Math On Purchasing Another Megapont Robot
Decided to get another Megapont Robot to secure another WL spot
I did some rambling on this in a past post
And I said I wouldn’t sell, and I wouldn’t buy.
That was a lie
I sold my Wasteland Ape and bought a Robot
The floor price for Robots at the time is <600 STX. When I wrote the last piece, the robot floor was <500 STX. And Wasteland Apes was roughly 60 STX. The price of STX has gone down, the robot’s STX price has stayed consistent, and ETH has gone from $2000 an ETH to $3500 an ETH.
STX/ETH Arbitrage
I saw this play as an arbitrage of the price of STX vs. the cost of ETH. Spending $825 to get a different WL spot plus the 0.05ETH ( $175) means that price is $1000 - which I laid out in my estimation. However, I only need to sell for 0.3 ETH to break even, which would require a 6x.
That’s assuming I don’t sell my robot. After this is over, I bet robots go back down to their 250 STX price range. And if I want, I could shed that extra robot to recover some of the STX I spent.
There is also the fact they teased every KONG would get a BABY KONG on STX
So there could be a WL spot for another one of their NFT projects on STX
There are also MEGA coins to factor in. By buying a robot and getting an additional WL allocation, that is a 2.95 MEGA + 25 MEGA
I have no idea what MEGA will be worth, but it seems like it will have some value in the NFT community.
Past Results Don’t Guarantee Future Returns.
Megapont Apes were 50 STX, and then during the pre-reveal got to 200 STX, so did an immediate 4x. Then I got to where it is now, around 3000 STX, so a 60x.
Megapont Robots (and this is going from memory, so excuse me if I’m wrong) were a free claim if you had an Ape and went to about 250 STX.
I’m assuming that a WL Kong goes to about 0.2 ETH pre-reveal and gets to 1.5 - 3.0 ETH after ~ 1 month.
My posts aren’t financial or legal advice. I'm doing daily journals of my life in crypto.