Thread by @Max___Brs

🧵 THREAD on CURRENT MARKET and ANALYSIS 🧵

Haven't done this for a month but market conditions are changing so time to update you!
Current branding meta is starting to fade as you see and we're starting a new period in the money rotation cycle

My thoughts below
👇

(1/17)

The last projects have been a deception for most people on Solana: @kingsofdastreet, @JIKANSTUDIOS and @trippyworldlabs as an example. Everyone was waiting for mininmum x5 on mint price to flip.

A couple of next mints will do very well but 90% won't (I take bets 😛)

(2/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs As in every situation let's properly define the problem first to take effective decisions, which comes to 3 things imo:
1/ Unreal expectations
2/ Mint liquidity > Sol NFT adoption
3/ Projects valuation vs delivery

(3/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs 1/ Unreal expectations

For people who have been here in October / November, you know that only one or 2 mints per week made it above mint price !
In our recent euphoria period, it's been crazy to see that every collection was doing minimum x4 on listing

(4/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs But the R/R ratio is simply way too low to ape in secondary listing with that liquidity spread.
We were in good situation because the euphoria period has been extended by fresh money from #EthereumNFTs

Which brings me to 2/

(5/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs 2/ Mint liquidity > Sol NFT adoption

The number of mints we've seen in the past weeks is crazy: on average 50k-70k sol needed PER DAY to sell out collections !
And we're not onboarding new people at the same rythm on #SolNFTs

(6/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs Yes, we're growing as you can see from @HelloMoon_io or @cryptoslamio data but way less than the increase in mint volume needed to absorb all + to also sustain the floor price of minted collections

(7/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio And let's not forget that the last months have been a nightmare for new people to join #SolanaNFT between WL entry requirements and public mint botted.

Imo this is where the ecosystem should focus first

(8/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio 3/ Project valuation vs delivery

Mints are fundraising to achieve a specific plan, hire the full team, build the MVP, secure the IP, etc.
Most teams won't start with a lot of funds and we can't expect all of them to have a working product.

(9/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio So it's not helping them to send the project at a 30-50M$ valuation straight after their fundraising!

Teams need time to deliver their vision, let's finally see them as real businesses and, in return, ask for more transparency as shareholders would do

(10/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio Of course
there are other factors influencing/exacerbating this but I don't see it as root causes
-market manipulation: there are and will always be
-listing during mint: non-event imo, ETH has been doing it for a long time
-$sol value: it covered the liquidity spread

(11/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio But these factors definitely add to the risk and fear sentiment.

So now that we have a risk averse ecosystem because not all secondary listings will be above mint price, we'll see money rotating to safer bets, ie value projects / builders

(12/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio It already started with many utility collections pumping, to name just a few: @SolfulNFT, @atadia_io, @MeltLabs, @SolanaMBB, @SOL_Decoder, etc.

And I've been accumulated some others with the same type of profile 👀

(13/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio @SolfulNFT @atadia_io @MeltLabs @SolanaMBB @SOL_Decoder My recommendations
-be on the lookout for projects starting the deliver with the funds they accumulated in the last months
-Be bullish on teams, listen to AMA, DOYR and form your opinion
-still remain alert for next mints as blue chips emerge from bear market

(14/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio @SolfulNFT @atadia_io @MeltLabs @SolanaMBB @SOL_Decoder This is typically a bet from my perspective but I'm sharing it anyway :

OG -> PFP / Branding -> Hype / Derivs -> Utility -> Metaverse
Repeat

(15/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio @SolfulNFT @atadia_io @MeltLabs @SolanaMBB @SOL_Decoder I probably won't be as much clear-sighted as the last time though
(Except Pirates which rugged me with their game release XD) but that should help to refine your secondary strategy.

We'll review mint plan separately.

https://twitter.com/Max___Brs/status/1501905221068279808?s=20&t=dtxwE317Q7PVJT7TOaxqtg

(16/17)

@kingsofdastreet @JIKANSTUDIOS @trippyworldlabs @HelloMoon_io @cryptoslamio @SolfulNFT @atadia_io @MeltLabs @SolanaMBB @SOL_Decoder And as usual,
-hold what you're comfortable holding
-save some liquidity to be prepared for a prolonged bear NFT period
-add extra risk when you can manage it

Take care frens!

(17/17)