A few hardcore @steemmonsters fans may have noticed that I have recently acquired some Alpha Gold Foil Lightning Dragons.
Here is what happened last week: @goldmatters/buying-2-alpha-gold-foil-legendary-lightining-dragons-lucky-mene-box
Today I bought another.
Let me explain my rationale behind doing so.
When evaluating an investment candidate there are a few things I look for.
Within the context of ‘investment’ let me first be clear that I am classifying this position as a highly aggressive SPECULATIVE investment.
With a speculation, you must fully accept the possibility of it going to 0. While I don’t think that will happen this case, if it did, it would not be completely outside of my expectations because I have already mentally prepared for that possibility.
To be honest, I would classify STEEM the same way.
So that takes care of the downside. Potential catastrophic losses to 0.
What kind of nutjob is prepared to buy into a speculation that he thinks there is even a 1% chance that could go to zero?
Just because I think it CAN go to zero, doesn’t mean I think it WILL.
So here are the reasons I bought so many Lightning Dragons:
ASSET CLASSFICATION:
*I consider this a lateral move. Steem monsters can be considered akin to another crypto. So trading BTC or STEEM for a Steemmonster to me is a very similar classification of speculation.
SCARCITY:
*The Lightning Dragons I purchased are the most rare card in the game. Currently there are only 19 of them. Even if I were to get diluted by new LD’s being spawned from unopened booster packs, they would like still be the most rare in the game.
INSIDER OWNERSHIP:
*Last I checked co founder @aggroed also owned some LD’s. He has staked a material amount of his personal wealth into SM. This means he has what is called “Skin in the Game.” This is exactly what I would look for if investing into a more traditional asset class. When management has incentive to be directly aligned with their stakeholders, they have every motivation to make the investment successful. Which brings me to:
MANAGEMENT:
- @aggroed and @yabapmatt have proven themselves to be extremely resourceful and continue to execute on this nascent new business. They have accepted and responded to criticism and value their stakeholders. They also have put SWEAT EQUITY into this business. @aggroed has the kind of obsession I want to see in a leader of a new idea. @yabapmatt quit his full time job to do this. I love that sort of passion and guts.
INSIDER OWNERSHIP II
*Both founders continue to stake into the game, putting more money and the only more valuable commodity.... TIME into development. This means there would be significant financial and emotional cost to withdraw or unwind from the game. Because of this it is extremely unlikely they would sell their stakes, especially @aggroed ‘s stake in the gold foil legendaries and even more specifically the LDs. Of course he could choose to sell at any time, but it is doubtful he would under most circumstances, both for the signal it would send and his belief in their future value.
SUPPLY + CORNERING THE MARKET:
*Knowing that alphas cards are never going to be made again is important but not everything. Will the overall supply dilute even the value of the rarest card?
Thats simply a function of supply and demand. If we get more players into the ecosystem, a rising tide will lift all boats. If we dont, see back to my catastrophic scenario.
If we DO and all Steemmonsters go up in value, the ones with the smallest float (tradable supply) are going to go up the most.
ROADMAP
I am happy with the limited roadmap of Steemmonster because I feel like there is a POTENTIAL unique value proposition here with the gold foil only exclusive tournaments.
IN CONCLUSION
You know whats easy?
Breaking something down, critiquing, criticizing.
Sitting in a recliner and saying all the things that are wrong with an idea.
You know whats hard?
Building. Refining. Learning. Making something from nothing.
A great idea is nothing without execution.
Steemmonsters all started with a button:
I love hearing aggroed tell the story of how he imagined his daughter taking a button and throwing it on the ground and then button becoming a monster that fought her battles.
Every time we step into the Steemmonster arena, we are living out Aggroeds dream and yabas execution.
A team who can turn a dream into a reality...
Thats who I want to bet on.
Don’t forget to send me your photos of your Lucky Mene Box helping you find Gold Steemonsters !
Investor Presentation:https://mene.com/investors/docs/Investor_Presentation.pdf
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The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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