Starship Treasury Report May 2022
tl;dr
The crypto market has gotten absolutely hammered. Additionally, game economies are imploding left and right because of unsustainable economics. Despite this, the Starship Treasury has slightly increased in value to $2,007,746, which represents a .4% increase in USD terms and a 57% increase in ETH terms since our initial mint offering
Context
Over the last couple of months the crypto markets have seen absolute carnage, and blockchain gaming is no exception. Asset prices have fallen 50-99% in many games. One of the largest hacks in crypto history occurred to the Ronin bridge, draining $625MM from the axie-verse.
As we’ve written previously, blockchain gaming has important sustainability problems that need to be addressed, and we’ve outlined our own perspective about the future of the industry. This thinking deeply powers how we approach deploying support through the Moonshot Fund, and was one of the core reasons we invested in Invisible College.
Treasury Overview
Despite the gloom of the crypto markets, we’ve managed to outperform Bitcoin and Ethereum significantly since the initial mint closed, with a small gain in USD terms.
In ETH terms we’ve increased the treasury 57%; in BTC terms 34%.
Anecdotally, we’ve also outperformed the majority of the guilds in the market over this time period, many of whom have seen major losses, and some who have had to fully close operations due to the downturns.
Below is a table that breaks down the current guild assets between cash, (fungible) tokens, and NFTs.
Looking Forward
Many people look at the markets right now and they are scared.
But what we see is incredible opportunity. Valuations are much more reasonable. Prices are much more reasonable. Likely, they will get even more reasonable.
We have been thoughtful in how we’ve protected and deployed capital so far. And now we have the great opportunity to make generational defining moves.
If you’d like to learn more about what we’re working on, we invite you to join our Telegram and Discord, where we post regular updates.
Additionally, there will be an AMA Friday May 3rd at 1PM Pacific Time on our Twitter Spaces.