BRICK (marketcap $3,300,000, up 45% today) is backed by Reddit, a company with a valuation of $10 billion. The ability to trade BRICK on mainnet from testnet was recently enabled, and has already climbed 600% in the last 30 days. With only a $3,300,000 marketcap, I believe this native Reddit community point token has huge potential.
Reddit has two “community point” tokens, $BRICK and $MOON. $MOON was developed first, was unlisted on any major exchanges and only 6 months ago had a marketcap of $4,000,000. Since being listed on a major exchange (Mexc), its marketcap has exploded by 6x to $24,000,000. Brick, the newer of the two tokens, has not yet been listed on any exchanges.
Deflationary and Capped Supply: This is not your average shitcoin with infinite supply and zero fundamentals.
There will be a MAXIMUM 250 Million Bricks to ever be distributed with a bonding curve similar to bitcoin’s mining distribution over time.
Every time a FortniteBR Sub user uses his Bricks to buy a Sub Membership these 500 Bricks get burned so the deflationary mechanism is a nice bonus.
Combine the Capped Supply with people constantly BURNING Bricks out of circulation to get the Sub Membership and you get a nice formula for success, not to mention a solid use case.
This means that over time people will earn less and less Bricks per month.
Ties to Fortnite: BRICK is backed by Reddit and is the community point system for r/FortniteBR. Fortnite has maintained a consistent monthly active playerbase of around 80 million, with 2021 being a peak year at 83.3 million MAPs. Fortnite has more than 390 million registered players to keep the game alive and running. According to the data provided by Active Player, in the last thirty days, the game averaged 252,600,145 peak players in a day.” – https://fictionhorizon.com/how-many-people-play-fortnite-user-growth-stats/ Around 85% of Fortnite players are aged 18 to 35 – https://explodingtopics.com/blog/fortnite-stats
Fortnite has grown year over year since it began in 2017. But that’s besides the point. It doesn’t matter what BRICK is attached to, although being attached to fortnite certainly helps as most crypto investors align with the ages that typically play fortnite. What matters is this coin is safe from rugpulls as it’s tied to a multi-billion dollar company. What makes it a good opportunity imo is the fact the marketcap is so low. Taking everything into account I’ve already mentioned I think it’s a good buy right now and will only go up.
Safe: Reddit, a privately held company, has a valuation of over $10 Billion as of 2021. (Source: https://www.theverge.com/2021/8/12/22621445/reddit-valuation-revenue-funding-round) Reddit has even proposed that it might be worth as high as $15 Billion in 2023.
A company of this valuation has employed a very large legal department (Google: “Reddit legal department” and scroll through results to get an idea of the size) to handle all major decisions involving risk. This extends to vetting any cryptocurrency projects it might affiliate itself with.
Since $BRICK is specifically affiliated with two of Reddit’s largest subreddits, these have most certainly had countless hours of research and vetting done by numerous legal department staff. Imagine if Reddit didn’t fully vet $BRICK, and something like a rugpull or exploit happened draining either of all funds. They’d be sued on a massive scale, and would likely be found liable for damages.
Thus, we can deduce that $BRICK has been fully vetted, and is likely one of the safest Memecoins you could invest in today, since it’s backed by a multi-billion dollar corporation.
Brick verses Moon Moon is affiliated only with r/cryptocurrency, whereas Brick is affiliated with r/fortniteBR and Fortnite the game which has hundreds of millions of players. Also, r/cryptocurrency members are active traders of crypto and selling Moons is somewhat discussed throughout their sub, leading many Moon farmers to sell what they’ve accumulated.
r/fortniteBR members for the most part don’t actively trade crypto. Selling community-acquired Brick is prohibited, is against Reddit TOS and can’t even be discussed on r/fortniteBR (I’ve spoken with the mods, no discussions about buying/selling/trading Brick allowed).
I believe $BRICK is extremely undervalued with a marketcap of just $3,300,000. This is a drop in the bucket when compared to other memecoins of years past such as Dogecoin, Safemoon and Shiba Inu. Dogecoin at its peak had a marketcap of $88.8 billion dollars. Just for comparisons sake, if $BRICK ever gets to this marketcap, you’d see a return of 3670x your initial investment, meaning $500 invested today would turn into $1,835,000.
HOW TO BUY: Step by step instructions on how to buy $BRICK
Step 1. Download the MetaMask Wallet App and follow the in app prompts to set up your initial wallet.
Step 2. Make sure you have Ethereum in your MetaMask wallet. You can purchase ETH with a debit card by clicking “ETH” under your token list, then clicking “Buy”
Step 3. In your MetaMask wallet browser, visit chainlist.org, scroll down and search networks for “Arbitrum Nova” then select “connect wallet”.
Step 4. In your MetaMask wallet browser, visit orbiter.finance. “Token” at the top should be “ETH”. “From” should be Ethereum. “To” should be “Arbitrum Nova”. Input the amount of Ethereum you’d like to swap and press “Send”.
Step 5. In your MetaMask browser, visit either Sushi.com or RCPswap.com.
Sushi Instructions: Visit Sushi.com and click “Enter App” in the top right corner. The top token should be “ETH” and search for BRICK for your bottom token. Input the amount of ETH you’d like to swap for BRICK, and press “swap”.
RCPswap Instructions: The top token should be “ETH” and the bottom token should be “BRICK”. Input the amount of ETH you’d like to swap for BRICK, and press “swap”.
You now own BRICK! Follow the same steps in reverse whenever you want to sell.
