A New Rev-Share Opportunity as Alder Mages Morph Into Dark Mages

Jeff Opdyke (Jeffo)
8 min readApr 3, 2023

I was part of a slow rug and never even knew it.

Granted, none of us know a rug is a rug in the moment. It’s only after a rugger has rugged us that we can know we were rugged by a rugger.

The would-be rug in question is Alder Mages — the now-legit NFT project best known for its doxxing services that are widely used across the Solana space today, and now in use among Aptos and ETH projects as well.

Back in the day — early last year, when the project first minted — the Mages were designed to be a slow rug. The idea was that the founder was aiming to slowly drain away the value through a liquidity pool that existed at the time for the Tome token, and then abscond with the rest of the cash.

But in stepped the other two founders, including one who goes by the name Gray (Mage) on Discord, to say, “No fucking way! We have something here that could be really good.” And, so, they kicked out the scofflaw (he still made off with about $15,000), grabbed control of all the assets, and set the Mages on a new course to respectability, and it turns out profitability.

Now, the Mages have another new lease on life.

The original Alder Mages have recently morphed into the Dark Mages, a new deflationary, revenue-sharing collection. That process is still ongoing and will remain open until all the possible Dark Mages have been created through the burning of current Mages, ritualistically killing off Pets and Tomestones, and spiced with a bit of Dark Tome in-house currency.

Ultimately, owners of the current collection of about 1,666 Mages will generate through burning a very limited collection of, at most, 888 Dark Mages.

The New Dark Mages

The New Dark Mages

I say “at most” because the likelihood is that all 888 possible Dark Mages will never actually exist because current owners don’t have all the ingredients necessary for the burning process, and many won’t go shopping to buy the NFTs they need. (More on all of that in a moment.)

These new Dark Mages span three tiers, all of which share to varying degrees in the revenue stream that the Alder Mage team earns through doxxing and biz-dev services it offers to other projects. The…

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Jeff Opdyke (Jeffo)

Former Wall Street Journal writer living in Prague. Crypto and investing. Editor Global Intelligence Letter. Also on Substack: jeffoalpha.substack.com/