🧵 I joined Multicoin's monthly LP call a few days ago. I debated whether to write this post because I've been a loyal investor for many years in both their hedge fund and venture fund. This is a summary of the key takeaways from the call and why I will likely be redeeming
Just sold an apartment generating zero yield for ETH. Looking for some digital real estate, blue-chip NFTs, or solid blockchain projects. What do you recommend frens?
I finally received my Nov investor statement from Multicoin Capital. Over the past 11 months the hedge fund is down a whopping 90%, and they’re still holding a bag of toxic shit. Time to close the fund down guys? Oh, and congrats on barely outperforming your benchmark $SOL 🙄
🧵(1/5) I am a creditor to
#3AC
and an investor in
@StarryNight_Cap
managed by
@Vince_Van_Dough
. Feel free to follow me to get updates on the liquidation process and for insights along the way. Grab some popcorn and a beverage - the coming months are going to be interesting
Just swept the
@OnChainMonkey
Karma floor. Giving away these 5 monkeys in 48 hours. All you have to do is:
🍌 Follow me
🍌 Follow
@realkarmacoin
🍌 Tag 3 friends to share good karma
hey web3, here are my comments on the feedback
"doodles isn't an NFT project"
this is true. but what’s also true is i've dedicated my career to the blockchain. i'll never abandon the pursuit of delivering the promises of this tech to the world. doodles started as an NFT
I am pleased to share that we have exceeded our fundraising target of $100m and officially closed our Web 3.0 focused fund. Here are our thoughts and the sort of companies we are looking to fund 🧵
Whoa
@pacmoon_
won the Blast jackpot for a second time. Holding THE ultimate memecoin on Blast is really paying off. Can it win the jackpot for a third time? $PAC
Have you seen lots of content creators and influencers tweet about earning juicy $PAC airdrops and Blast Gold? Well as it turns out, you don't need to be a whale to do well. Season 4 is still ongoing and this is how it works:
1) Earn $PAC for tweeting about
@pacmoon_
2)
I am excited to join the
@nounsdao
community with today’s purchase of Noun 65. Within 2 months of launch, Nouns DAO has already amassed 8728 Eth in its treasury (currently worth $31 million). Learn more at .
🧵The
#WENTokyo
Manifesto:
I have been in TradFi long enough to know why we needed to pivot to DeFi, and now I’ve been in CeFi/DeFi/NFTs long enough to know why things need to change.
Those who know me will know that my favorite NFT trait is a crown. At the recommendation of my friend
@mooncat2878
, I've just placed a bid for 14.69e. Let's hope that the seller accepts my offer....
@Nakamigos
After going down the rabbit hole a few months ago and buying 39 Mooncats, I finally decided to purchase a Pure Black Genesis. Out of 96 genesis mooncats, there are only 12 pure black. Thanks
@mooncat2878
for brokering the deal. 160eth was cheap for such a rare cat!
@ponderware
I’ve been patiently waiting for my K3 reveal since buying a celestial cake 11 month ago, and now it’s time to rock the ultimate PFP
@OnChainMonkey
#NewProfilePic
Gm. I’m pleased to share that my collection is now complete (for now). I have assembled one of every fur type for a total of 19 furs. I don’t think I have a favorite…. Which is the favorite from your collection?
@OnChainMonkey
Roughly 10% of the fund's AUM was on FTX, which means an additional 45% loss was from the rest of their portfolio, which is mainly from their irresponsibly long position in $SOL
My largest conviction play this year was
@OnChainMonkey
. I have 73 Genesis monkeys and 235 karmas, including one of every fur type. If you want to learn more, jump into the discord and you won’t find a more friendly, helpful and value driven community anywhere.
!RISE for 2023
NFT God makes some relevant points. With NFTs, visible founders, marketing reach and hype are important for short term gains. But how many projects can sustain that for a year or multiple years? At that point, the team needs to execute, not just market 🧵
They said they are the largest investors in the fund and remain committed to making back investors' money. They said the management company is cash flow positive even after the massive drawdown. This suggests management fees are too high and managers can get rich off these fees
KarmaCards Free Mint is LIVE! I will be giving away 5 free
@OnChainMonkey
Karma monkeys to 5 people who retweet, tag 3 friends, and are following me and
@realkarmacoin
after 72 hours when mint ends. Let’s go!
𝐊𝐚𝐫𝐦𝐚𝐂𝐚𝐫𝐝𝐬 𝐅𝐫𝐞𝐞 𝐌𝐢𝐧𝐭 𝐈𝐬 𝐋𝐈𝐕𝐄! 🔥
💳 4 Tiers.
1️⃣ 1 mint per wallet address.
⏰ 72 Hours.
💵 Your tier will be assigned based on your $KARMA balance at a snapshot taken shortly before the reveal on Monday
Alpha. Access. KarmaCards.
Mint details below 👇
I believe Multicoin has been reckless in their management of the fund, they did not act quickly enough when the shit hit the fan, and they publicly affiliated themselves and openly supported 2 massive frauds SBF and FTX
Choice was to take $1.4 million off the table or lock for 12 months? What did I do? 💎🤲🏼
@Treasure_DAO
team are incredible builders and the community is extraordinary. This gravy train is just getting started. I can’t wait to see what else is coming 🚀🚀
The Multicoin hedge fund is down 55% this month alone. This assumes all assets held on FTX are written to zero (which frankly won't be far from the actual recovery value now that the extent of SBF's fraud has come to light).
