So, it seems the correction from Jan/Feb’s bull is coming. First of all, I think at this point it’s safe to call it a bear market or at least its initial point. It was expected, but it seems there are a few other factors that can further increase how long this can last.
ETH at $2,600 and crabbing for a long time now, the war in Ukraine, economics’ inflation and OS volume dipping day by day are the signals of a bear market.
There were too many newcomers in the space in January and most of them are not used to down cycles. It’s a snowball effect: they see prices dropping, they panic and lower their prices to get liquidity asap. And this is the start of an undercutting process that demolishes floors.
And I’m referring to legit projects, from teams that are working non stop to deliver.
The ugliest side of a bear market are the slow rugs: projects that were just waiting for the opportunity/excuse to abandon, little by little, their communities. These floors are never going to recover.
BUT everything in life works in cycles. I have a huge Tree of Life inside an Ensō tattoo on my back because I truly believe life is made of ups and downs. It is a reminder to be patient and to embrace imperfections and cycles.
A bear market is like a wildfire: it cleans the rotten and broken elements from nature and prepares the ground for a new generation.
Strong trees, with established cores, will survive.
And there are seeds being planted and nurtured right now. These are going to flourish at the right time, at prime conditions.
Voodies is one of these seeds.
We are just keeping our heads down and working.
Ngl, it isn’t easy to keep pushing silently, we are humans and we have dreams and fears.
But we started this project at the previous bear market, more than 6 months ago. This down cycle is not going to stop us or rush the process. We have a solid plan in motion and we will stick to it until the right time.
We are aiming for a polished experience for our community, from discord UX to website and art.
For example, we are acquiring a 3d printer to make custom eyes and mouth expressions. The traditional market offers just a few options for amigurumi artists and we want more, so we are doing it ourselves. I will explain it in another log.
I just mentioned it to show that we keep building. No matter what.
We believe in this space, we believe in this technology and its power to emancipate and transform lives.