Too many alpha groups, not enough alpha?
Are we oversaturated with alpha groups? Or are alpha groups really just the friends we made along the way?
joshyote ✌️👽
October 19, 2022
gm ✌️
The NFT community has gotten tighter over the last few months, there is no doubt of that. We all seem to be in on the same jokes — and the same projects.
That leads me to question the role of alpha groups. Are we oversaturated with alpha groups? Or are alpha groups really just the friends we made along the way?
This week's top collections by volume:
ENS is back on top and all is right in the world — sort of, except for that stuff going on. We also saw some serious movement from Genuine Undead and Nyolings. It looked like Nyolings was going to take off big time for a second. Regardless, there are still buyers out there!
Too many alpha groups, not enough alpha?
With a smaller number of traders and projects in the NFT space, alpha groups are left questioning their place in the ecosystem. After all, if every animal in the jungle is an alpha, everyone starves.
A morsel of alpha
So when a new project is preparing to drop, the same alpha gets passed along the grapevine to almost all of the alpha groups. At that point, it's barely even alpha anymore. And besides that, for any project with the smallest amount of hype, there are likely thousands of botters ready to pounce.
So what's the point?
The state of elite alpha groups
It's no secret that we're in a down market, but how have the elite alpha groups like PROOF, Admit One, and Origins faired?
Across the board, membership passes to elite alpha groups and down at least 50% — and that is just in ETH, it doesn't factor in the drop in ETH price from ATHs when these passes were pumping.
That said, these groups have by no means faded away. They have shown that having a community of builders and traders is the best way to thrive in the bear. And while pass prices have gone down, the desire to join these groups remains.
Community
Much like the topic we covered last week, community is what drives NFT value, and the value of the alpha groups we join. So find your group, hunker down, and enjoy the ride.
And if you have anything to contribute, please do!
This alpha group is giving THE ALPHA today ✊🏻
— freightrain 〰️ (@the_freightrain)
Oct 17, 2022
Get Schooled on ENS Domains
Grab your ENS before some weirdo locks it up until 2050.
Ethereum Name Service (ENS) is a decentralized system for resolving blockchain addresses.
— icy.tools - NFT Tracking & Alerts (@icy_tools)
Oct 19, 2022
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