$CARDS has repriced much faster than actual
@Collector_Crypt growth.
$CARDS is up 123% over the past 30 days and 667% over 90 days.
gacha spending grew 74% and 153% over the same timeframes.
this rerating may be justified if token value accrual follows.
today, however, the link from app growth to tokenholder returns is unclear.
i'd have a much easier time going all-in on $CARDS if value capture was actually explicit (like with $RAIL).
honestly though this is a much bigger crypto problem:
> tokenholders are told they're buying exposure to network growth.
> in reality, they're buying exposure to the *possibility* that network growth benefits the token.
> meanwhile, equity holders benefit by default.
to me that feels super backwards, and something we need to fix asap.