So we’re starting an occasional series here called “Not Investment Advice.” We’re reaching out to a few people — in the Bitcorn universe and in other financial worlds — and we’re asking them: “What would you do with $1000 right now?”
This is, as we say in the headline and in the first paragraph here, “Not Investment Advice.”
Our first contestant is my buddy Mike on Twitter (his handle is @TxdoHawk) and below are his thoughts. As the days progress, we’ll add more comments from more commentators.
Mike (@TxdoHawk) Says:
DeFi Kingdoms (JEWEL) – There’s been a lot of discussion of blockchain gaming, Play 2 Earn, and the like in the back half of 2021. Studio after studio have launched flashy 3D trailers promising epic universes to explore. But in the meantime, DeFi Kingdoms has been quietly building out their vision: A gamified decentralized exchange that’s a love letter to a simpler time of 2D, 16-bit RPGs.
I have two rules when it comes to these sorts of investments. One, bet on teams, not projects; it’s clear the DeFi Kingdoms team has put a lot of careful thought into building out their universe. One only has to attend one of their weekly AMAs to get a real sense that this is a group serious about what they do and how they execute. Everything is thought through, the fledgling economy is carefully considered even at these early stages, and they are truly excited to share their ideas with the world.
Rule two is “one line of shipped code is worth more than a hundred roadmap promises.” Here again the team has excelled: In the 4 months since launch they have launched their DEX, hero NFTs that can earn experience and stat boosts, along with the beginnings of questing and the basics of an RPG-style economy where quest rewards can be earned, as well as bought/sold.
Skeptics might point out that the real meat of the game has yet to arrive: Major items on the to-do list are the remaining basic profession quests, along with lands (and their mechanics) as well as a PvP combat system. But what this team has already launched still dwarfs most projects in the space, many that have little more than a hype video and outstretched hands begging for investments.
The easiest way by far to get a foothold in this world is via the liquidity farms, referred to as Gardens. You can be earning JEWEL in a matter of minutes with no further effort required, and the APYs are still generous to this day, although a good chunk of that will be “locked” and released over a further out timeline. But think of that locked JEWEL as a generous call option: by the time you get your grubby paws on it, it could very well be that DeFi Kingdoms has built out one hell of a thriving ecosystem, especially with the newly-announced Crystalvale expansion coming to the Avalanche network.
Dave from Metacoin (That’s Me!) (@TeamMetacoin) Says:
I continue to be in awe of what they’re building at $MAGIC, whose website is Treasure.lol. Really. They have a “dot-lol” web domain.
And this is just from an investor standpoint, as I have yet to ACTUALLY PLAY THE GAME. (What’s Warren Buffett’s line about “investing in what you understand?”)
What I *do* understand is the convergence of NFTs (yes, I’ve created them and bought a bunch), DeFi (been there, done that), and gaming (duh).
They have the “slick video” going for them — but, to Mike’s point above, rather have delivered code, so the jury is still out on all of it — as referenced here:
This one is out of the “better lucky than good” dept. See chart below.
To be honest, this one was part of my “let’s speculate on a couple assets” plan toward the end of 2021. Others may not have done as well; $SPELL and $AVAX each doubled for me (thanks to good timing) but aren’t up multiples like my $MAGIC bet.
Whether the sky is the limit or not is a whole other question. But, and again THIS IS NOT INVESTMENT ADVICE, $MAGIC could be an interesting one to watch in the months to come.