YGG skyrocketed, at a glance the treasury and market value comparison of three encrypted game guilds

Original post by 0 xscarlettw, Investment Manager @Mint Ventures

Summarize:

• YGG: almost all YGG, less than 4% of current assets;
• Merit Circle treasury balance is the best, stable currency + blue chip, NFT and other game assets are almost half and half;
• GuildFi treasury: Ethereum believers, 1/4 LSD stable income + 9% U + half of GF.

YGG: Almost all YGG, less than 4% of current assets

FDV 269 M, mcap 49 M。

Treasury situation: 203 M YGG, 6.3 M USDT and the rest are ignored.

Market liquidity: Today’s liquidity is particularly good, and the transaction volume is several hundred million, but it has actually shrunk to several million a few months ago.

Comment: The market’s valuation of YGG should be largely based on its brand value, primary investment and users. If you look at the treasury, this fund is too unbalanced… (6.3 M stable currency, YGG worth 203 M, FDV 270 M & mCap 49 M) It is not ruled out that Arkham has a wallet without a tag.

I didn’t see a good summary of YGG’s first level, and I will have time to do it later.

Merit Circle treasury balance is the best, stable currency + blue chips, NFT and other game assets are almost half and half

coingecko: FDV 134 M, mcap 93 M (mcap is basically equal to the total amount of the national treasury).

Treasury situation: 38 M usdt/usdc, 7 M blue chips (wBTC, uni, weth etc.), 3 M NFT, 45 M other game tokens.

Comment: MC should be the most stable treasury fund allocation, with the highest proportion of stable coins (40%), some more evenly distributed blue chips, NFT, first-level (45%) and tradable game tokens (3.9%). The important thing is that its MC/FDV is about 60%, and there is no big selling pressure like YGG (less than 20%).

The value of MC in the treasury is 0.3 M (0.31%), one of the tokens with the least concentrated selling pressure.

The current valuation (mCap) given by the market is in line with MC’s valuation of its own treasury. Since the first-level games invested in may still be discounted in the current market, the actual value may be a little lower.

GuildFi treasury: Ethereum believers, 1/4 LSD stable income + 9% U + half of GF

State treasury (on-chain) (public medium): 41 M GF, 23 M stETH, 8.7 M USDT/USDC

Comment: 1/4 is quite interesting for LSD, Ethereum believer.jpg

Medium avoids talking about lmao because most of the liquid assets are its own GF, but the market cap also shows that the market still has some points for it. But the market cap also shows that the market still counts for this. But mCap <stables+stETH，还是有点低估了。