NFT God Newsletter - The Daily Alpha 5/16/22

The Daily Alpha 5/16- Happy Monday everyone! Hope you've set a good tone for the rest of the week today. I always try to push myself a little more on Monday's to try to build some momentum. Let's get into it:

Volumes hits yearly low

Opensea hit a yearly low yesterday with 35 million dollars of volume. Just as a reminder, volume was close to $200k on Moonbirds release day. This is by far a low point and an indication this market is drying up quick. Macroeconomics continue to pound risk on assets. My investment thesis continues not to change, I'm only making the highest conviction of plays and selling off anything I don't plan on holding for years. I've moved a good amount of my ETH into fiat and preparing to deploy it into lower risk dividend stocks. I’m also preparing for some other smaller plays like selling cash secured puts on long term tech stocks and covered calls (sidenote if you’re a stock or options investor I’m happy to chat anytime ;) )

CPG Reveals

CPG POP from Chris Cantino revealed yesterday to incredibly unique art. I talked about this project a good amount over the last few days as I was concerned some of the decisions made by the creators would cause concern and FUD in its community channels. Well it turned out to be 100% true, as the floor price moved down from 3.6 to 1.6 ETH. At these levels I am watching price action to potentially make a move. The project is being built around the concept of web 3 building and entrepreneurship with a community filled with industry influencers, I find this to be an intriguing play at the moment. I'd only buy if you are looking to get into a community where you plan on being highly engaged, this isn't your standard Alpha Chat, this is a community trying to be something more. Prices have been volatile so I'd avoid if you plan on doing a quick flip.

CryptoPunks one of few projects moving up

CryptoPunks is one of the only floors moving up during this bear run. My meta has changed over the past month as I'm focused a little more on brands that can grow just on their IP, and aren't dependent on airdrops and ponzi tokens. I don’t believe these Ponzi airdrops and tokens will hold any value in a deep bear market like the one we are facing at the moment. CryptoPunks are one of the rare few brands that have grown in price despite having not airdropped any free money to users. If CryptoPunks are within your budget I see these as a safe bet for NFT's. Almost like the gold of NFT’s

Project I’m Watching: Dooplicator

Doodles is a brand that I see as doing things the right way. They’ve built value completely through their brand and community, not free bribes to users. After being out for much longer than most projects, they have released their first partner collection, The Dooplicator. What I like about this is this isn't a partner collection with triple the size of the original collection, they match 1:1 with the original collection. A lot of projects have made the mistake of air dropping massive partner collections that have diluted their brands. Doodles is trying to keep the collections exclusive by keeping the supply small and only giving it to original holders. Doodles is one of those rare brands that have grown organically. I think they have an incredibly strong IP that can be leveraged a lot of different ways, whether it’s merch or IRL experiences. Could be a cheap way to get into the ecosystem. They are releasing content and doing the reveal during NFT NYC, it will be interesting to see how this ties into their larger ecosystem. BAYC has showed their cards as a video game, you have to imagine the Dooplicator will reveal the Doodles hand.