"I’m not saying if it’s good or bad - I’m just saying it as I see it. $JEWEL on DFK is a great game - I’m heavily invested into it as well. But at $20 per $JEWEL, all you’ll get is a 5x to reach $100 - the same price as $AXS.
On the other hand, $MAGIC is only sitting at $4 - this means that a 5x would only take it to $20, and you’ll get a 25x if it goes to $100. The pumpanomics are there, hence the massive buys we’re seeing now."
Is a bit misleading. The token price is only one factor when evaluating how expensive or not a token is (and therefore the underlying protocol). What matters here is really Token price*Total # tokens = market cap. Market cap is a better proxy for expensive vs inexpensive because it controls for the price / token and looks at total value captured by the ecosystem. Magic, as of writing sits at 1billion dollar of fully diluted value, meaning that if all the tokens were unlocked and circulating at today's price, the ecosystem would be worth $1b. Now we can compare that to other similar project's market caps like Jewel. Jewel as of writing is a 9.2 billion dollar market cap. I think that argument is stronger!!! Though, I will admit, Bridgeworld is not fully functioning yet.
Hey great post! FWIW, this part where you say:
"I’m not saying if it’s good or bad - I’m just saying it as I see it. $JEWEL on DFK is a great game - I’m heavily invested into it as well. But at $20 per $JEWEL, all you’ll get is a 5x to reach $100 - the same price as $AXS.
On the other hand, $MAGIC is only sitting at $4 - this means that a 5x would only take it to $20, and you’ll get a 25x if it goes to $100. The pumpanomics are there, hence the massive buys we’re seeing now."
Is a bit misleading. The token price is only one factor when evaluating how expensive or not a token is (and therefore the underlying protocol). What matters here is really Token price*Total # tokens = market cap. Market cap is a better proxy for expensive vs inexpensive because it controls for the price / token and looks at total value captured by the ecosystem. Magic, as of writing sits at 1billion dollar of fully diluted value, meaning that if all the tokens were unlocked and circulating at today's price, the ecosystem would be worth $1b. Now we can compare that to other similar project's market caps like Jewel. Jewel as of writing is a 9.2 billion dollar market cap. I think that argument is stronger!!! Though, I will admit, Bridgeworld is not fully functioning yet.
Thanks again for the post! Love it!
Time to bring this back around.... 🧠🤏🏻