1/ An investigation into how the influencer Crypto Rover ghosted a project he was paid to promote, mislead followers about his trading positions, and also his shills for pump and dump meme coins.
Yuga announcement summary👇
Yuga sold hundreds of millions of dollars worth of virtual land that came with very specific resources, items and even characters.
Now it doesn’t plan to build a game as the market is too competitive. Instead it’s out to compete with Roblox with user generated content.
Anybody that has followed Roblox knows the challenges its faced with infinitely more capital and experience than Yuga.
I’ll assume that to create a game within Otherside you’ll need a deed. But it’s very ambitious to think that 200k of these deeds will be needed.
So the market for deeds will be essentially commoditized and driven to near zero. A far cry from the $30k or so most minted for, when you include the $100m gas war.
There will likely be some general lobby in Otherside where you can just hang out in character. But why would people do this regularly instead of just chat in Discord? I feel like thst novelty will wear off quick.
Even Roblox has found that once kids turn like double digit age they’re not hanging in virtual lobbies anymore. That topped out during the pandemic.
It’s also very buggy in Roblox which has spent many years and billions of dollars on development. So imagine peak Otherside.
Yuga is relying on its community to build the games. Seems like a far cry from what the expectations were.
Certainly I thought a AAA game was in the cards and Yuga having the resources to pull it off, it was somewhat exciting.
But now I’m pretty convinced this will be a very long road. Years and years before we see anything of substance in Otherside. That is, if the plug isn’t pulled by then and another privot is announced.
I’m sure that Yuga is wishing it never went down the metaverse gaming road. It had a model that made sense right from mint.
A web3 Soho House. The network of IRL clubhouses was a very cool concept that resonated with the community from day 1.
Quite a shame it transformed into a VC wishing well. I suppose thst ApeCoin was the only way the investors could cash out.
And the token was a natural fit for a universe. All of this executed on a whim. Remarkable really. Hard pass for me rn from an unemotional profit seeking trader pov.
$PALM - You should actually try the app. You'd understand why it's going vertical. Upload an image and ask it questions about it. Probably the most useful thing I've seen in a long time. It'll identify parts, species, location, etc.
Yuga Labs has acquired @PROOF_XYZ, which includes PROOF Collective, @Moonbirds, Mythics, @oddities_xyz, and @Grails exhibition series.
For more information, see the official Yuga News blog:
https://t.co/ly3fTYxCBk
About @yugalabs acquiring PROOF and Moonbirds:
The general opinion I'm seeing is "this doesn't make sense", and that's a very valid thought. Yuga has already been going through a hard time with rebuilding community sentiment, making some entry level mistakes and creating value for their existing projects and now they just took on another project with 5+ collections.
IMO this is part of their long-term strategy with their metaverse plans, Otherside, and becoming the Disney of Web3. Moonbirds is a proven brand that took some wrong turns, but this can easily be recovered under new leadership going into a bull market. Moonbirds also has massive IP potential, which they will likely pursue heavily.
Accumulate many top IPs in the space and then utilize them through future products and new ventures. I have a feeling Yuga is going much bigger than expected.
Narrative trading can be an effective strategy to make a lot of money💰
But you must learn from Gigabrains that know how to do it🧠
Here are the Top 10 Narrative trading threads/tips🧵
@Zeneca In Australia we don't give tips usually. I sometimes do on UberEats or ordering pizza but that's it. Never been expected to give one though. Most will decline a tip actually