It’s been a little over a month since Binamon popped up on our radars. One month ago, It’s early July 2021 and NFT’s are already heating up with a high demand for Cryptopunks, Bored Apes, Meebits and the like. At this time Axie Infinity, which started in 2018, was already well established, showcasing a play to earn gaming/NFT system model. Axie Infinity would soon power past a one billion dollar marketcap, with it’s current mc at nearly 5 billion dollars and moving up. Given all this and whether or not it was planned, Binamon launched at the perfect time, initially the IDO was somewhat sluggish and even fell below the IDO price to which we viewed as a great buying opportunity because the public had yet to catch on to, “something at the right place at the right time.” I was somewhat hesitant to ape in because the ecosystem and tokenomics were not quite clear yet and the artwork was not exactly amazing, but it had that old school Pokemon vibe, days of opening card packs at Toys R’ US vibe, so I went nuts. The goal was to collect as many Binamon monsters as possible. I spent a whole day buying and opening packs. With this large amount of cards I was shocked to see the “algorithmic value,” of some of the cards surpass thousands of $USD. It seemed too good to be true yet, had me really pumped up for the future of Binamon.

So, when and where, if at all, did it all start to go wrong and become susceptible to FUD? It started with the community advisors creating an over-hyped expectation and demand for a product to which the developers were not able to keep up with. Advisors kept promising the moon, leaving developers with massive shoes to fill. The community advisors got too much control of how the public perceived the project and they even started in this back and forth campaign to smear the Binance name and CZ because he said something unfavorable in the direction of Binamon. And this whole time, the core team is staying somewhat silent and letting their hype men advisors continue to take the stage. Another thing that made me slightly bearish was all this money being spent on advertising and not enough to, “iron out the wrinkles,” in the Binamon conception such as website, game design, bugs in staking contracts etc. So, we bring in new users only to encounter a faulty experience and maybe lose desire and leave. I was hoping to see bug bounty rewards, a few solid audits and additional help coding to make the frontend more user friendly and concise. Something that really bummed me out is when the team took all the rewards we had saved up staking. I’ve heard stories of others that had accumulated handsome rewards which still have not been returned. That creates less confidence to HODL and feel comfortable leaving your investment unattended. Claiming everyday for fear of having rewards taken away again have created these accumulating gas fees.

So, how to I currently feel about Binamon? Very bullish. I am still holding everything. Let it find its bottom, shake out all the loose hands and give their cheapies to deserving people who buy the dip. After the developers catch up to the expectations of the advisors this could become a very fun play to earn game within a popular token ecosystem. No one can complain about lack of marketing (big budget = NY Times Square Ads!?) and the team gets 100/100 for their efforts in that regard. I strongly believe they will follow up on their promises, can turn the bearish things around and create a very popular brand. I’m already seeing other projects emmulating the Binamon brand. Binamon got to the Binance Card Monsters first, and now has that established mover advantage in that with it, its movement determines the relative market to which other projects are spawned. Other projects are trying to replicate the rapid success Binamon had and will continue to have. I know it’s been tough for hardcore holders with this roller coaster of events but, that’s crypto and if we have learned anything; zoom out and see the big picture.