Disclosure: Delphi Ventures has a relationship with Immutable, the company behind Gods Unchained. Members of our team also hold Gods Unchained cards. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase Gods Unchained cards or any other asset. This is not investment advice.

With the upcoming launch of ImmutableX just around the corner, coupled with elevated interest in the NFT market in general, we felt it was a good time to finally analyze Gods Unchained (“GU”). Coincidentally, life has recently started to return to the GU universe. For context, over the past 12-18 months the market has been extremely depressed, despite being one of the first crypto games to leverage NFTs on Ethereum. Trading has only become more difficult as gas prices have soared. The majority of cards are worth less than $100 and transaction costs can mak

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