Hey there 👋,

In this week’s newsletter, I discuss:

• Content site multiple squeeze

• Content at Scale 2.0

• The #1 Website Broker on Flippa

• Newsletter platform risk

• Ape Dilution, Nike .Swoosh and Moonbirds Mythics

I’ve just launched the Digital Asset Investor Manual, covering what I’ve learned over the years about the assets I mention in this newsletter, plus more:

I’ve priced it like a tripwire product at $49 (although there is no upsell) and you can check it out here.

Cheers!

Richard Patey - @richardpatey

CONTENT SITES

🪗 Content Site Multiple Compression

Nate at Centurica just came out with another interesting chart showing SDE multiples per business model with data from the second half of 2022:

What it shows is that despite the economy, the median content site multiple still rose in 2022 H2, but the spread from low to high compressed significantly on 2022 H1.

Looking at it like a trader, you’d say the multiple has lower highs but higher lows, with the top listing multiple being right around 4x annual profit.

I’m super keen to see if the upward trend breaks when 2023 H1 data comes in.

⚖️ Content at Scale 2.0

I mentioned in this Monday’s Acquire The Web newsletter, that Content at Scale just had a huge content quality update, all new UI, and now the ability to create long form articles from existing blog URL's, YouTube videos and podcast episodes:

I’m now generating content from a keyword (the standard approach) as well as from competitor content if there is a really epic post that is crushing the SERPs.

But a great use case for investors is being able to generate blog content from a video or podcast library that you acquire as part of a deal, which is likely to rank for long tail keywords.

You can use this link to get 20% more post credits on any plan you choose.

🚀 The #1 Website Broker on Flippa

Thinking of listing your website on the Flippa marketplace? Or already listed, but not getting any serious offers?

Joe Burrill and his team at Just Website Brokerage will be able to change that for you. They don't do listing fees and only charge when they successfully find you a buyer.

If you choose them you will get:

• A trusted account with 10 years of history, $3.5M transacted across 162 deals, 100% positive feedback, and thousands of watchers

• An optimized listing page with all sales info and attachments, plus use of their legal documents used on 100’s of deals

• A listing manager that will field all messages, comments, bids and sales calls with buyers

• Promotion to their email list with thousands of buyers

Thanks to Just Website Brokerage for sponsoring this issue 🙏

NEWSLETTERS

☠️ Newsletter platform risk

I mentioned in last Friday’s Creator Funnel newsletter how Substack had launched their new Notes feature, which is basically a competitor to Twitter. As such, Twitter responded by blocking any tweets with a Substack URL, or tagging Substack in them.

We call this platform risk, and operators on Substack now have one less channel to promote their content (although you can get around it by using a custom domain).

Another risk I’ve been tracking for some time is Substack Reader. As Substack is a platform where all newsletters and users are connected, it can offer a product that aggregates (in a news feed) every newsletter you are subscribed to. I personally use it as have signed up to 100s of newsletters on Substack now and it’s the only way I can cope, but it means that your newsletters are not being opened.

This is an issue when you’re primarily monetizing through sponsorship based on the number of opens. I asked Sean Joshua the creator of a similar product called Meco for his thoughts:

His product doesn’t affect open rates, in fact it should increase them which will improve email deliverability, which is critical to manage when running a newsletter business.

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NFTS

🦧 Ape Dilution?

The number of Yuga (BAYC+) assets seems to be going up exponentially.

Otherdeed holders can now claim vessels and decouple Kodas from their land, allowing users to unlock future gameplay experiences and activations within the new Otherdeed Expanded collection.

Just over a year ago there were only Bored Apes and Mutant Apes, now we have over 200K other assets:

And it is affecting the floor price, with Otherdeed floor at over 1.8ETH a week ago and now down to under 1.5ETH, but if you evolve your asset you will end up with a floor that’s under 1ETH.

Have Yuga Labs assets been diluted too much? wale.swoosh answers:

✔️ Just swoosh it

Talking of swoosh, Nike’s home for virtual collections .Swoosh announced that their Our Force 1 (OF1) Collection is coming soon starting with an airdrop to some members, but they are also building multiple entry points to purchase an OF1 Box. Full details here:

🦉 Does Anyone Give Two Hoots?

The Moonbirds team has finally got round to the launch of Moonbirds Mythics:

The Mythics egg claim will begin April 17th for Diamond-nested Moonbirds, meaning those who nested for a whole year, watching the floor price go from $120K to now $6K.

Moonbirds Oddities (like my one in the logo of this newsletter) can be burned for a Moonbirds Mythics at some point too. The floor of oddities has crashed from 1.4ETH to 0.4ETH over the last 90 days:

And the floor of Moonbirds itself is currently 3.2ETH. I can’t imagine that a Mythic has much if any premium over an Oddity (I actually predict the opposite). I won’t be burning mine.

📧 Other Investing Newsletters

Ok, that’s it from me, until next week, be well and share this newsletter to get my referral rewards:

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. This newsletter is monetized through sponsorship and affiliate revenue.