I honestly have no clue. As much as I try to keep up with and check in on the gaming side of web3 I am really behind and out of the loop. Family, job, and DeFi have kept me so busy that I have failed to stay up to date with this exciting part of Web3. So, am I ok with missing out?
No way.
While I may have hopes to dive deeper in this space, I’m just not sure when/if that time will come. But while I wait for that ever-elusive fantasy of more time and less demand, I have found a much easier way to gain exposure to gaming’s upside without constantly having to invest time, energy, and costly $ETH transactions…
$PLAY time
My simple solution comes from PieDAO’s $PLAY Pie. An index token containing broad exposure across some of the biggest names in Web3 gaming.
$PLAY currently includes $MANA, $SAND, $AXS, $ILV, $ENJ, $GALA, $YGG, and $AUDIO. As PieDAO observes the market they will analyze and align this index to the optimal spread for web3 gaming. That can be a change in allocation or even the tokens that make up the index. Personally, I’d be interested to see if Immutable X makes it into the pie.
Players gonna $PLAY
Oh, and btw as testament to PieDAO’s connection to this space, Sandbox Game recently opted into their treasury management pilot program. They must be impressed with PieDAO and their strategy.
Have your Pie and eat it too
Index tokens are great but being able to pull the actual assets out that they “contain” isn’t always possible. With PieDAO though, you can redeem $PLAY and any other Pie for the tokens underneath. So even if you decide the index token itself isn’t what you want you can redeem it and gain the 8 tokens it contains which still results in saving you countless transactions and associated fees.
What’s even more interesting is comparing the market price of $PLAY vs. it’s NAV or net asset value which is the value of the tokens included in $PLAY. At the time of this writing, the market price of $PLAY is ~$2.35 while the NAV sits at ~$2.61. That’s an 11% discount on gaming tokens…
You know that feeling when you do a swap of say $500 on Curve and suddenly find yourself up $20 on the trade??? Yeah, it’s kinda like that 😉
Now obviously this fluctuates and just emphasizes that there is lots of opportunity in $PLAY and PieDAO. You can pursue a nice easy passive strategy or take a more active approach. Either way the bakery is open. 🙂
If you’d like to read a broader review of PieDAO check out my last article here.
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