Adjusting to Changing Market Conditions
Cost Averaging Treasury Assets
Based on some of the latest developments in the economy, we decided to start moving some USDC to BTC, with cost averaging over a two-year time frame. With new projects coming in, there is a high chance it will play out better than staying in a fiat-equivalent currency. This is no investment advice, please think for yourself and let me know if you have questions.
The current market conditions also mean that it is a good time to spend less, take on projects to increase the treasury, and save up for times when the market slows down again.
Introducing Checks and Balances
To pay closer attention to the proper completion of projects, we now have a “Business Manager“ role with the ability and task to oversee and confirm the creation and completion of projects by project managers. The Creative Director role has also been updated with details about the project onboarding process.
Starting More Projects
Based on our recent inbound conversations, many DeFi projects have successfully raised funds again, despite uncertain product direction, lack of narrative, and absence of a revenue model.
This could be interpreted as the beginning of a bull market cycle for web3 and we keep observing the dynamics. Similar to the last bull market, clients are asking to start as soon as possible, some presenting very short time frames for design.
January so far:
1 Project confirmed and started last week.
1 Project verbally confirmed but canceled on our side due to a lack of capacity for creative direction and too tight timelines for our existing branding process.
1 Project verbally confirmed to start mid-February, currently creating the proposal and need to update our branding process before starting.
2 Projects are about to be completed - brand/web design for Webslinger and alignment workshops and summaries at Gitcoin.
For reference, last year in January we had no client projects at all and spent $3,000 on active outreach:
Creating a Web3 Insights Report
We are aiming to connect with more VCs and help their teams. In order to attract attention we are working on a small report with our insights into the web3 market and share or present it at the conference. You can join our BD-related conversation here.
We are also organizing our Airbnb stay and slowly planning activities, workshops, and events. Join our conversation on TG.
Take care of yourself, remember to sleep, work out, don't eat garbage, and say what's true even if it's hard.