I definitely think the crypto market takes a drop in the summer. It was highlighted in a spaces this week and the more I think about it, the more sense it makes. It definitely happened last year. The changes to Twitter (X) have had a massive impact on the feelings coming from within the space too. There is a sentiment of resentment and backs against a corner. It's interesting and I am choosing to be excited rather than resentful, for as many reasons as I can find.
Why is the Crypto market slower in summer? Lots of reasons. CryptoCasino said in a spaces that the big players, the market movers and shakers, are on their yachts. It is summer after all and they aren't focusing on making money from crypto right now, they want their good times. The retail market will always be quiet in a northern hemisphere summer. The vast majority of people live in the northern hemisphere and they are outside. Schools are shut so parents spend more time with their families.
Is this summer worse? It's difficult to tell. Last summer was hard but the turmoil going on was fresh in our minds and oil prices were sky rocketing. A lot of the world was experiencing a 'free' summer for the first time in 2 years and people were wrapped up in that. We did see Eth hit $900 for a moment last June. Maybe it was worse. It feels tough right now, that's for sure. Last summer was my first full crypto summer and my mind was still distracted by things away from this space.
The tech market is still struggling, it hasn't really recovered as a sector following a huge amount of job losses starting early in 2022. The main crypto social platform is undergoing swift and drastic change. It is very easy to let resentment seep in without realising. I certainly did earlier in July. I understand why and I have implemented things to make sure it doesn't continue to happen.
I've accepted where I am at. I know more than I knew at the beginning of July. I have a few things that I want, and need, to chase up. I have organised my calendar and have regular down time booked in for me. These have been massive positive steps for me. So has Twitter (X). I have attacked the platform to build my understanding of it and I will share a little of that in this Blog. That's been exciting, tiring and hard work, but I've found the enjoyment in that.
As well as working hard I have been remembering to have fun and join in with things that I like doing. The importance of smiles should never be underestimated, frivolity is good. I use the example of young people playing golf. They don't care if they just missed the ball, when they swing the next time, they just want to hit that one to the moon!
I have spoken with Chris about Goonz, Sandbox is a massive priority for us. GoonzWarz will likely be forever in stasis but hopefully remains playable in it's current state. The first part of our story is nearly there, I am asking someone to illustrate it with AI! We would also love to make it into an e-book. CartridgePunkz needs that same call, Matty and I have threatened to do this several times, now we need to actually get it done. I have spoken with my team at Polygon Alliance. And when this month is done I am hopeful to implement some next steps. One of our aims is to work out how can we offer our charity event knowledge and create more regular articles.
I have had to pick up and deal with some tasks that I would rather not this year. I have a couple more to go. Being accountable is massive in a space where so few are. I understand that right now it may not always be financially beneficial to be accountable and honest, but I am a firm believer that in the long run it will stand out that myself, and those around me, want to make this industry more than just a playground!
Not only have I had to do this in regards to the FCancer roll up mint and DrippyBullz. I've had to do it in my real life too (this is my real life but you know what I mean - my non NFT life). Tough decisions that I have had to make have impacted me, my family and my friends. This is unavoidable given some of the situations, but it doesn't make it easier.
I talk about core values. My core people values are focused on care, compassion, consideration, empathy, kindness, love and trust. I believe being accountable and honest wraps into all of these and strengthens them at the same time. One of the key aspects of that is communication. I may not always communicate as well as I can, but I am always open to communication and I try to resolve situations by communicating wherever I can.
Playing with my X... I am not sure that's something anyone should do! There are so many puns and I just cannot help myself, I'm not even sorry. The point is supposed to be about the platform as a whole but it is easy to get distracted. And that is a very pertinent point regarding X, or Twitter, at the moment. There have been big changes to the algorithm, to prepare for some of the changes Elon has said he wants to introduce to the platform.
This is a summary of some thoughts regarding that and then a little insight into how I am using it as a platform, not an in depth article on my findings. The first and one of the most important things is understanding the goals of the platform. Any social media's end goal is to keep you on their platform, that is how they drive revenue and therefore have a sustainable business model. The next step is to gain an understanding of how they do that.
Once you have some knowledge about the platform and understand how they are aiming to achieve their goals you have market insight and some important decisions to make regarding your aims, goals and values. What these aims, goals and values are and how important is it to achieve them on X? If you want people to spend their time, energy or money on you on X then you have to focus on using the platform for that, not as a social platform.
I have shared some more in depth thoughts on that specific aspect of X above and I have had some very positive feedback about that article. To take ownership of your account, your feed and where you are shown will require commitment, dedication and effort. If you want to use X as your social media platform then your expectations need to be that only the people that you regularly interact with, will see you.
I have decide that I am going to have a little more fun with X as a rule. Pun's, some occasional trolling of influencer posts, share my thoughts and continue building my brand. In line with that, you will see less far reposts from me, I will be clearing out the people I follow and I will be playing the algorithm game. I firmly believe we used to be able to beat the algorithm. The last few months have shown me that is getting harder and harder to do, and requires a much more focused and collaborative effort than we can muster right now.
Elon's longer term goal is for this to be a platform to be a platform where we can all do anything (or EVERYTHING) internet related. It's interesting and I am excited I am in the middle of it, you should be too. Video content is going to be a thing, the audible versions of my blog are a starting point and there are plans for other things, but they all take time and a level of commitment I don't know if I have yet.
I thing Summertime Market Blues for Crypto and NFT's is definitely a thing, the changes to our main platforms don't help and the changes within our market create uncertainty too. Focus on supporting like minded people and yourself, it will be important. And make sure you add my BlogCast to your Spotify!
Thank you for reading my thoughts and remember, we choose our own outcomes in regards to feelings and perception. Choose a positive one for you. Mindset matters. Have an awesome week, all being well, catch you on Friday!
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