GTA 6 Includes Crypto and NFT's???
The Daily Alpha 6/28- Happy Tuesday everyone! If you are into NFT's and aren't interacting with everyone you can on Twitter you are missing a golden opportunity. The space is still so small and young, it's a completely flat hierarchy. You can go online and interact with the biggest names in the space. Networking like this will be impossible in 5 years time. Let's get to the Alpha-
🔥GTA 6 Rumored to Include Cryptocurrencies
🔥Gossamer Seed Begins Reveal
👀Project I'm Watching: Moonbirds Oddities
The unbelievably hyped land parcels for Yuga’s upcoming metaverse continues to pump to new June highs. The talk across Twitter is surrounding the upcoming tech demo on July 16th, the first voyage. Anticipation for the demo combined with continued mystery around the land resources keeps Otherside the main topic of conversation among NFT holders.
I’ve talked before about how I was a seller of the lands immediately after mint, which turned out to be a great trade. I’m still relatively bearish even at these prices. First, the supply is set to double in the upcoming months. The current supply of 100,000 is already incredibly high, but will reach a Sandbox matching 200,000 soon enough. You have to think if even a fraction of this additional supply hits the market it’ll send floor prices cratering.
I’m also bearish at these prices because I just don’t believe we’ll be seeing a full playable version of the game any time soon. Quality video game experiences take years to finish. Bored Apes only launched a year ago. You have to think development on a metaverse has only been going on for a few months. Hype cycles will go up and down, and I believe over the next few years hype can go way lower than this. Lastly, I just don’t believe the P2E model works. I believe a lot of people are expecting to make money off their resources. I don’t believe the economics of P2E will allow 200,000 plots of land to be profitable. I’m staying pat at this point.
GTA 6 RUMORED TO INCLUDE BITCOIN
Recent leaks surrounding the global phenomenon video game series suggests GTA 6 will support cryptocurrencies and other blockchain functionality. Multiple cryptos will be supported, including Bitcoin for rewards and Rockstar coins for the in game stock exchange. This would be an absolute boon for Bitcoin and crypto, onboarding millions of players from the most popular entertainment platform in world history.
It seems as if GTA and the crypto space has been on a crash course for a while now. When discussing hypothetical metaverses, many refer to GTA Online as the ideal model for building an online world that includes digital ownership. Making the assets in the game truly decentralized would take the immersion of their online experience a step further. Imagine having true ownership over your assets in Grand Theft Auto. It seems a like a natural fit.
I’ve long hypothesized the gamer and crypto communities aren’t as overlapped as people think. If you go into any article on the largest video game media website (IGN) and click on a crypto or NFT article you’ll see a tremendous amount of FUD in the comment section. The mainstream gamer simply hasn’t embraced decentralized assets yet. This could be a big step forward towards that adoption.
GOSSAMER BEGINS REVEAL
BRON Studios has started the reveal of their genesis NFT- the Gossamer Seed. The Seed is the first NFT in the Gossamer universe, an upcoming MMORPG backed by the massively popular multimedia studio. The Seed has revealed to be a moth which will act as a mount in the new game.
For the same reasons I’m hesitant about Otherside I’m a little hesitant here. Video games, especially AAA level MMORPG’s take years and hundreds of millions of dollars to create. What intrigues me though about Gossamer is the fact a major established studio is behind this. They have the resources and also marketing power to create a lot of noise about this project. Another part that intrigues me is the cost basis reduction opportunities. BRON promises continued airdrops and new assets for this genesis seed collection. At only a .4 ETH floor, there might be several ways to lower that cost basis with other assets. I’m potentially looking for an entrance if prices dip further.
Project I’m Watching: Moonbirds Oddities
Moonbirds has always been a project I’ve been intrigued by. I’ve never been a holder but I really like their approach when it comes to anticipation. You never know what will be dropped to you next, you just know something is coming. This kind of anticipation is what I believe sends floor prices much higher. The first drop for Moonbirds was Oddities. A collection of what appears to be bird poop. In the next few weeks Oddities will reveal to….something. Not many people know what this collection will be, but there’s a lot of rumors around what the utility might be.
I’m not a holder of the collection but I’m really curious on how Kevin Rose executes here. Oddities is a companion collection to a companion collection of Proof Pass. How will he be able to provide utility to a third tear collection? A potential disappointment could send Moonbirds prices tumbling. In that scenario I’d be looking to make my first entry into the collection.