A Deep Dive Into Valhalla, A Crypto Native Brand For Gamers
A Web3 startup studio based in LA
As of writing this article (12/19/22), Valhalla is the No.1 trending NFT project on OpenSea with 10,000+ ETH total trading volume and 38% unique owners.
What made this NFT project stand out in this cold, dormant bear market?
Valhalla is a child company of Stacked that raised $15M in August 2022.
Stacked tries to become a crypto-native brand for gamers, whose first product is Twitch for Web3 gamers. According to @notalexlin, the CEO, the holders of Valhalla will get exclusive benefits on their live-streaming platform. Their PFP NFT project is just a nice add-on for a big ecosystem they’re building.
Their investors include Pantera Capital, Line Global, GFR Fund, and founders of multi-billion dollar companies like Alexandr Wang from Scale AI. It’s a great list of investors in this market condition.
A completely doxxed team.
They’re building a real product, so they’ve got nothing to hide. You can view the short bio, LinkedIn, and Twitter profiles of all 11 team members.
A competent team.
Alex, the CEO, is a founder with 2 Y-combinator experiences and 2 substantial exits. Ryan, the Chief of Staff, has an investment banking and private equity background. They also have a few core team members with technical backgrounds from MIT, CMU, and Uber.
Many months in the making
According to Wayback Machine, they released a live-streaming app in Q1 2022 but then seem to have tweaked their product in Q2 and continue working on it to this day.
I think their MVP or beta version was good enough to raise 15M, so we can expect a high-quality MVP when they launch to the public.
Hype building well before the launch
Valhalla NFT was launched in October, but did you know that they showcased their 3d character in NFT NYC (June 2022)?
In addition, they showed off their art capabilities every now and then to build hype until the launch.
Partnerships, partnerships, partnerships
They’ve partnered with various esports teams, @Sentinels, @Talon_esports, @JDGaming, etc. Not sure if those RT and like numbers are 100% real, but they seem to have partnered with blue-chip esports teams.
Reroll mechanism that changes your NFTs’ appearances
The team has successfully built a fair on-chain reroll system that allows NFT holders to change their NFTs’ appearances after burning their Armory token. While the reroll system is not new in the NFT space, the team has shown the technical capability to implement an on-chain reroll system for its holders.
In conclusion, the Valhalla NFT has been rising because of
The strong team
The team’s previous track records
Sufficient funding
Full doxxing of team members
Big partnerships
Technical capabilities
Months of building the prototype and NFTs.
Thanks for reading and have a great day 😊
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.