Forgive me for the delayed publication of this week’s Market Musings as I’ve been recovering from the long journey back from Singapore. Given this opportunity, I would like to share a couple of my thoughts and takeaways from the Solana Breakpoint Conference and what I think it means as we move into Q4 and beyond. While you wait for the fu

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In A New Framework For Understanding Moats in Crypto Markets, I established a simple heuristic for assessing the defensibility of a crypto application:

If I fork this app, with $50M in token subsidies, can I steal and maintain market share?

If the answer is yes, it is likely a matter of time before an emerging fork or undifferentiated com

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CTG is a crypto social experiment that has drawn comparisons to the Hunger Games and Survivor. In June they were acquired by Uniswap Labs in anticipation of S3, which has still not launched.

Based on the tweet frequency from the CTG official twitter in September, I expect CTG S3 to launch sometime in October/November.

Game Design (S2

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Have you ever heard the story of the crypto product leader that gave out juicy incentives over a long period of time to cement their position? Neither have I — or anyone else, for that matter.

It’s true, tokens are a valuable tool in that they can be used to incentivize people to interact with a protocol. As a money market, you can juice

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Gunzilla Games now represents Delphi’s biggest gaming investment to date, as well as the largest angel cheque I’ve ever written. Having spent ~7000 hrs playing shooters throughout my life, and now over 60 hours in their flagship battle royale Off The Grid (OTG), I can confidently say this is one of the best gaming experiences I have ever

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Rise Chain is a L2 attempting to develop a parallel based rollup that can reach 1 Ggas/s.

For context, Ethereum is operating at 1.25 Mgas/s. Base, a rollup that has continually pushed the gas limit, is operating at 60 Mgas/s.

Gigagas is a measure of billions of gas units per second and a better metric to show a chain’s scale then TPS

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TON has firmly established itself as one of the strongest narratives in Web3 gaming this cycle. After demonstrating robust user growth in Q1 and Q2, capped by the explosive Notcoin TGE that exceeded expectations and hit over $1B in market cap, a narrative has formed around the TON/Telegram mini-app ecosystem as the number one top-of-funne

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The post below has also been posted on Twitter by the CEO & Co-Founder of Delphi Digital, Anil Lulla. You can read the thread on Twitter here: https://x.com/anildelphi/status/1838155707788767579?s=46

Projects/Sectors Mindshare

• There’s a big difference between the online discourse within the echo chamber that is CT and what people are ta

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A large exchange reached out regarding Delphi’s DeAI thesis and a few other prompts. If you have missed our DeAI series, the below may be a helpful synopsis of the Thesis and core areas we are excited about. Given crypto is essentially open source s... Read more