What a year 2022 has been!
A lot of highs. A lot of lows.
... but mostly lows lol.
I regrettably did not include a prediction of what would happen this year like I previously did in 2021. Part of this was because I sensed a crash coming but didn't want to accept the reality of calling it and looking stupid.
You can imagine how dumb I feel for not publicly stating that opinion. Definitely will not happen again.
In January I'll release my 2023 prediction so there is no ambiguity where I stand on the market.
So let's talk about 2022...
As far as research articles go, we covered 16 individual projects this year - all with varied results due to the volatile market.
In my personal trading, the biggest wins came from quick flips - mainly of airdrops. Holding any of these too long would have resulted in underwater bags at present day prices.
Let's see how we did.
• Articles written: 33
• YouTube Videos/Livestreams: 72
3 biggest W's
My biggest wins of 2022 were all airdrops. The key? Sell airdrops quickly while there are still buyers because all tend to bleed out over time.
Almost zero mints produced positive returns this year besides a handful of projects people could get into for free and some pump & dump degen plays. You have to be extremely selective which projects you buy into during a bear market.
3 biggest L's
1. Ape-In Productions
2. FCF Ballerz
There is a common mistake in the L's I took this year - timing.
Ape-In Productions is a project I have lost almost all confidence in. They haven't done a great job adding value to their community and haven't communicated well either. To add to that, music NFTs still haven't taken off. There is nothing going for AIP at the moment and the floor price has reflected that.
I still believe FCF and RTFKT buys will age well in the long run, however it is clear that the timing on these purchases were awful.
End of Year Rankings
This is where I would rank each project we covered from this year.
I feel comfortable saying Otherside and Proof Collective belong in the A tier. Both have comfy backstops (Yuga Labs & Kevin Rose) with a history of innovative thinking.
RTFKT and Doodles have issues of their own which have relegated them to the B tier. Poor execution from RTFKT. Communication issues with Doodles. If they can fix these issues it could easily boost them into the A tier. Both also get knocked down for being heavily VC backed which hasn't turned out great for any NFT project this year.
It's hard to rank the art projects (Murakami Flowers & Hedz) because they never promised any utility but I feel comfortable placing them in the B category. Murakami Flowers is slightly ahead of Hedz because there have been airdrops, free clothes, and a free handheld game all delivered to holders throughout the year. I expect some sort of mint/airdrop for Hedz holders in 2023 but wouldn't expect the volume of rewards to be anywhere near what Murakami Flower holders receive.
C tier includes projects that I believe have fallen out of relevancy but still have an opportunity to succeed. Sandbox, Jenkins, & Goblintown all got hurt by the collapse of interest in the Metaverse. Jenkins is especially concerning to me because of the horrific PFPs they initially dropped. There's really no excuse for something like that from a team that is allegedly in sync with web3 culture. I got the ick from the Jenkins community after their PFP reveal but at least they're working to make things right.
FCF is in a weird situation because it's only active during 2-3 months of the year. Word to the wise, try not to buy these during the season because the prices absolutely tank in the offseason when they can't be used.
D-tier is projects that have completely lost relevancy.
What to expect from ApeWell in 2023?
There are 2 goals I have for ApeWell in 2023
1. Grow our video content
2. Launch our first Web3 music artist
Growing our YouTube channel will allow us to monetize our content and start bringing on advertisers and marketing partners. Giving ApeWell a "web2" revenue stream that isn't dependent on NFT sales will help us get to the point where we can provide rewards for community contributions.
I am still trying to find the right balance between research articles and YouTube videos so one of my goals is to find another contributor(s) so we can be firing on all cylinders.
Launching our first Web3 music artist is something I've been working on in the background almost the entirety of 2022. We've partnered with a badass rapper who will essentially become ApeWell's in-house vocalist. The dude has 50k monthly listeners and millions of Spotify plays which is exactly what we need to make a splash in the music NFT scene.
Myself and our community of music producers will be able to contribute beats for him to rap over.
Our community of artists can contribute their work for the NFT cover art.
Combining these 3 areas and splitting the revenue between each contributing party is the end goal here - essentially turning ApeWell into a next-gen record label.
As a community, we will collectively build the IP of this musician behind Mutant Ape #5727.
That's all the info I can give out right now but we have some really exciting things ahead of us as a community! I appreciate everyone who's stuck around throughout the bear market and hope to continue delivering as much value back to the community as possible.
Have a great New Year everybody. Cheers!