Treasury Report — June 2022
Introduction
Welcome to the June treasury report! In this report I’ll cover the following:
- New allocations for the month of May
- Metrics across social channels
- Holdings of the treasury
If you’ve more of an interest in learning about Perion’s over-arching strategy, check out the May development update
In line with new procedures I’ll be posting the June development update in ~2–3 weeks, within which I’ll break down strategy/outlooks/tactics rather than performance. Think of the Treasury reports as backward facing and the Development updates as forward facing
New allocations
May was a great month for Perion IC and saw us take a few fantastic positions. Again emphasising we’re looking for projects that will take Web3.0 gaming mainstream. Without further ado:
Gunzilla: Off the grid
($250k NFTs)
Gunzilla: Off the Grid is the first foray into the gaming world from director Neill Blommkamp (District 9, Chappie, Elyisum). OTG is slated to be a fast paced over-the-shouder shooter focussing on 150 person maps, cybernetic implants and fast paced combat. OTG will be the first Web3.0 game launched on consoles (yep!)
The team behind Gunzilla is STACKED. Hosting industry mainstays from the founding Crytek team (Farcry, Crysis), as well as veterans from UBISOFT, Sega and Rockstar. Perion has been allocated $250k worth NFT validators, allowing allowing us to generate revenue from in-game player activity. The NFT validator model is very interesting and is something I’ll do a deep dive on once the game’s release date is closer
Delysium
($150k governance token)
Delysium is an upcoming shooter with a heavy focus on user-generated content, allowing players to create, own and monetise experiences against the rich backdrop of HK inspired dystopian environment
Delysium is an offshoot of rct.ai, a successful YCombinator start-up the creates AI products for the gaming industry, facilitating the deployment of reactive NPCs, creatures and environments that have been deployed in major titles
Perion players have been engaged in early private play-tests for Delysium’s battle-royale mode and have been reporting exceptional things. We are super keen to start creating content within the Delysium environment
Gotcha
($50k governance token)
Gotcha is an NFT leasing protocol designed to offer solutions to many of the taxing systems used throughout Web3 that connect assets across games gamers and guilds. Gotcha is still in stealth mode so I’ll only touch on it lightly today
Social Metrics
Social metrics remained relatively flat since the last report. We’ve been holding back on pushing marketing with markets relatively turbulent, saving it for the bull
Treasury holdings
While markets have under-performed across the board, our treasury has weathered the storm relatively well. On a positive note we’ve roughly doubled the size of our Zedrun stable in anticipation of the release of the native ZED token (which we’re super bullish on)
As I’ve mentioned in previous reports we’ve been cognisant of unfavourable market conditions and have opted to maintain a relatively large cash position / runway. Benchmarking against market performance highlights this has been the correct approach — Since our last treasury report (April 9th):
- BTC has declined 27.5%
- Perion’s treasury’s NAV (Net-Asset Value) has declined: 15.3% to $12,427,129.81 (not including native tokens)
In light of the fact many alts have significantly underperformed BTC we’re OK with this, to a reasonable degree. (Bitcoin also doesn’t have to pay DAO contributors). Data as follows:
Liquid NFT assets: $1,274,986.08
Illiquid NFT assets: $1,500,000
Liquid Tokens: $516,171.17
Illiquid tokens: $300,000
Currency / Cash: $8,835,972.56
A quick note on Market-cap
We’ve been seeing a fair amount of panic from PERC holders of late. I thought I’d offer a quick piece of insight as to why we’re not worried:
Perion’s market cap is currently $1,041,501.00 (Source). The liquidation value of Perion’s balance sheet is $12,427,129.81. Crunching those numbers shows Perion’s is currently trading at an 11.93x discount to cash
So every $1 of PERC held is backed by close to $12 of value. Put simply as of today you can own $12 for $1. Make of that what you will
— Mitch
P.S If you want to know why a discount to cash is very uncommon or if you’re one of those panicking, please read the following article: Link
Wallet addresses
The following are the wallet addresses used by Perion DAO, note we operate >1000 Ronin wallets, which are spun up from the seed wallets listed
Ethereum
- 0x12D73beE50F0b9E06B35Fdef93E563C965796482
- 0xb9F686e51038A6F05Ae7D8d18Ae8F1D4c7f6dcF0
- 0x0E57EefdD1eDb66e4984c3E3026A48189F4B064C
- 0x98b729F0212AC8a4647c70dCFbf982439372Eaf9
- 0xe9d40024e9249bed537663d0f3bceff9bd234657
- 0xCE27BedF793FaA58b60054C4ae2f43d4cB4b5437
Solana
- D8nBChk3LUzDe23bK5JdyPStZifxr46VQhUkCQKsznXk
Ronin
- ronin:d95d8873017563fdf9635bc26c908d4ce4f052b4
- ronin:d14321edc53b848d60ff1386cb94691f65051cfa
