Research Summary
The report from Ouroboros Research discusses two key catalysts in the crypto investment landscape: the surge of GameFi announcements from November to December 2023, and Ribbon Finance’s tokenomics revamp, which involves converting its token from RBN to AEVO. The report also provides potential trade ideas and factors to watch out for in relation to these catalysts.
Key Takeaways
GameFi Season
- Flurry of GameFi Announcements: The report highlights several GameFi catalysts from November to December 2023, including Aurory’s Seekers of Tokane alpha release, Rollbit’s Duel Arena launch, Illuvium’s Beta 3: PVP launch, and STEPN’s Gas Hero community testing. The potential inclusion of crypto in GTA VI could also reprice the entire GameFi sector upward.
- Potential Trade Ideas: The report suggests going long on GameFi names into GTA VI’s trailer release, and tracking active users on games that have been released. The report advises building conviction/positions when metrics are trending well.
RBN / AEVO Conversion
- Ribbon Finance’s Tokenomics Revamp: Ribbon Finance is set to convert its RBN token to AEVO in January 2024. The conversion will be at a 1:1 exchange rate to sAEVO (staked AEVO), which will be locked for 3 months. Major investors and team members will have to re-vest locked tokens for a year.
- Potential Trade Idea: The report suggests going long on RBN into the conversion, as the conversion of RBN into sAEVO will mean a substantial portion of the liquid supply of AEVO will be locked up for 3 months. This could result in a high market cap given the low float and result in RBN being repriced upwards.
Actionable Insights
- Monitor GameFi Developments: Keep an eye on the GameFi sector, particularly the games mentioned in the report, for potential growth opportunities. The release of GTA VI’s trailer and its potential mention of crypto could significantly impact the GameFi sector.
- Track RBN / AEVO Conversion: Follow the conversion of RBN to AEVO closely, as it could lead to a repricing of RBN. Pay attention to the conversion ratio and airdrop distribution.
- Assess Game Traction: Evaluate the traction of newly released games in the GameFi sector. Building positions when metrics are trending well could be beneficial.
