I haven't done an update on the SYNERGY Fund in a while, but I discovered something last night and I wanted to write a post about it.
First of all, the value of the SYNERGY fund has been soaring lately, and this is mostly due to LVL tokens. We got in early, and now they have pumped, like A LOT of pump. We are way over 20x from where we started. And this is just the surface level.
I had forgotten that we also got 3 'founder' NFTs, and I went onto NFT showroom last night to check it out.
Now, these NFTs are a pretty big deal. They will unlock future drops for the holders, so I had to really think about this. The issue for the fund is we are now holding way too much value in this one project, and its time to realize some value.
We have listed the Tier 1 Founder NFT for 17,000 HIVE. It is our wish of course that the buyer will be happy, as this is the cheapest one on the market and about half price from buying one of the remaining ones from the @psyberx team (at a cost of 5MM LVL!).
So even if we don't sell it before I change my mind on the price, the fund won't suffer, it'll just get more NFT drops later.
We also have the cheapest level 2 founders NFT on the market - at 9500 HIVE.
Our tier 1 founder NFT is not the cheapest on the market, it is slightly more expensive. We will see what happens with the market for these NFTs, there are hardly very many of them at all - all will depend on the development and deployment of an actual game - with gameplay.
We identified this project early, we gave the founder all the advice we had, seriously a ton of advice - and were very happy that they seemed to listen to all and apply a lot of it to their strategy.
I never cared if the product was white-label - just build something dammit! Third-party packages are made for a reason - let's see if we can get something going with @psyberx - we are along for the ride!
In the mean time, I am thinking its important that we work this single promising project back down to 10% or less of our portfolio value. Taking profits is important so we can find and support the next round of innovators here on HIVE - but we will likely always hold some LVL in the portfolio, even if just for those NFT crate drops.
What will we do with the money if it sells?
Currently the SYNERGY Fund continues to power up HIVE, we are rapidly approaching 30k Hive POWER! If we get an influx of cash, I would also like to consider investing in the ECOBANK presale directly, which would avoid any complicated integration that I was thinking about doing.
I have a few other ideas of what to do with any lose change coming in, but these are the main goals right now. Oh, and hopefully a roadmap update and a new ABV coming soon!
