I'm making a call on the market. Let it be known that I don't have a crystal ball and I'm not afraid to be wrong. So I could be dead wrong. But I'm sick of these crypto traders who hedge their asses and basically come up with analysis that says "well, it could go up or down."
If you're just now finding out about the rise of Axie Infinity and the NFT gaming revolution that came with it, stop. Take a deep breath. Most importantly, get your hands out of your pocketbook. You missed it.
Yea, you missed the pump. Doesn't mean you missed the movement — just means that if you get in now, you'll be buying a local top. Money from the initial excitement of NFT gaming is going to flow out into the next hot sector. And when it flows out, it flows. We're talking 50-75% dumps on coins. That's not even good to hold, because dumps like that will put a sour taste in your mouth and make you sell just to get rid of all of the red on your screen.
If you get a sour taste, then you will really miss the opportunity, because you won't be around when NFT gaming comes back.
How do I know this will happen and is happening now? I've been through this cycle enough to know this is how crypto works. I was also around for the initial defi summer wave. Tezos still hasn't recovered its $5 high from that pump.
If you look back in my blog history, you'll see me pumping up this old project Binance Punks.
Binance Punks was a shameless copy of the seminal project Cryptopunks — the first (really second after Cryptokitties) NFT project that showed NFTs could be taken seriously as fine art. Cryptopunks were selling for hundreds of ETH. I didn't get any, so I thought I could get in on Binance Punks and make a killing while the NFT craze was still hot.
Long story short, I didn't make a killing. That shit project was fuckin garbage. Thing was, I really bought into the arguments people were having about Binance Punks on Twitter. I bought in on the tail end of a hype wave and I was coping — folks were using lame arguments about changing the nature of intellectual property rights as reason to keep giving Binance Punks energy. Money flowed out of the NFT art market, and the price of Binance Punks tanked just like everything else. But since Binance Punks were a shit copy, they tanked more than everything else. There was no legitimate reason that could justify those silly things holding any type of value.
The same thing is happening with NFT gaming. All of these Axie Infinity clones are popping up everywhere, most of them just as shameless as Binance Punks. Fuckin Binemon? WTF? And even games with a bit of leverage are overplaying their hand. Plants vs. Undead is selling land for $15k. Fuckin Embersword, which fucked up its initial land sale like rookies, still wants your ass to buy guild plots for $80,000 USD. To give some perspective, you can still get in on Axie Infinity land play for like $8,000, and Axie is far and away the proven leader in this field. Why the fuck would you pay 2X to 10X for land in a game that doesn't even have a fuckin alpha launch?
If you got in early on something like Cryptoblades, I'll give you some leeway. Why? Cryptoblades was building way before gamer summer hit. I remember seeing the first SKILL LP months ago and passing on it because the game looked like shit. It still looks and plays like shit, by the way. Nowhere near the gameplay of Axie or Revomon, and still it has a huge player base. Games like that better build quick or risk losing their hype. I don't hold out a lot of hope for stuff like that, although I may be missing something because I'm not in on the card RPG scene. Bottom line is you have time here. Better to wait and see if the game can build before you ape in at the start hopin and copin.
But there is a positive for all of these hype waves — they bring awareness. Even folks like me who breathe crypto 24/7 miss a ton of stuff. I can't believe I missed Fear, a project that is fusing horror and play to earn gaming. I'm so excited for that I seriously can't wait, and I would have never known about it if not for this gaming hype wave. What I do is earmark projects like that and purchase their tokens during the lull. The trick is you must have a longer attention span than the average person, which can be difficult in crypto. But if you do, you can make a ton of money and get in a really good position for projects you want to support long term.
Bottom line, don't blow you whole stack on game tokens right now. I promise they'll still be around in 3 months, and likely on sale at that. Earmark projects you want to follow and just lurk for a while. Buy in when prices are dumping. Thank me later.
In the meantime, would love to hear what you think the next hype wave will be. Back to defi, or on to DAOs? It's time now to get in early on those things, make some cash, and cycle back into games. Hopefully all these shit clones and garbage projects will be weeded out by then.
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YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Why you should buy your Tesla (and everything else) in BTC ---> Why You Should Buy Tesla With Bitcoin
Find out why Chainlink 2.0 is a problem for your freedom ---> Why Chainlink Will Kill Crypto
Why Hexicans/Pulsechain Fags are Pieces of Fucking Shit ---> The Problem with the Hex and Pulsechain Community
