Digital Slowmad newsletter
22 July 2022
Crypto portfolio update
Net return: 568.8%
Comments: The big news of the week centers around the crypto rally led by ETH which rose an impressive 60% in two weeks, presumably on the merge narrative which is scheduled to happen late September.
I didn't FOMO into this rally as I'm not expecting a V-shaped recovery, and I think the chance of a bull market starting just 2 months after the Terra collapse is low.
This said, we are probably not too far away from the bottom of this bear market.
So while I have yet to start deploying capital, I am - in principle - not against DCA-ing at these levels.
My preference, however, is to wait and see how the market reacts to this bounce. If/when I start buying in again, the private group will be the first to know.
Will DeFi Kingdoms rise again?
I've been asked this question in various forms over the past few weeks, and my two cents are as follows:
First, understand that that 'DFK the game' is not the same as 'DFK the investment'; A good game is not necessarily a good investment.
In my view - and I've said this many times before - the only way DFK can become a good investment again is if the core combat feature turns out to be exceptional.
This may seem too obvious to mention, but consider that Jewel went from $1.20 to $20 even with zero gameplay. It's not always just about the game per se.
When the next bull market comes around, Jewel will likely rally alongside the other cryptocurrencies. But based on what I'm seeing right now, I don't think it will outperform.
I hate to say it, but I think the best days of 'DFK the investment' are over. The rare combination of factors that made DFK a superstar investment is no longer present, and is not likely to occur again.
Moving forward, the only catalyst I see for DFK to once again become the investment darling of the industry, is well-designed gameplay.
Personally, I'd love to see something PvP-focused and centered around strategy and chance, similar to how poker works. To beat other players, you need strategy, guts, and luck.
But, this is probably just wishful thinking on my part. For now, I'm just watching how the game develops from afar.
TLDR: I struggle to find good reasons to invest in DFK right now. Things might change when the combat feature is finally released, and it's exceptionally good.
🛵 Digital Nomading
I've started to pen my thoughts about digital nomading.
It's more than just about the novelty of travel, and you can read the first part of it here.
The rest of the article is under construction, and I'll send out an email to everyone on the mailing list when it's done.
🚚 Truck simulator setup
Never wanted to drive a virtual truck so much:
Quote of the week
Addiction is giving up everything for one thing.
Recovery is giving up one thing for everything.
Thanks for reading, and have a great weekend.
P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com
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