Proposal Type: Resource
Creator: @Adrian | MetaBrands.io Relic Type: Archmage
Overview: Blink Galaxy - Previously known as OuterRing has reached below seed price marking a good opportunity for the DAO to secure our spot as the top holder in their entire ecosystem and more yield opportunity for MAGE Relic owners.
Additional Details: Delays and many negative sentiment revolving around $GQ has taken the token to an all time low below seed price, but I personally feel that things are about to reverse and sentiment is about to change due to these events that could positively impact the token price.
A) The token was holding its price around private sale pretty well until a hack incident happened, causing more FUD and panic from token holders selling the token to slightly below seed price. (As of today, the stolen tokens were recovered and 100% of it was burned and removed forever from circulation)
B) The sentiment in the community has reached an all time low with many people questioning the teams activity and lack of marketing initiative. (We've been on calls with them and they've already acknowledged the challenges they have and working to improve these areas)
C) Bull market is here while BTC broke all time high, $GQ made an all time low, so some impatient whale recently sold off their entire stash at a loss to exit the project. Many have questioned the team's silence and why the token price is where it is. (They are changing and about to drive up marketing for their ecosystem as well as releasing newly designed content they've been working on for the past 2 years.)
D) Risk/Reward here feels fairly safe given that majority of the token is already in circulation and many of the pre-sale investors have dumped and exited their position. The upside here is that OR re-branded to Blink Galaxy and has become a distribution hub for other games within their ecosystem. All of them all using $GQ as the main token. They are striving to launch their own gaming chain which $GQ will be used as the gas token to transact on their network. We would be acquiring additional token from this project at around 13-14m FDV for an entire gaming ecosystem.
The objective is to accumulate $GQ token at their all time low while the bull market is here and they have transition into a gaming ecosystem before the GameFi narrative cycles back and their marketing initiatives kick off. We would be well positioned that allows the DAO to exit some of its holdings to realize yield for MAGE Relic owners while still maintaining our position as a top token holder in their entire ecosystem.
Additional Context: The DAO invested into OuterRing for Seed & Private rounds and have achieved a full ROI + over $100k in realized profit for MAGE Relic owners while still owning tokens right now that puts us in the top 20 holder position. We are technically in a safer and better position to re-enter into this project now and benefit from the upside potential, even if it's just a small 2-3x on a short time frame if the DAO voted for it. As their partner, we are also actively working with them on the backend to help them with their strategy to take advantage of the current bull run sentiment so they aren't left behind.
Timeline: When prices are within/below the DAO's agreed entry point.
Investment Scope: This should include the size of the investment and desired assets to acquire a. Total Amount ($50k, $100k, $150k, none) b. Asset List (stable token) c. Investment Horizon (decided by the DAO)
Options: $50k to buy $GQ $100k to buy $GQ $150k to buy $GQ Reject (Do Nothing)
Receiver: MetaBrands Treasury Trade
Executor: Any available DAO Operator