Mackum's post might be painful for some holders to face up to, but it's difficult to argue against his observations.
How FFG is managed is entirely relevant, because it is led by the same guy. You only have to spend a few minutes skimming FFG's quarterly reports and dip into the threads to see that both companies are suffering very similar issues. Is it not obvious that Kin should shoulder a lot of the blame?
If you pick 5 random Web3 gaming companies to follow, you'll soon notice the common traits and the ingredients for success (moving at pace is one). This stands in stark comparison to what i've observed following ICI over the past year. It's hardly alarmist to state that ICI are appalling at comms and poor at execution. It may not be solely Kin's fault, but he's not covering himself in glory. Why should the market put any trust in him?
The question above about the game launches illustrates how poorly ICI is being managed. There's work being done in the background and it's not as if ICI is a scam operation. However, the heavy selling over the past week, making new 52 week lows, underperforming the market (and the crypto bounce), the continuation of a steep Stage 4 downtrend and the breaking of the 5c key support level, is vital technical information that is usually a precursor to bad news or deteriorating fundamentals.
I don't have the faintest idea when these games will materialise nor whether they will be any good. That in itself is a red flag for any potential investor. Moreso, when the company claims to have major growth ambitions. But in the absence of management updates, the price action is confirming my own research that MG and the other important game launches are not imminent. After all, 12-18 month delays is hardly uncommon in the gaming industry.
The fundamentals have weakened. It is irrelevant whether holders choose to see and acknowledge this or not. A simple look at the chart tells you that it's been a dissapointing 12 months and a little bit of research - as advocated by my mate Crazy - reveals some of the reasons for the sell down (other reasons will not be known until it's too late).
The price will bottom at some point and there'll inevitably be some pumps and relief rallies. Yet, there remains a valid concern that poor management will impede a steady recovery. Many decent companies with promising prospects have been destroyed by subpar management.
