Some new thoughts about Blast Is it necessary for ordinary players to play?

Rethinking Blast Is it necessary for casual gamers to participate?

Author: NingNing, Senior Researcher at EMC Fund Source: X @0xNing0x

1. The current status of Blast is just a pure points game, the official website doesn’t even have a technical document; even if Blast’s mainnet is successfully deployed in February 2024, it will still face widespread doubt and criticism from the Ethereum community because the final security of assets is not guaranteed by the Ethereum mainnet.

2. The core logic behind Blast’s sudden popularity has two aspects: 1. Bursting the bubble of this old points game called Blur; 2. Providing an opportunity for whales who missed out on this market trend to get in on the action;

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3. The nature of Blast’s airdrop is not a revolution for “slave” rebels, but a capitalist carnival. In the past, the largest beneficiaries of L2 airdrops were ordinary wool party members and wool studio workers. The largest beneficiaries of Blast’s airdrop will be whales and community leaders;

4. We can create a simple model to estimate the risk-to-reward ratio for participating in Blast.

At the current stage, participating in BLAST means locking Ethereum in Blast’s multi-signature smart contract until February 2024. The biggest cost of this investment is the opportunity cost.

We can choose 5 targets from the top 100 cryptocurrencies to compose an investment portfolio and use its potential return rate as the opportunity cost of participating in Blast.

If the current market conditions continue as most market participants expect until Q1 2024, the potential return rate of this investment portfolio will not be lower than 50%.

However, based on the experience of the successful incubation of the points game Blur Season 2 by LianGuairadigm and Friend Tech, the majority of participants have a much lower return rate than 50%.

Therefore, participating in Blast is not cost-effective for ordinary players. It is better to directly buy the above-mentioned investment portfolio. Blast is a carnival for whales and community leaders.

5. The core purpose of Iron Mountain launching Blast is to find a buyer and burst the bubble of the airdrop that occurred in Blur last week. In order to achieve this goal, they didn’t hesitate to disrupt the fund structure of BLAST. Too many people (24,000 independent wallet addresses) rushed in on November 21st. This approach is very unfriendly to community leaders and exponentially increases the difficulty of customer experience and attracting new users. This is also reflected in today’s data, with only 220 independent wallet addresses participating in BLAST.

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