Proof of Excitement
Maybe proof of bubble
There are a lot of cool ideas floating in the crypto space. Smart contracts, zk-snarks, quadratic voting, non fungible tokens, lending pools, stable coins.
In the next posts I'll try to distill the most recent and promising whitepapers and point to some "reasonable asymmetric bets" (Subscribe to receive the updates). With that I mean tokens and projects that could return 10x in a few years. I think the crypto market will go down when the the interest rates rise, but there will be nonetheless great opportunities for the patient investor.
But today I'll just run an experiment.
Try to come up with words, any word. Then prepend or append "coin", “NFT” or "token" to that word and Google it.
These are the words that came up to me:
park => coinpark.com: it's a digital assets trading platform
box => nftboxes.io: amazing NFTs every month
fun => fun token: online gambling token of some sort
mark=> coinmarks.io: used to be an exchange
pickle => pickle.finance: "Pickle Finance helps users to maximize their DeFi yields by auto-compounding their rewards, saving them time and gas"
car => not found
sand => sandbox.game: SAND token for the Sandbox “ecosystem”
coyote => coyote.ai: Blockchain analysis company
burp => coinburp.com: Crypto exchange, I kid you not.
tree => cointree.com: Australian crypto exchange
rope => ropesolana.com: A next gen ecosystem apparently. "$ROPE is a full-scale decentralized ecosystem that brings the well known "market volatility index" to the crypto market”
duck => duckdao.io: "Who will win? A VC or a thousand ducks?". Can't make this up.
Some of these are obvious scams, but some are legit recent projects with big teams.
I probably biased it for short words, which of course work much better. Anyhow, this should give us a sense of how big and wild the crypto space is right now.
NFTs especially are very frothy right now.
When you start seeing crypto ads on billboards in New York or in the London underground, you might be in a bubble: