2022 Investment Trends, Evaluating Tokenomics, & Much More

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Happy Sunday!

In our final full week of publishing for 2021, our writers have compiled some of their best work yet. Let’s jump to it.

The primary trends I’m investing in next year

Evan Armstrong / Napkin Math

Rather than looking back at 2021, Evan is looking forward to his investing themes for next year. In this brief article, he reveals his 2022 predictions ranging from the coming newsletter winter, to the role inflation might play in changing SaaS GTM motions, to his bull case for Web3 services. You also can read to the end to see why he is considering dropping $10K into OlympusDAO. (Disclaimer: This is not financial advice, but even if it was, Evan would tell you himself that it's almost certainly bad advice.)

Read.

Tokenomics 101: The Basics of Evaluating Cryptocurrencies

Nat Eliason / Almanack

When evaluating the economics of a crypto project, analysts typically employ the two classic tools of the financial inquiry—supply and demand. Nat would like to formally and publicly argue that you should also evaluate the quality of their memes. For this week’s Almanack, he addresses one of his reader’s most frequent questions: how to evaluate the viability of a crypto project’s incentive design (more easily known as Tokenomics). Read the full article to understand how to weigh supply and demand control, as well as the uniquely powerful effect of belief that determines the success or failure of cryptocurrencies.

Read.

Is Axie Infinity a Ponzi Scheme?

Nathan Baschez & Ryan Broderick / Divinations

This week Nathan teamed up with friend of Every Ryan Broderick (who also has a really great technology newsletter called Garbage Day) to tackle the complexity that is Axie Infinity. Axie is a “Play-to-Earn” video game that rewards players for in-game actions with cold, hard, highly-unstable-in-value crypto tokens that you can then turn into much more stable-in-value cash. Its tokenomics are questionable, and Nathan argues that it closely resembles a Ponzi scheme. And maybe it is! But is a Ponzi scheme still a Ponzi scheme if everyone involved knows about it? Or is the financial chaos just part of the fun?

Read.