Let’s be patient.Disclaimer: I’m not saying there are only positives about this stock. I’m not saying there aren’t legitimate concerns. I’m not saying this will be the Netflix of gaming. But I want to tell all holders to be patient to see what the actual uptake of subscribers will be over the coming weeks. Be patient to let this young company roll out their new product and try to convert their pre-registrants into paid subscribers. Be patient to see how MTN Arena is doing. Let's be patient.
Just to counter some of the worst negative arguments I’ve seen being repeated:
Bad argument: EM1’s platform has no value because it only contains free-to-play single-player HTML games.
Counter-argument:Millions of people around the world spend a lot of money on free-to-play single-player HTML games; especially if the game is on a platform that has a community. (Example: Farmville was worth $300Mil USD in 2010, when it was a free-to-play single-player game on Facebook; not even a mobile app).
Bad argument: Miggster should have enabled all 11M+ pre-registrants to become paying members on 14th November.
Counter-argument: Whilst it would be nice to be able to pull that off; it is an extremely unrealistic expectation for a small company to do. When EM1 and MTN were launching MTN Arena, it “went live” at least 1 full week late (supposed to be June 2020, but went live on 7th July).
Bad argument: The target market can’t afford $12 a month.
Counter-argument: Are you kidding me? There are millions of people within the target-market that can definitely afford this; even if they arguably “shouldn’t”. Millions of people spend money on free-to-play online games. Millions of people spend money on lotteries and raffles and competitions.
Bad argument: Why haven’t I heard about this on popular 1st world gaming communities?
Counter-argument: Because it is a very, very young product which is being deliberately advertised through non-traditional marketing channels.
Bad argument: EM1 and/or TIM and/or C1 are just in it for the hyped pre-registered share value, and have been/about to pump & dump.
Counter-argument: This one makes no sense to me at all. Financially these companies will all be much better off if Miggster achieves more on-going subscribers. They will be doing their best to make this happen because it is in their best interest. Not only does it generate revenue for them, but it also adds product-legitimacy to TIM and C1 and helps them to be seen as an MLM instead of a Pyramid-scheme.
Bad argument: C1's member-base aren't gamers and therefore won't subscribe to this product.
Counter-argument: Even if C1's member-base aren't gamers, they are being incentivized to sign-up to Miggster so that they can earn money through selling the product to others. Considering C1 boasts 10Mil+ members before Miggster, I would argue that C1 are quite good at making "sales". Why can't they make these same sales with the Miggster product?
(20min delay)