The death of P2E?

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Last night was a bit rough for me. I can't say why, but for some reason it was hitting me harder than usual that our dog Jovi is gone. I should have known better, but for some reason I keep thinking back to her last moments with us. I took some photos in those minutes, I'm not sure I will ever share them here, but it was nice to see her so at peace and free from pain.

Damn, I miss her.

But that's got nothing to do with finance or play to earn, it's just where my head is at right now.

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It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the community.

Olympic Payday

No, I'm not talking about the absolute corruption tied to the Olympic selection committee. With the Olympic Summer games just around the corner, I thought it might be fun to dig into the medals and find out exactly what they are made of. According to the Sporting News back in 2022, this is the breakdown:

• Olympic gold medals only contain about six grams of gold (in the form of plating). The rest is at least 92.5 percent silver
• Olympic silver medals are 100 percent silver
• Finally, bronze medals are red brass which is 95% copper and five percent zinc

Also according to the article, the last fully gold medal was given out back in 1912. It would appear the idea of giving people less for the same amount is a long standing tradition!

WUF

Remember that WUFFI token I told you about that was an airdrop for WAX token and NFT holders? It's been doing the sort of things that meme coins do lately with the price surprising many people. In fact, projects have started to integrate the WUF token into their mechanics and the price is actually holding pretty steady.

I took some moderate gains and then I moved the rest into a liquidity pool that is earning me about a million WUF per day as well as some WAX and USDT. There seems to be spurts where people are actively swapping and when those periods hit, the rewards are obviously higher.

I only hold about .32% of the one pool, so I am just making pocket change at this point, but once we are fully in bull season, it could pay off.

P2E Projects Running Scared

I wrote this post yesterday about one of my new favorite cards in Splinterlands and some of the concerns people have with the direction the game is heading. It elicited a really great response from @brucegryllis about P2E and how the world really isn't ready for it yet even though it seems like it has been around for a while now.

All of this hit home last night when I read about another NFT P2E project I had a stake in that is in the process of "reworking" their game to hopefully avoid "regulatory concerns". The project started on WAX and expanded out to Solana and that's where the real issues came into play I think. Despite that, this is the third or fourth project I have seen recently either close up shop or totally rework their project because they are afraid of the hammer coming down on them.

It's interesting to see that even though we think we have come a long way with the whole blockchain gaming and play to earn thing, we still have a long way to go. There's a good chance it won't look anything like what we have become used to today.

Retik

I know, I should just let this rug die and move on, but for some reason I am having fun just waiting to see what happens with it. I talked about it back on Wednesday in that post. I'm don't expect to ever see my money, but man there are some people who have so much blind faith in this thing. They have to know in the back of their heads they got scammed, they just won't admit it to themselves yet.

I started my own Telegram group where people can talk openly about the project without fear of getting banned. In the official telegram they have a bot that seems to trigger on specific keywords like scam, rug, and "renq". Interesting that last one huh? I was talking to another investor in my telegram and they said their investigation is leading them to believe that the team behind Retik was also the team behind some other scams including RenQ.

My thinking was why would they let it drag on this long if they were going to rug. It all comes down to culpability. If they act like they are actually working on it, then a "bad actor" comes along and steals the funds, they don't look as bad when they start up the next scam. Rinse and repeat.

I'm 99% sure I am not going to earn anything on this token, but I plan on following it to the end as a social experiment because at this point I am intrigued and I think it will serve as a good reminder to myself to DYOR.

Holozing

I'm hesitant to mention this, but it appears delegations to the Holozing account have fallen off lately (which means more ZING for me). I've been getting close to 1500 ZING per day in rewards to claim. I mentioned before I am past the point of selling my ZING. The price has dropped low enough that now I am accumulating for the game to launch. I've got a target in mind of 500K ZING. Then at that point I will adjust my delegations.

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Sports Talk Social - @bozz.sports

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All pictures/screenshots taken by myself or @mrsbozz unless otherwise sourced