Deepbook and Sui Ecosystem, TAM of GameFi, Lack of First Mover Advantage | Analyst Round Table
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Consumers are telling you that they like these, like, mainstay titles that have been around forever. The studios that are putting them out, it's like Sony, you know, Nintendo, or to take 2 and Rockstar, Epic Games. So if a game isn't coming out of one of these studios and it's not related to one of these titles, like, from a monetization perspective or from a TAM perspective, which is what gaming folks are often talking about in the crypto space. Like, you don't have that TAM. That's not your TAM. It's Red Dead's TAM. It's Grand Theft Auto's TAM. It's Take 2's TAM. Nothing
said on 0 x Research is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. But, actually, Orion and our guests may hold positions in the company's funds or projects discussed. What's up, guys? Welcome back to another episode of Xerox Research. Today, I'm joined by Ryan, Connor, and Danny from Blockworks Research to talk about all that is happening in and across crypto. What's up, guys? Welcome back. How are you doing? Morning. Bullish. Bullish? Very g
I think there's I have a few thoughts. One, I don't know how sophisticated the thinking is in regards to the trading of this token yet. They had a fairly large airdrop. Right? It would be great if we had some data on, you know, net buying and selling of perhaps, you know, what those airdrops look like as a relative, amount of the circulating supply today. I think that would maybe tell, a little bit deeper of a story. Perhaps participants who have earned that are, you know, using it as a proxy for the SUI ecosystem. Right? And so if they're, you know, expecting you know, SUI has been doing real
was just gonna say, I think a part of it also comes from the fact that there isn't really much to buy on SUI apart from, and then you kinda mentioned this as well, so I'm just repeating your point. There's not much to buy on SUI apart from SUI, as well as some meme coins. So that's the one thing that I should have brought up when I first mentioned it as well. Yeah.
I I think that the problem also like, everyone's looking for, like, high beta exposure to get to this ecosystem that seems to be kinda separating itself from like, when you look in the blockchain landscape, there's, like, 5 chains that are doing stuff, and then the rest are not doing stuff relative. And then, like, SWI seems to be maybe separating itself from the pack. So people want that high beta exposure. I think that the problem is that these DEX tokens historically really disappoint. They don't have, like, a very, like, sustainable, like, value capture moat, like, unlike, you know, a perp
Yeah. I think the other the other factor I'll add is it, like, for airdrop tokens, it's still very early. I mean, we're a week into this token, I think. Obviously, I think the market regime has a lot to do with performance of of brand new tokens like this. You know, if you enter into up only mode, like, in the beginning of this year, for example, you know, the the market can stay irrational longer than you can stay solvent on a short. So, that is something to consider. But, I I think even if you look at, like, Jupe from Solana, I mean, it had a period of of quite insanity early in this year go
I, Ryan, I like that you touched upon aftermath because that's something that I wanted to talk about, but you kinda gave it all away, by talking that you like cross selling. That's yeah. So they're trying to be a one stop shop. LST swaps, aggregator of a
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