further resources
For more on project due diligence, check out our newsletter guide here.
Genopets’ TGE is scheduled for 18th November, for more information, check out their medium article here.
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📉Don’t Invest in Crypto?
The CFO of a leading company stated that investing in cryptocurrencies “doesn’t make sense right now”. But which company do they work for?
🏦 Well and DAO’ed
Regardless of how it’s meant to be pronounced, we should probably all know what a Decentralised Autonomous Organisation is, as they are starting to gain in popularity, especially since the birth of DeFi.
Let’s briefly touch on what they are and why they’re important:
A DAO is an organisation with no central governance or middlemen, controlled purely by smart contracts and its community members.
DAOs are typically funded by crowdfunding for governance tokens. If a community becomes revenue-generating it can then fund itself sustainably and reward members for different contributions
All transactions are recorded on the blockchain and any rule changes to the smart contracts have to be voted on by the community. A downside of this is that any security bugs can’t be fixed until the patch receives a majority vote.
Some well-known examples include UniSwap and Aave, but also PleasrDAO and JennyDAO, which collect unique NFTs and provide fractional ownership to members.
With the ongoing Metaverse hype it’s easy to see why DAOs may start to feature heavily in the near future – massive online communities that all want a stake in their game or virtual world without outside interference.
💡 TIP: When researching, check whether a DAO is already in place or planned for the future. A lot of tokens start with some form of ‘steering committee’, who may need to be trusted, at least to begin with. To get an idea of the most valuable DAOs out there right now, check out this list sorted by market capitalization on CoinMarketCap.
Twitter’s CFO Ned Segal stated that investing in cryptocurrencies “doesn’t make sense right now,” in an interview with the Wall Street Journal on Monday.
Despite Jack Dorsey being a strong supporter of cryptocurrencies such as Bitcoin and other decentralised technology the reasons given by Segal are as follows: Twitter would have to change its entire investment policy to allow such volatile assets onto its balance sheet.
Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
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