Public Releases

In it for the tech

It was a week of historic firsts in cryptoland.

First, Dylan Field sold a CryptoPunk of a pipe-smoking alien for 4,200 ETH ($7.5M), setting a record for the highest-priced digital collectible. Of course, the record only lasted for a matter of hours. The next day Beeple made history by selling an NFT for $69.3M. The sum is more than ever paid for a Frida Kahlo, Salvador Dalí, or Paul Gauguin. ​​

The eye-popping price tags have forced the art world—and the world as a whole—to pay attention to NFTs. However, if you’ve read our client-only report on the NFT ecosystem, fine art is just the beginning. Arguably, even more exciting possibilities lie ahead in gaming and virtual worlds. We continued coverage here this week with an analysis on ImmutableX’s Gods Unchained NFT cards (more below).

We also published fresh deep-dives on Polkadot, Brave’s BAT token, and Rari Capital. Here are the highlights from this week at Delphi:


 

 

 

 


BAT Has My Attention by Alex Gedevani



The Return of Gods Unchained by Guest Analyst Coalie Bee and Medio Demarco

Key Takeaways:

  • The current state of decentralized gaming is defined by high gas costs, depressed prices, low volume and extremely thin order books.
  • With the introduction of ImmutableX, which promises to remove gas costs and dramatically improve liquidity, it’s very likely that this situation will change. Thin order books will be eaten into quickly and asset prices could multiply in short order, with significant uptakes in volume and liquidity overall.
  • Delphi Daily subscribers & clients can see the full brief here.


Rari Revs Up by John Jimin Noh

 


Key Takeaways:

  • Rari Capital has seen impressive growth during this DeFi bull market, with its token, RGT, up ~49x YTD. Speculators are banking on Rari’s ability to quickly develop and ship products.
  • There are also three new important products under development – Fuse, Tanks and Nova – which we discuss in detail.
  • Delphi Daily subscribers & clients can see the full brief here.


M
acro 101 by Kevin Kelly

Key Takeaways:

  • Kevin Kelly sat down with Nathaniel Whittemore (aka “NLW”) of The Breakdown to talk through some of the foundational concepts of macro investing, The Federal Reserve, and the impact of Fed policy on crypto.
  • Listen to the discussion here, and Delphi Daily subscribers can read additional notes here.

 


What’s Up With Polkadot? by Ashwath Balakrishnan

Key Takeaways:
  • In November 2020, Polkadot was one of the hottest new things in crypto as the network launched and the DOT token went live. At the time, we released a report explaining the core value proposition of Polkadot and highlighted a few marquee projects building on the network.
  • Rococo, a Polkadot testnet for parachains, was launched in December 2020 and has over 20 parachains connected. This testnet uses a lite version of the Cross Chain Message Passing (XCMP) protocol, which is how parachains talk to each other. So far, the testnet has been successful
  • ​​​​Acala Network and HydraDX, two leading Polkadot DeFi projects, announced that they were able to use the XCMP protocol on testnet to complete a token transfer between the two blockchains. This is promising as it shows the XCMP protocol works, but one could argue that there’s no substitute for testing in real world conditions (i.e. on mainnet).
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A Killer 14+ Person Expert Panel on Non-Fungible Tokens (NFTs)

 Nicolas Julia: SoRare’s Shot On Goal

 

 

 

As mentioned, we will continue to iterate on the design of our Delphi Debrief based on your feedback—so please let us know which section you enjoy the most and what else you’d like to see!

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