In this issue:

• This Week in Neo Tokyo: “Long Live The Citadel!” (by PhoenixxDown)

• The Neo Tokyo Project Resource Program (PRP) (by DamonNeedsToCreate)

• BYTES August Chart Update (by Steven-T)

• Will My Old Altcoin Shine in the Next Bull Run? 4 Key Things To Consider (by Koko | NGMI Lab)

HodlPerks Partnership Announced

Neo Tokyo officially announced a partnership with Hodlperks, the Citizen-Founded project that allows NFT holders and communities to claim real-world benefits and perks!

Learn more about Hodlperks here, including info on how you can get started and begin to take advantage of the benefits on offer.

Website Updates: Trade Tool To Return

The dedicated citizenry has been diligent in pointing out certain website issues as of late, and Firestorm has provided an update for everyone regarding the progress of these fixes, which you can read here.

Of particular note in the update is the enhancement of our Trade tool. This tool played a pivotal role in the decision-making process for many of us when considering upgrades or downgrades for our NT Citizens, so no doubt many will be pleased to see its return.

CitCap Updates

“Long live The Citadel!” CONNECTED announced on Sunday, along with the news that the CitCap Notion wiki has now undergone a comprehensive refresh with updated information. This includes detailed breakdowns of Transcendence Cards, Upgrade Cards (recently reintroduced), and CitCap’s latest offering - Mystery Boxes!

Mystery Boxes are live right now, and you can read all about them, plus all of the aforementioned topics, via the CitCap Notion here.

Reminder: Leads/Council Applications Close TONIGHT

Purgatory Club has been awash with talk of how to take Neo Tokyo into the next era lately. Talk is good, but there’s no match for having the power to enact change you want to see.

The application form to be considered for leadership in Neo Tokyo closes tonight.

Apply here.

For those of you that do not know, there is a department within Neo Tokyo catering to all NT Citizen Founders. The purpose of the Project Resource Program (PRP) is to support Web3 entrepreneurs by helping them understand, locate, and access resources that can help them build their team, their communities, and their projects. On top of that, the PRP is also facilitating the networking of the most active members of the NT Community.

Here are a couple of facts about the Project Resource Program that you might not know.

Excellent Onboarding

The PRP has an onboarding process that is above and beyond. Imagine walking into a room full of smart people and then realizing they are all your friends and want to help you think through all of your project’s problems. Now stop imagining it, because it exists.

Every Week, the PRP Hosts Action Hours

Action hours are focus times on Tuesday, Wednesday, and Thursday that you can book in your calendar. Join top-level dedicated experts in marketing, Web3 tools, team management, community building, content creation, and much more. Drop in and leave when you like while getting quality interactions and responses to your needs.

“You do not have to create a project to participate in PRP”

Yes, there are dedicated channels just for founders, but there are also spaces where experts and skilled Citizens can interact with the builders, offer support, or even join their team. There are also ways for those with no Web3 talents to get involved as part of the PRP Core Team. All you need is happening within the PRP channels inside NT.

Full disclosure, and maybe fact number four that you didn’t know about the PRP: I am running the PRP. My passion within the NT server has been to amplify the vibe we all feel there. This department is the scaling up of everything I’ve been pushing in discussions and my articles for the last year and a half.

We are making progress thanks to the hard work and ideas of Citizens like you and I. The PRP is proof that what we do during this bear matters.

 After a solid initial launch for BYTES 2.0, July saw the effects of new tokens coming into circulation. The biggest driver of price currently is the liquidity depth. Currently there are just over 3,000 BYTES being generated today. Looking at the depth of liquidity (2.6 ETH Support) we can see why it takes such a small amount of BYTES being sold to keep the price lower.

Approximately 1 ETH worth of selling pressure can move the price 50%. On the bullish side you can see there is supply ready to absorb buying when demand comes. This will help stabilize the market and I am hopeful liquidity depth will increase with time.

August Monthly Pivots in USD:

Support 1: $0.916

Central Pivot 🧲: $2.17

Resistance 1: $2.99

The July support 1 pivot came to fruition and bounced off $1 quickly as citizens looking for a deal were able to get a great price. I did not expect this to be tested so soon in July but when dealing with low float tokens large volatility is a certainty and we saw that.

These pivot charts are not meant to predict anything but they can be used to assess risks and opportunities in the market. Catalysts can affect the price of BYTES in unexpected ways.

If you have any questions, feel free to reach out on Discord at Steven-T or on Twitter @neotokyocat.

 I recently reported on Phantasma for NGMI Lab and was sorely unimpressed. The once-promising altcoin now seemed like a relic: an outdated whitepaper, limited updates, issues that seemed never-ending, a convoluted onboarding process for users, and a waning community.

This got me thinking: how can one predict if an old altcoin will pick up steam during the next bullish wave in the crypto market? Here are four crucial indicators to track:

1. Community and Users: 

I’ve waxed lyrical about the importance of community in crypto before, but it bears repeating. A thriving and satisfied community isn’t just a random occurrence; it’s often the result of solid leadership, effective communication, and a team that actually listens. Diving into the maze of community chats on platforms like Discord, Twitter, Telegram, and Reddit can reveal heaps about a project’s health.

While it’s a task that might require a bit of digital archaeology, sifting through past conversations and tuning into AMAs offers a goldmine of insights. It’s a bit of a dig, but the gems you find are worth it (and hey, if you’re pressed for time, NGMI Lab is here to help!). Take SuperVerse: Project lead Elliot Wainman faced a massive hack as well as $SUPER having a less than appealing chart, but the real test will be whether their community sticks around.

Uniswap, another coin that could be considered “old” remains at the forefront of decentralized exchanges, not just due to its continued innovation, but also its enormous user base. These real users rely on the platform daily, and such consistent engagement is invaluable in gauging an altcoin’s health.

2. Maintaining First Mover Advantage:

Being the first in any industry offers an unprecedented advantage, but to keep this advantage, projects must continue innovating. Consider Polygon, operating in the fiercely competitive Layer 2 solutions arena. Even with strong contenders, Polygon’s innovative steps, like the launch of the Zk EVM, the partnerships it has forged, and the bustling dApp ecosystem ensure it remains a dominant player.

Conversely, Phantasma launched in 2018 pioneering ideas like interoperability and the necessity for low fee blockchains for gaming. This project has now completely lost its first-mover advantage having barely 15 working dApps, and only interoperable between Eth, BSC and…NEO. Suffice to say from my view, Phantasma massively lags behind its competitors highlighting the importance of staying updated and relevant in a rapidly evolving space.

3. Business Fundamentals:

Strip away the jargon, the tech, and the tokenomics, and at their core, most altcoins are businesses. A seasoned altcoin should have its business fundamentals sorted. Are they generating genuine revenue? Have they built a strong user or customer base? Chainlink stands as a great example here. Launching in 2017, it’s still the industry’s premier oracle solution (Source, Dune: here and article: here), achieving this feat not just through technical superiority, but by addressing a genuine market demand and establishing an undeniable revenue stream.

• Find out what Koko’s final crucial indicator is via the complete article here, on the Neo Tokyo News website.

NGMI Lab members can get detailed reports on a wide range of crypto and crypto gaming projects at:https://ngmilab.com/ 

All content from Neo Tokyo News is for entertainment purposes only, and not financial advice.

That’s it for our 9th edition of the Neo Tokyo Newsletter. Be sure to subscribe and share with your friends so you don’t miss out on future content.

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