Seedify - Issue #72
In this newsletter, we are profiling Seedify [SFUND]. In previous newsletters, we have profiled Bitcoin, Cardano, Stablecoins, Uniswap, and many others. Access all our newsletters in our archives at madcapx.substack.com.
The Short of It
Put together initial game offerings, NFT offerings, and staking and you get Seedify. Made for game developers to connect with investors. Ranked #473 on CoinMarketCap. Like most of the crypto market, SFUND is currently in a bear trend.
Seedify was created by Levent Cem Aydan and launched in 2021 as an incubator and launchpad for blockchain games. The platform allows crowdfunding of games via curated Initial Game Offerings (IGOs). It is part of the play-to-earn revolution of the gaming and crypto industry.
Their token, SFUND, is a Binance Smartchain BEP20 token. It has a maximum supply of 100,000,000 and acts as a governance token that allows holders to vote on project proposals as well as crucial issues in the ecosystem proportionally. You can learn more about this in their whitepaper. Holders can also stake it. SFUND was allocated as follows:
10% initial marketing & development
7% initial community rewards
6% initial fund pool
2% initial operations pool
9% to liquidity mining programs
16% team & founder reserve
50% funding pool reserve
Game developers interested in making blockchain games can apply for IGO funding and get access to custom fungible tokens to use as in-game currency and NFTs to prove ownership of in-game assets. Seedify will also assist developers with marketing and community building.
There are already over sixty IGOs that have been completed, with nine more currently upcoming. To participate in the funding of an IGO, it is required to go through KYC verification according to their own countries' associated laws and regulations. You then determine which of the nine tiers of the IGO you want to contribute to, ranging from 250 SFUND for tier 1 to 100K SFUND for tier 9. It is a requirement to stake your funds in order to participate in an IGO. Participants also get a certain quantity of the IGOs game tokens before anybody else. To see the complete list of games, visit https://launchpad.seedify.fund/.
Being a young and dynamic platform in the GameFi universe, Seedify stands an excellent chance to become the model for other launchpads if they continue to focus on quality interfaces and a steady growth pace.
SFUND/USDT pairing started trading in June 2021 at an opening price of $1.56, with a short-lived price spike on the first day. A month later, SFUND bottomed at $0.28 and from there went into a bullish trend upwards to $17.95, a gain of 5933%. Since December 2021, the price has come back to the opening price of $1.56 as of today. The low for 2022 is $1.18.
SFUND can be traded on Kucoin (highest volume in the last 24 hours), Gate.io, and Pancakeswap and has recently been added to Huobi and Bybit.
In this next image, you can see some metrics for the token, such as the average price in the last 30 days at $2.13. Though, I am not sure why someone would compare SFUND with BTC when there is no comparison between the two.
The Other Trend Lines
Bitcoin has lost over 60% since peaking at $69,000. With a low of $26,700 hit in early May and nine weeks of red weekly candles, BTC has been ripe for a green weekly. In the history of Bitcoin, there have not been this many red candles in a row. There are some opinions that the low is not yet in. In the chart, you will see the two grey lines of support of $28,900 that is holding so far. The next is $19,700 and then $11,900 as a yellow line. The yellow for some would seem too low, but for long-term holders, it presents a “sell everything” moment and jump all in. This bear trend in BTC has been disastrous for many altcoins, including many we have profiled.
The following chart is from a TradingView user. For traders it is important to analyze on your own and then look at other viewpoints before entering into a trade.
Here at about $30,600, BTC has hit a resistance area. Look for a breakout and a retest.
Another chart from a TradingView user, this one is showing a correction before we continue the bear trend down. Though also, note that a market bottom will happen, and it is when many are predicting much lower lows. Similar to a bull market when 100k was such a sure bet for BTC in 2021.
My exception is BTC will kiss 33k area as a Wave C PRZ, after that Wave 5 will start by the 23k as a main target. Don’t forget we are in a down trend so we name each up as a correction.
This portfolio section gives you an idea of what sort of return you can get when investing in crypto assets.
BTC/USD FUND is up 184% since October 1st, 2020. Since this is a long-term holding, it is best kept in cold wallet storage or a safe custody solution. We continue to see a long-term hold position as our best stable alternative. This past week bitcoin has been ranging between $28,019 and $30,931 USD in value.
FUND 3 started on November 16, 2020, with $1000 USD in value and was invested into BTC, LTC, ETH, and ADA. The total amount of BTC value from the four coins has had a gain of 45% since the start. The USD fund value is up 165% since the beginning. We will hold these positions to see how well it does against our BTC-only portfolio. LTC is down -49% against BTC. ETH is up 128% against BTC since the start. ADA has a gain of 181% against BTC and 407% to USD.
BLWX Fund started on February 22, 2021. They all are assets we have profiled in the last few months, and we are interested in how they will perform in 2021 against BTC. BAT has a gain of 26% against BTC since the start; LINK is down -58%, WAVES is up 11%, and XMR is up 53%. Overall, against BTC, the fund is up 8% and down -39% against USD.
Overall, Bitcoin should be your first choice as an investment in crypto, though many digital assets can give you amazing gains if you manage your risk. As a long-term investor, we see it as our largest portfolio investment. If you are a day trader, there are many great assets to put on your watch list. Look through our previous newsletters to find some.
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MadCapX research newsletter is written by the Madbyte Team. You can learn more about Madbyte and MadCapX on our websites.
Madbyte does have its own token called MADX on the Fantom and Ethereum networks and under the symbol Madbyte on the Waves network. The tokens are interchangeable on Madcapx.com.
Disclaimer: Nothing in this newsletter is intended to serve as financial advice. Therefore, do your own research and due diligence before applying any of the techniques highlighted in this post. Any risks or trades based on this newsletter are committed at your own risk.