Comparing with my own other positions, I consider my investment in Nash to be a substantial part of my portfolio (although small compared with your typical crypto degenerate). I too battle with the emotions seeing NEX price actions and expectations, especially in a market where degenerate “Sushi” farming on Uniswap is making 10x in a few days.
The way I think about it is: two years ago when we did the ICO - the price was $1 which represented the value of the team and its vision. I ask myself - do I think over the past 2 years whether the team and product have added more value to that $1 or less? and the answer is easily yes - I believe the team has and that $1 isn’t any less valuable now, and in fact with a functional product ecosystem it’s probably fundamentally worth more.
However, as we know this is not how price works in crypto - as the driving mentality is “how can I buy a coin early, and flip it for 10x on the next loser”. You can see this “hypevesting” in the market prices - and this is 100% driving the big volume in the crypto space.
So the price action as I see it is people deciding “should I farm Sushi, or should I buy/hold NEX?” Answer is farm Sushi - thus NEX price drops temporarily - but though there’s a reflection in price, this does not negatively change the Nash products or their future at all.
Unfortunately in the short term, the regulation aspect of Nash might possibly prevent us from accessing those sick sick degenerate sushi volumes - but I think the principle of regulated access opens the door for that sweet commercial/institutional trust and money in future.
I think Nash could have done better and its easy to say that in retrospect, but the products developed and ideas are close to the mark. I think if they’re fine tuned, and Nash definitely needs to do that, at some point you’ll hit the right market fit and start pumping that digital oil.
My only concern with Nash is managing operational expenditure until Nash breaks even in revenue. If we can hit that milestone - I’m 100% confident Nash will succeed. In the meantime I close the price graph, let people do their work and check back in later