I've just seen the list of creditors to
#3AC
and noticed that
@zhusu
has filed a claim for $5 million. While being on the run, he has somehow found the time to diligently and ruthlessly fill out forms to pursue a claim against his own Fund.
🧵(1/5) I am a creditor to
#3AC
and an investor in
@StarryNight_Cap
managed by
@Vince_Van_Dough
. Feel free to follow me to get updates on the liquidation process and for insights along the way. Grab some popcorn and a beverage - the coming months are going to be interesting
Quick note to share that I’m in touch with the
@SolMediaTech
devs and they will shortly be launching an onchain tool for
#KarmaCard
holders to receive their $MEDIA airdrop.
The alpha is that the snapshot for eligibility has not been taken yet so if you don’t own a KarmaCard you
The call was full of cope and justification for their actions and decisions, and frankly there was little remorse for the losses that they have incurred. Frankly it was painful to listen to
There are so many things I am excited about with
@OnChainMonkey
1. Core values that I resonate with so much (Respect, Integrity, Sustainability, and Enrichment - RISE)
2. An extraordinary community of individuals who are amazing in so many ways
3. A team of builders and
Congrats to
@DrSoldmanGachs
on completing his 100th OCM Set and 5th Super Set 🔥
Soldman has been a pillar in the OCM family since he joined. Every community needs their apex collector and Soldman is ours. He has the Ultimate PFP and is the Ultimate Collector ⚡️
His wallet is
I am psyched to share that I just acquired an
@OnChainMonkey
celestial Karma! Do you think this was a fair trade? 40e + 6 K2s + 3 donuts + 12 icepops. Thanks
@sellitalldoteth
for the trade.
My favorite NFT trait is gold fur, and I’m glad to add a Gold
@moonbirds
to join my collection of Gold
@OnChainMonkey
. Moonbirds is about to follow in OCM’s footsteps to become the second fully on-chain PFP collection, with 100% of the metadata stored on-chain. Moonbirds 🤝 OCM
However they didn't address their strategy of holding irresponsibly large and concentrated positions in coins like $SOL, which was the much larger drag on performance than the FTX debacle.
It was a no-brainer to increase my $MAGIC stack to over 500k in order to qualify for the extra rewards. 3x Harvester parts and 1x Shrouded Tesseract. Sounds mysterious 👀. I’ve been asked what I am most excited for in 2022? It’s
@Treasure_DAO
For those wondering, the $KARMA drop is coming soon. We are distributing to 60k+ addresses in the largest fungible token in Bitcoin history, coincidentally on the day that King Bitcoin is making multi-year highs. May the mempool gods be friendly.
@realkarmacoin
I just acquired The Harvest
#274
by
@perkwerk_
at the recommendation of my friend
@ArtOnInternet
. I missed the Artblocks mint and have been waiting patiently for the right piece to become available. I love this palette - there are only 16 in total and none are currently for sale.
While y'all are buying up overpriced shitcoins on Solana, I'm loading up on $SMOL. I own 1.75% of the token supply now. With the latest Ethereum Dencun upgrade, fees on Arbitrum are cheap as chips. I'm expecting memecoin activity to migrate to Ethereum L2s.
@smolverse
@smol_coin
They charged massive performance fees in previous years which is why they are the largest investors in the fund. If they decide to wind down the fund they get to walk away with this (btw this is standard in the industry)
Did you know that
@OnChainMonkey
was coded into existence in a single on-chain transaction? Each monkey was dynamically generated via smart contract and rarities were determined probabilistically. I took a look at my own collection today to see which rare items I own 🧵
It's time for an update regarding the
#3ACliquidation
process. The liquidators presented its first report to the creditors of Three Arrow Capital, Ltd ("3AC") on August 25. This is a summary of the key takeaways from the report plus some personal reflections 🧵
I spent the day researching
#mooncats
and feel strongly this could emerge as a top project. Launched in 2017, it was resuscitated by the original creators
@ponderware
earlier this year. Mooncats are heading to
@Sothebys
this month. Thanks for the inspiration
@NFTmachine
. (1/2)
I found this naked monkey and he was shivering in the cold, and stared at me longingly with his deep green eyes…. So I had to adopt him. Welcome to the fam!
@OnChainMonkey
I finally received a genesis monkey mission reward worth 2.6e! Thank you
@OnChainMonkey
. For all of the recent OCM buyers, don't forget to send your monkeys on a mission for your chance to earn the same. The various rewards are also essential for the next chapter!
Solmedia Becomes First to Integrate Solana and Filecoin on Their Censorship-Resistant Platform. Have you tried out the platform yet? 🚀🚀 $MEDIA
@SolMediaTech
Holy smoke. More than 40,000 addresses have participated in the
@BlasterSwap
early access program. Not too late to join to start earning points! Like and retweet and I'll choose a few people to share some $BLSTR tokens with when it goes live.
I'm excited to share that BlasterSwap is going live soon, and it's built on top of
@Blast_L2
! Anyone who bridged to Blast is eligible to claim.
Join the
@BlasterSwap
Early Access here to instant claim $BLSTR
I am an investor and can vouch for them!
The Fund has a highwater mark which means they have to make back losses before they are able to charge performance fees, but they will continue to charge their management fee on a monthly basis