1/ Last week I wrote about #Metaverse and #PlayToEarn cryptos decoupling from $BTC.
Every day that goes by, that is looking more and more like reality. Will it last? I am hopeful, but not convinced.
Every day that goes by, that is looking more and more like reality. Will it last? I am hopeful, but not convinced.
https://twitter.com/LadyofCrypto1/status/1461345207039922176
2/ This chart shows $MVI, which is the Metaverse index, an index of several MV cryptos overlaid on a $BTC chart.
Since the end of September MV has decoupled from BTC. This was due to Zuckerberg changing FBs name to Meta. News based decoupling is common and not noteworthy.
Since the end of September MV has decoupled from BTC. This was due to Zuckerberg changing FBs name to Meta. News based decoupling is common and not noteworthy.
3/ From the 10th of November, things have become strange. We are seeing a true decoupling. Last week I thought it was momentary and things would reset. One week later the gap is only getting bigger.
Is it permanent?
Is it permanent?
4/ I think much of this is FOMO driven, but I am starting to believe a lot of it is real. #PlayToEarn and #Metaverse legitimately seem to be breaking away.
We might have the first case of an entire sector decoupling from $BTC.
We might have the first case of an entire sector decoupling from $BTC.
5/ What happens if BTC nukes from here? I find it hard to believe that gaming cryptos will not react. However, some of them have such strong uses cases that they might just survive.
Look at $PYR, there is already a huge user base, but it's going to get bigger.
Look at $PYR, there is already a huge user base, but it's going to get bigger.
6/ Their players are there for the game, not for the price of BTC.
Look at $UOS, a game distribution platform that will host crypto and non crypto games alike. It has its own blockchain, it is its own thing.
Why would UOS users care about the price of BTC?
Look at $UOS, a game distribution platform that will host crypto and non crypto games alike. It has its own blockchain, it is its own thing.
Why would UOS users care about the price of BTC?
7/ Then look at this, Grayscale sees metaverse as a sector with separate growth potential to BTC.
cointelegraph.com/news/the-metav…
cointelegraph.com/news/the-metav…
8/ So is this a temporary decoupling like we have seen sectors do before? Or is this one the real deal?
I believe that only time will tell, but I am very excited I got in early and that I shared it with you lovely people.
Thoughts?
I believe that only time will tell, but I am very excited I got in early and that I shared it with you lovely people.
Thoughts?
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