Recurring market commentary on what’s happening in the crypto markets, summarized by the Crypto Broker team at Crypto Finance AG.
Market commentary
Good Morning!
This weekend was all about gaming and the Metaverse for me. On the gaming front, I was trying to get my head around the math of the mini-game score on Star Atlas.
Star Atlas mini-game
The hype was big, but only because people did not read the whitepaper or the announcement about what exactly the mini-game would be. In the first phase of the mini-game, you can stake your NFTs (only the ships) and earn ATLAS (the in-game currency). Each ship has a different yield. But it follows the initial offering price, so the higher the price of the ship, the higher the yield.
However, there is a catch. To be able to deploy your ship (stake it) you need to prepare it with food, fuel, ammunition, and repair toolkits. You can buy these things at the marketplace with ATLAS. When you deploy your ship, your food stock, fuel, ammunition, and repair toolkits decrease. There is no easy way to calculate the net yield of your fleet. You need to prepare some Google Sheets calculations to figure out what you will earn. An example of a Google Sheets calculation is here.
Now, you can probably see why many "gamers" were pretty disappointed by the first phase of the game. There is nothing for them to do. It's all boring economics and calculations (which I love by the way...). Maybe you remember my first commentary about Star Atlas, where I also mentioned the economic paper of the game.
Other developments in the Metaverse
Let us now move on to some more fun topics. Adidas launched their metaverse NFT drop of 30,000 pieces. Obviously, I did not get any at the drop, or at the early access sale that took place on December 14th (most of the NFTs went to well-programmed bots).
I bought my GMONEY NFT on OpenSea in the secondary market. I also joined the discord channel since I wanted to figure out what the NFT can unlock for me. Disappointingly, there is not much info out there. There is a great deal of speculation, though, on the discord chats (including a scam that went around Friday / Saturday - never accept any direct messages on discord if you do not know the person). I'll keep you posted if I figure out what I can do with my GMONEY NFT.
Have a good week, and Happy Holidays!
All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.
Disclaimer
This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.
Risk disclosure
Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.
