Ok my last input on this one.(Once again, mostly recording this for myself)
@Rocket6 I agree that the increased discipline in capital allocation is key to Playsides performance going forward and managements focus on this was the reason I continued to allocate to position.
What I see as a slight difference in this scenario is the fact that through the sale of the NFTs they effectively were paid $8m upfront for this project, rather than having to fund the project from the ongoing business funds and hope the title is a success to be able to recoup development costs.
They haven’t axed the project which means a title will be coming out. So even if you halve the NFT sales to $4m for paying the costs associated around NFTs and business ops, based on the slides from the time you were talking about, this falls within the Indie category.
This means that all the “resources” should be available upfront for project completion.
12-18 months - Currently at 25 months
$20-$45 - Free to Play ( or price of NFT)
$2m - $20m - $8m + already (Success)
Anyway that’s all from me on this one. I still have my Playside review to complete so this leads in nicely.