BackPack FDV > $1B?

I noticed an interesting market on Opinion:
“Backpack FDV above … one day after launch?”

right now, the odds of it going above $700M FDV sit at 28.1%

at the same time, Axios recently reported a $50M raise at a $1B valuation

when smart money buys equity at a $1B valuation, a $700M token FDV starts to look like a major disconnect

on the other hand, equity valuation ≠ token valuation

overall, the odds look interesting enough to keep this one on my radar

NFA, DYOR.