SHILL Issue 22

on the 10,000 NFTs that exist. That’s
not even 1% of the 30 million initial
supply. And there’s an extremely
high likelihood that only a fraction of
those 273,972 tokens will end up on
the market since there are so many
$SHDW hodlers who are not going
to part with their tokens (me being
one with the 3.5 Shadowy Super
Coders I currently own).
Taken as a whole, this approach
to the $SHDW IDO limits the ability
of whales to dump a boatload of
tokens immediately, which would
undermine the price. And it’s giving
us, SSC owners, a huge amount of
flexibility to sell tokens daily, hodl,
or even completely pull an NFT out
of the smart contract and sell it on
a secondary market, knowing that
the NFT has a ton of residual value
based on the remaining vesting
payments and the 3,000-token
sweetener.
What Might All of This Look Like?
Let’s consider a post-IDO $SHDW
token relative to Filecoin and
Arweave, two of the primary storage
firms now. Neither can scale with
Solana and neither is built into the
network itself. But they’re excellent
comparisons because of the
business they’re in.
At Filecoin’s market cap of $5 billion,
$SHDW is a $25 coin.
At Arweave’s valuation of roughly $2
billion, $SHDW is a $10 coin.
Frankly, I think $SHDW achieves
a $10 billion valuation ultimately
because as a storage arrangement
running inside the SOL blockchain
itself, $SHDW has a superior, cleaner,
more elegant solution that literally
scales right alongside Solana.
That’s a $50 price tag on $SHDW.
But let’s just stay conservative and
stick with $10 to $25. That means
one SSC NFT will spin out between
$274 and $685 per day.
PER. DAY.
Let’s be even more conservative.
Let’s say $SHDW is a $5 token (a
fully diluted market cap of just $1
billion; a top-90 crypto).
That’s $137 per day or more than
$4,100 per month. That’s an annual
salary for a boatload of people —
and more than an annual salary in
many parts of the world.
For those who see what GenesysGO
is doing, you will reflexively
understand why an SSC at 30 SOL
— or even 50 SOL — is dirt cheap
relative to the value that will be
unleashed over the next year.
Seriously, if you think $SHDW at $5
per token is a legit price, then an
SSC is worth nearly 300 SOL right
now, using a $170 SOL price. At 30
SOL, the market is valuing $SHDW
at $0.52 per token, basically its IDO
price. And to think $SHDW is worth
just $0.52, given the role it’s going
to play in helping Solana scale,
is akin to John Antioco’s Netflix
miscalculation.
For those who can’t get past not
having immediate access to some
portion of 10,000 tokens you can
sell at IDO for $0.50 each and
pocket a whopping $2,500 or so …
I’ll be waiting for you at Magic Eden.
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SHILL Issue #22