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Mason Nystrom Profile picture
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8 Jul, 7 tweets, 3 min read
The NFT market continues to grow and the top 15 NFT marketplaces have now facilitated nearly $2.5 billion in volume.

A Quick Thread on The NFT & Web3 Q2 Trends 👇🏻 NFT marketplaces have facilitated nearly $2.5 billion in cum
Messari's Q2 Web3 and NFT report is free for all so check it out for a recap on what you missed in Web3 and NFTs!
messari.io/article/web3-n…
One of the strongest performers this quarter was Axie Infinity.

The Axie Treasury grew $18 million throughout the second quarter.
Perhaps the most notable trend in Q2 was the continuation of NFT avatar projects.

NFT Avatars (e.g. Meebits) continued to grow in popularity as the emerging sector generated nearly $350 million in secondary sales throughout Q2 and nearly $600 million in the first half of 2021.
However, concentration among these NFT avatar projects still remains strong with no avatar community have over 5,000 owners which grows worse when factoring in that most of these projects only have ~10k NFTs.
Elsewhere Web3 is finally hitting its stride:
• Ocean's data marketplace TVL crosses $3.3m
• Sia, Arweave, and Filecoin continue to increase
capacity and store more data
• Handshake registered domains are at an ATH
• Helium is onboarding thousands of hotspots per
week
What next quarter holds is anyone’s guess, but if these trends continue the second half of the year is setting up to be spectacular for those who care about Web3 and NFT adoption.
messari.io/article/web3-n…

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More from @masonnystrom

Mason Nystrom Profile picture
9 Jul
Rarible has generated over $155 million in cumulative NFT trading volume since inception and continues to grow as an NFT liquidity protocol.

A thread on Rarible, its current state, and potential🧵 Image
For a deep dive into Rarible and the current status of the protocol, check out the full piece in MetaPortal.

Special thanks to @DarkForestCap and @verto0912 for the feedback and input.
metaportal.substack.com/p/metaportal-r…
While Rarible's volumes have slowed with the NFT market cooldown, a large reason for this was that it didn't offer the trading of non-Rarible assets.

However, now assets like Sorare are tradeable on the platform, Rarible users are back to pre-NFT market top levels. Image
Read 6 tweets
Mason Nystrom Profile picture
29 Jun
Perhaps the most entertaining story on governance this year comes from your neighborhood gas station, Exxon Mobil.

Exxon's story also shares an example of how the value of governance will evolve in crypto.

A Thread on Proxy Wars, Exxon, Crypto, and Governance 👇🏻
Exxon Mobil – one of the largest oil producers in the world with a market capitalization of $270 billion – has recently entered the proxy fight of its life.

Special thanks to @HayleyMcCurdy17 for providing expert insight into ESG focused investing.
messari.io/article/the-la…
Activist fund, Engine No 1 bought 0.02% of Exxon with the intent of pressuring Exxon to adopt a greater ESG focus.

The argument is that Exxon’s unwillingness to divest from oil and gas has resulted in the underperformance of the company which is management’s (the board’s) fault.
Read 10 tweets
Mason Nystrom Profile picture
9 Jun
Fundamental Web3 protocols like Ocean, Helium, Livepeer, and The Graph are creating valuable infrastructure and marketplaces for services and data.

.@Kdrizzle22 examines @OrchidProtocol and its decentralized VPN marketplace in his recent research piece.
messari.io/article/orchid…
Orchid's key piece of infrastructure is nanopayments – probabilistic payments where instead of sending $1, a consumer would send a payment with a provably fair 1% chance of paying $100.

Orchid's infrastructure can be used to create other marketplaces that require nanopayments.
Orchid faces competition from existing VPN providers, but can potentially compete on a few axes:

1) Price - most important for consumers

2) Security - enhanced encrypt, no single server or point of failure

3) Privacy - many VPNs are free but collect your data and sell it
Read 4 tweets
Mason Nystrom Profile picture
2 Jun
The most valuable assets are intangible. However, this hasn’t always been true.

Before the 1990’s the most valuable assets – as categorized as components of the S&P 500 – were tangible assets(i.e. Land, equipment, etc).

Crypto will increase the value of intangible assets. Image
This trend might not surprise you, as it might intuitively make sense in the context of everyday life.

Disney+ is valuable because of Marvel and The Mandalorian. People drink Coca-Cola instead of the clearly tastier Pepsi. Users buy Fortnite skins which hold zero in-game value.
Intangible assets, in particular, intellectual property are often described as illiquid and inefficient for a variety of reasons including market opaqueness, inconsistent valuations, and lack of standardization.

Digitizing & programming IP assets can help alleviate these issues.
Read 4 tweets
Mason Nystrom Profile picture
13 May
The bull market has caused DAO treasuries to balloon over the past year, with the top ten treasuries now possessing balance sheets worth hundreds of millions, or in some cases, billions of dollars.

However, DAOs in their current form are set up for financial failure.

1/
Nearly all of the top treasuries have the entirety of their assets in their native token and don't hold a notable % allocation of stablecoins or less volatile assets like Ether or Bitcoin.

Effectively, most protocol treasuries are subject to the turbulence of the market.
Proper risk management ensures protocols have sufficient capital to cover immediate expenses and weather uncertain tides.

Read the Messari Enterprise Report for an analysis on how DAOs can restructure to avoid significant loss if the market corrects.
messari.io/article/a-cris…
Read 7 tweets
Mason Nystrom Profile picture
27 Apr
Messari Screeners track over 35 of the largest crypto-focused venture and hedge funds including Coinbase Ventures, Pantera, Polychain, a16z, and more.

Of these funds, we’ve analyzed their public holdings and found the most commonly held assets across all the portfolios.

👇🏻👇🏻👇🏻
Investing like a crypto fund – venture or hedge – has never been easier. An average investor can quite literally copy-trade these portfolios and mirror any of their favorite funds.

Pro users get access to the full Screener Spreadsheet in the analysis:
messari.io/article/messar…
There is also a Messari screener displaying these assets (ordered by market capitalization).

messari.io/screener/messa…
Read 10 tweets

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