See You in Cabanatuan!
On Dec 11th, YGG Pilipinas is heading back to where the Axie Infinity phenomenon began. We’ll be hosting a 3-hour meet-and-greet at the second level of the SM City Garden Park in Cabanatuan City, so if you want to meet Gabby, Kookoo, Nate, Shanks, Spraky, and Sedano, please come and hang out! Show starts at 5pm, but I expect that we’ll be around about an hour before then. We’ve got tons of prizes to give away, including some axies, some YGG merchandise, and a few exclusive invitations to our private dinner after the event. I’ll be working the production side on this one, so if you spot someone wearing a black shirt, a YGG medallion, and an increasingly panicked look on his face, that’s probably me.
This event is the first sizeable meet-and-greet we’ve done so far, and we will continue this throughout 2022 as health protocols allow. If you’re an axie player or manager in a provincial city, please tell us about your community there and we’ll plan out an event in your area in the coming months!
I wish I had a better market report to share with everyone, but we’re in the same deep red territory as we were last Friday, which makes me think that we’re going to see the Bitcoin stock-to-flow (S2F) model finally fall out of favor this year. If you don’t know what S2F is, it’s this extremely popular financial model that attempts to forecast the Bitcoin price over several years. It originally predicted a $135,000 Bitcoin price before the end of 2021, but this has since been adjusted downwards to $100,000. Many Bitcoiners swear by the S2F model, to the point where it’s become part of the standard sales pitch for newbies. It’s always looked like quasi-academic b.s. to me, so it’ll be good to get some definitive data that invalidates it once and for all.
If you’re wondering what’s causing this late-year dump, a lot of the analysis is pointing to macro global events like the Evergrande and Kaisa defaults in China. This is causing mass liquidations across the traditional markets, and it’s having a domino effect on the highly-leveraged parts of the crypto markets as well. The crypto industry is doing well overall (see the recent SkyMavis dev update, as a primary example), but there’s just too many negative externalities right now. About three years ago, I cartooned a pretty massive late-year dump with this Nightmare Before Christmas parody, and surprisingly, the cartoon works even better now. (It’s available as a 1/1 NFT on my Makersplace page for any Cryptopop completionists out there.)
See you all in Cabanatuan, cryptofam!