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- NFT God Newsletter - The Daily Alpha 6/4/22
NFT God Newsletter - The Daily Alpha 6/4/22
The Daily Alpha 6/4- Morning everyone! Sorry you haven't heard from me in a week, I've been moving from one part of Brooklyn to another and it's been a really hectic experience. I've finally settled into my new digs and am very excited to be writing for you again. Let's get into the alpha!
Mystery is the most powerful force in NFT’s. Mystery creates FOMO and emotions that drive noise and volume. Revealing your projects hand can be one of the biggest mistakes you make. Here’s some projects that have used the element of mystery to perfection 👇🧵
— NFT God (@NFT_GOD)
7:53 PM • Jun 3, 2022
Goblin derivatives everywhere
Everyone is trying to get their bite of the Goblin trend. At one point today 8 of the top 15 projects on Opensea were Goblintown derivatives. It’s pretty incredible how multiple projects with under a 0.1 floor price has enough volume to get to the top of the NFT charts. I think all this Goblin mania goes to show there is still plenty of liquidity in NFT’s, it’s just waiting on the sidelines. People want to get back in, they’re just a little spooked at the moment. For me this is a bullish sign for the NFT market long term. A sharp downturn didn’t scare people away from the technology, it just got them waiting on the sidelines. This has me a little more confident keeping a decent amount of ETH waiting to get back in eventually.
Cool Cats pivots
After getting as high as a 25 ETH floor, Cool Cats has been going through some tough times. A long delayed and disappointing launch of their web game has led to a monumental collapse, going as low as a 3 ETH floor. I have a lot of theories around why this collapse happened, mostly because by releasing a game with tokenomics you pin the value of the project to the coin, and NFT coins rarely are anything more than a disguised Ponzi. Well today Cool Cats has pivoted, hinting at a new cast of characters to be introduced. This is an interesting move, as it clearly hints there’s more to the CC universe than the pets and game. What this does in my opinion is add a new element of mystery to the universe, showing that there are more cards in their hand than what’s been released so far. I think this is a great move honestly, I believe projects showing all their cards are a mistake. A healthy dose of mystery and speculation are good for hype and social media noise. I’m not a buyer at 4 ETH in this market but if you’ve been watching Cool Cats for a while I see this pivot as a bullish sign.
ETH breaking lower
After steadily climbing for several days ETH has broken lower under $1800, a bull trap I saw coming from miles away. Nothing ever goes straight down, there’s always two directions, but I wouldn’t be surprised if ETH keeps going lower. There has been no break in the macroeconomic headwinds going on in the market right now. I’m waiting on just one trend to reverse. This will most likely be inflation ticking down one month. I wouldn’t be surprised if a relief rally happens on this news. If your time horizon is super long term I don’t see anything wrong with nibbling here, but if you’re looking to go all in, I think there’s a lot more room to go down.
Projects I’m Watching: Projects with no Discord
One marketing tactic I really liked that Goblintown pulled was having no Discord. I think this really worked in their favor when it came to driving noise. The community was forced to create noise on social media rather than in a private chat room. By forcing holders onto Twitter, and then setting the tone for the project through Spaces, it really created a strong community that was forming in front of the entire NFT space. I truly believe this was a large reason for the exponential growth the project experienced. From here on out I’ll be looking for projects that leverage this strategy. This tactic combined with sharp marketing strategies could lead to really high growth. The marketing meta in NFT’s are constantly changing, these are the types of micro trends you need to be looking for.
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