Immutable 🤝 @0xPolygon
We are joining forces in an industry-defining partnership to accelerate the development and adoption of web3 gaming. The future of gaming begins today with the announcement of the Immutable zkEVM, powered by Polygon.
https://t.co/7FEyidsydV
Been thinking about a simple explanation/theory of why private market multiples are higher than public market multiples right now. Sometimes extremes better illustrate a point:
If, hypothetically, 30-year treasuries were paying 20% tomorrow, trillions of capital in public equity would immediately flow into treasuries.
However in the same scenario, no dollars would flow out from private equity to treasuries because of illiquidity at the company level and blind pool commitments at the fund level - it can’t flow out.
Public equity multiples would absolutely crater because capital would leave. Private equity multiples would become more “disciplined” but not crater because the amount of capital in the asset class would be the same.
To a lesser degree, that’s why in a rising rate environment right now, we are seeing private market multiples that are higher than public market ones.
Which multiple environment is more correct - public or private? It depends on the rate environment.
If rates are rising, then private market multiples will gradually moderate down towards public multiples over time. If rates are declining, then public market multiples will more quickly moderate up towards private market multiples once that rate path is clear.
Think of the Fed and friends as the system administrators of Western fiat economies.
With the press of a key they can seize, freeze, create, or inflate any fiat asset.
But they can’t do that to Bitcoin.
It’s outside their control.
Instead, it’s under your control.
1/ Frens, the next "All Roads Lead to Polygon" Twitter Spaces is on the horizon! 💜🌤
Join us as we chat w/ @0xPolygonLabs ecosystem projects about the @Immutable partnership, #zkEVM mainnet beta launch, & more! 🗣
🗓 Episode 2: March 24, 11:00 AM EST
🔔 https://t.co/i1mPsFKxBQ
Our knowledge base is a great source of information for all things #Loopring💙
Having trouble figuring out how to set up a new Taiko testnet wallet within your Loopring Smart Wallet? Or how to get + send (test) tokens to it?
We've got you covered👇
➡️https://t.co/R0Y8FDwff0
Immutable + Polygon received nearly $2B USD in funding on games building in our ecosystem *last year* alone.
With this partnership, Ethereum becomes the new home for gaming - and devs can focus on shipping games to users with incredible UX, not their choice of technology stack.
The leading gaming platform + the leading scaling protocol = the default home of Web3 Gaming.
Developer choice is now easy.
We are in the endgame - and devs can finally focus on what’s most important: making fun games.
Wait until the market realizes 95% of contracts are settled for cash and they call them in for delivery.. and get bags of rocks.
JPM should be held criminally liable.
Introducing the first set of Immutable Games committed to building on Immutable zkEVM:
✅ @shardbound_game
✅ Infinite Victory
✅ @playmetalcore
The home of web3 gaming is here and we will onboard the next billion users into web3
GameStop Q422 Results:
Net Sales: $2.2B
Cash Flow from Ops: $337M
Net Income: $48M
Cash + Equivalents: $1.39B
LT Debt: negligible
Thanks to everyone on the GameStop team for their continued hard work.
$GME