Lessgo,
At the end of the last newsletter, I mentioned that there was a “bug” in Merge that I would follow-up on. This “bug” was a malfunction in the Merge smart contract that caused secondary sales not to merge correctly; therefore, sales were stopped, the contract was corrected, and now everything is back up and running. Correcting this “bug” took a couple weeks and caused some turmoil in the Pak community. Additionally, the expected ASH drops got delayed.
With the choppy rollout of Merge and the delayed drops the overall prices for Pak’s collections have dropped ~10-20%. Even though prices in crypto have also dropped NFTs sales volume have skyrocketed over the past couple weeks. I believe that the pullback in Pak’s collections will be short-term; however, this is another reminder that this space can be unpredictable and we are still very early.
In other news, we learned that Pak will be releasing some sort of NFT collection in collaboration with Julian Assange:
This is definitely a surprising collaboration and one I personally do not support due to the questionable character of Julian Assange. Here are a few comments from Pak responding to some concerns from the community:
So it has been an eventful start of 2022 and I anticipate a lot more to come over the next few weeks. I will leave you with the purchases we have made since the last newsletter and some links to other news you may be interested in.
Purchases
122.946 ASH - 1 ETH (~$3.8k)
149.947 ASH - 1 ETH (~$3.8k)
We now have a total ASH 670.801 ASH with an average cost of $37.5/ASH. This purchase of ASH was to dollar-cost average our basis because the price has continued to drop. Pak has confirmed that their next drop will be an ASH exclusive drop, which should bring up the price. Additionally, there is growing group of creators that are releasing ASH only projects.
3 “Pages” - Average cost 0.29ETH (~1.1K/Page)
I covered the strategy of buying pages in the last newsletter and continued to pickup more as the price has fallen below the mint price. It is likely we will buy more pages if they continue to decrease in price.
Miscellaneous Links:
Lessgo!