Why does the cryptocurrency OMI keep crashing even though VeVe, the NFT platform that makes up all of the activity on OMI, seems to be doing better every single month and has some of the best licensing deals in the NFT space (Superman, Ghostbusters, Cartoon Network)?
It's easy to simply say that the world hasn't realized the potential yet, but in this video I dig deeper and find some really surprising insights about how much OMI actually benefits from VeVe's popularity (not as much as you think). I also discuss my favorite and least favorite way of investing in the growth of VeVe, which does have potential in my opinion.
For those that haven't heard of these terms before, here's the simple intro:
VeVe - a new app that allows you to buy digital collectibles aka NFTs and which draws from some of the best licensing deals in the NFT space today. They also have a fun augmented reality feature that people tend to like.
Ecomi - the company that is primarily known for the creation of the VeVe platform.
OMI – the cryptocurrency that runs everything on the VeVe platform and for most people this is the preferred way of investing in the growth of the VeVe app.
And the bull thesis for why people invest in OMI goes like this:
1) VeVe is a great NFT platform that will have huge demand in the coming years.
2) More NFTs bought on VeVE = more OMI burned = more OMI buy backs.
3) The value of remaining OMI coins goes up because buybacks make it deflationary.
But as you'll see in the video, I don't believe point #2 works out as well as people think, and I point to Netflix as a company that can give us clues about how to think about #1.
I also compare OMI to Ethereum, which in my opinion is a better currency to use as a "bet" on the NFT space in general given how many developers are building on that chain.
If you're investing in the NFT and social token space you should consider subscribing as I plan to cover major projects every week from the angle of someone who used to be a stock analyst on Wall Street and who spent years helping hedge funds invest in digital economies.
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Google sheet used in the video:
docs.google.com/spreadsheets/d/1KdVxXal4Gg8KURVIygpP7cXg6IL9b55U6Pgf7Jw0pxs/edit?usp=sharing
0:00 Intro
1:42 what you need to know about VeVe/OMI/Ecomi
2:30 why do people buy OMI?
3:44 the OMI bull case
4:12 about those buybacks...
5:01 sales and buyback forecast
6:28 can OMI ever go to the moon?
8:11 "but I'm in it for the long run"
8:34 The Netflix Dilemma
10:34 about Ecomi's licenses...
12:08 is the VeVe-verse possible?
13:21 how to make money with VeVe
14:37 buying NFTs vs buying OMI
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