As we continue into our fifth trading year, we are pleased to announce end of Q1 results for 2022–23 (April to June) for Spectre.ai.
Y5 Q1 Results:
- Actual number of total traders by end of quarter = 10,343. This reflects an all-time high.
- Actual number of traders within individual quarter = 916. This is our lowest since year 2.
- Actual number of total registrations by end of quarter = 138,401, up 25% compared to the 110,715 registered by end of Q1 last year.
- Actual number of registrations within individual quarter = 3,848.
- Total volume traded within individual quarter = $2,655,596
- Number of users who have used SXUT to upgrade = 127 (no change).
- Number of wallet accounts since launch = 62 (no change).
- Decentralization factor (since launch) = 0.60% (lowest ever).
- Paid out winnings = $1,152,909.
- SXDT rewards paid out = $192,126.
End of year 4 special rewards paid out = $50,000.
As previously highlighted, weaker trading volumes have been evident in the last year or so, in part to the slowing of the retail trading boom that began with pandemic lockdowns, and this continues to be the case.
Also, during this quarter the crypto market in general experienced a major pullback or crash, with the prices of numerous cryptos dropping by 60 to 80%. Whilst this is not the first time the crypto market has crashed, the hard and fast nature of this one was felt by many as a considerable number of crypto coins and crypto projects lost significant value within a very short period of time. There were reports of over $1.3 billion of investor funds being wiped out in a 24-hour period alone, affecting over 273,000 investors whose positions were liquidated.
Confidence and interest in anything remotely crypto-related therefore diminished, and, combined with the continuing general worldwide crackdown on short term synthetic trading, we have felt the knock-on effect. The global macroeconomic condition, specifically the resulting double digit inflation seen in various economies has also had a detrimental impact as lower-to-middle income retail traders have seen their disposable incomes disproportionately hit. Despite all that, however, we continue to gain new traders (3,848 new registrations in this quarter, with the actual number of total registrations up 25% year on year).
As for SkillGaming, a separate company and project advised by HW, these continue on a positive trajectory in the ever-growing play-to-earn (P2E) gaming space. We have partnered with many blockchain, crypto and NFT projects and have built stand-alone branded games and entire branded gaming platforms that are integrated with their tokens/blockchains.
During the last quarter, the following partners took full white-labels of the SkillGaming platform:
- Zaddy Inu, for their project ZADDY PLAY (discontinued)
- The JEDSTAR gaming project, with the white-label STARDOME
- KOMMUNITAS, their own gaming universe: KOMNPLAY (Short for “Come and Play”)
- FUN TOKEN. We are assisting the FUN team to build a new ‘XFUN Arcade’
- CAKE MONSTER, with our collaboration resulting in the ‘Monsta Party’ Arcade
- 2CrazyNFT, with the purpose of building their gaming arcade, ‘2CrazyNFT Arena’.
SkillGaming’s aim is to become the go-to partner for game development and “Gaming as a Service” (GaaS), and also a tech provider for the Metaverse with our upcoming Metaverse platform, Escape, which will be offered to other projects as a “Metaverse as a Service” (MaaS).
We also launched our brand new merch store this last quarter, www.skillgamingmerch.com, where users can now get their favourite SkillGaming characters printed on a wide range of high-quality merchandise products. Initially, this includes t-shirts, sweatshirts, hoodies, tote bags, laptop sleeves, mugs, coasters, mouse mats, phone cases, notebooks, caps & facemasks.
Spectre Exchange (SPX)
As for Spectre Exchange, the group’s regulated exchange; this quarter saw the launch of its IEO (Initial Exchange Offering) section where users get access to unique tokens and projects. The first listing was CHAOS, from the DART project, the world’s first true Energy and Commodity production and distribution token that is backed by real-world revenue and assets executed entirely via smart contracts on the blockchain. Profits are distributed to CHAOS token holders who receive ongoing USDC rewards in proportion to the number of tokens held.
We expect at least one new listing on Spectre Exchange every quarter or two, with most listings being tokens that pay rewards based on resource or actual value-based revenue. This should result in a stable and complimentary source of revenue for the group and SXDT.
The group’s focus on R&D continues and areas of resource allocation continue to be Phoenix (which contributes to revenues in certain weeks) and its MEV (miner extracted value) research, and also the Metaverse platform, Escape, mentioned above.
The firm will soon be holding a strategic webinar to discuss the results of the last quarter, the developments that took place during this period and the future of the project. As always this webinar will be open to token holders only and full details will be sent shortly.
Regulatory Notice: Spectre.ai is strictly closed to U.S citizens. Trading and investing involves high risk and you can lose all your money.