Crypto portfolio update

Invested in: Jewel (JEWEL), Bitcoin (BTC), Ether (ETH)

Net return: 58.8%

Comments: Over most of the past week there's been a lull in DeFi Kingdoms (DFK), as the launch of profession quests was delayed, and many people ran out of Gaia's Tears (an in-game material used for hero summoning), leaving players with nothing much to do in the game.

I took this opportunity to buy a few more Gen 0 heroes that were selling at - in my opinion - a discount, using the profit I've made in prior weeks. This is why the 'Net return' entry above is significantly lower than previously; I do not include hero investments in there because heroes are not a very liquid asset.

Yesterday, a "lite" quest ('Wishing Well') was launched on the beta site, once again igniting enthusiasm among players. I've given it a few runs and I have to say: it's pretty addictive.

It seems like the developers really know what they're doing, and the consistently well-handled rolling out of game features fortifies my conviction in the game. So although the JEWEL price has taken a significant dip recently, I'm not in the least bit worried. In my view, it won't take long for the current all-time high price to be broken again.

Many players in the DFK Discord server have suggested that hero prices will drop when the profession quests go live... but I'm not so sure about that.

You see, when running the 'Wishing Well' quest I got an average 0.94 Tears per hero, per run. That works out to be about 2.8 Tears per hero, per day. At the current Tear price of about $9 (based on the Marketplace), that's about $25 in earnings for just one hero, per day. Over the course of a month that's over $750 per hero based on the Wishing Well quest alone!

In response to this new reality, the price of heroes has quickly adjusted. The floor price used to be 100 JEWEL, but it's now closer to 200 JEWEL which works out to about $800, or an ROI of 93.7% per month. This isn't sustainable so either the price of tears will drop, or the price of heroes will go up. Either way, change is coming and that's where new opportunity lies.

DFK is only just getting started and with the flood of new players coming in, it seems likely for the demand for heroes to outstrip supply over the next few months at least.

Admin update

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₿ Crypto news

• By now, it's abundantly clear that crypto is here to stay, so I won't be spending much time commenting on its increasing adoption. I'll just include some notable links here:
  
  • Walmart has begun hosting Bitcoin ATMs in the US
  • Ubisoft plans to create its own blockchain games
  • Australia’s largest bank to allow its customers to buy, sell, and hold crypto starting next year

 In other news

• Another day, another member of the elite is caught cheating. This time, it looks like Sen. Richard Burr has been carrying out some sneaky insider trading. A summary:
  • He had material non-public information regarding the economic impact of COVID, and promptly dumped $1.6 million of his stocks in Feb 2020, a week before the market crash.
  • After dumping his stocks, he called his brother-in-law, who then called his stock broker the next minute.
  • The evidence seems pretty convincing, but you never know. People in top positions have a tendency to get away with their crimes.
  • If you still think the existing political/financial system is fair... I've got nothing more for you.

 Something I enjoyed reading

I recently came across this article: Reminiscences of a Strategist.

It's a relatively quick read, but its full of good insights. Best to be savoured with your favourite beverage.

I hope you enjoy it as much as I did.

Thanks for reading, and have a great weekend.

Cheers,
Slowmad

P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com

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