Could this NFT-DEFI token pull a 10X? + Whitelist opportunity for globally recognised artist NFT project.

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Weekly Market Summary

Another week of positive consistent movement in the market. There has been a slight increase in volume which recovered well from a dip over the weekend. Decreased listings have risen well from 27% (of projects) to 48% showing the continued conviction in the market. Floor Prices have dipped ever so slightly following a steady increase over the weekend. The consistency shows there are still plenty of opportunities out there to invest into projects at reasonable entry points.

Breaking News

Further to our previous updates regarding the ongoing conflict in Ukraine, the country is set to sell NFTs that “memorialize the Russian invasion”. This is according to the Vice Prime Minister.

Former South African president Nelson Mandela's original arrest warrant was made into a NFT. The item was sold for $130,000 in an auction sought to fund a heritage platform that affirms South Africa's struggle for democracy.

NFT collector Rock Dust has made a $1.4m mistake by accidentally listing his Ether Rock for 444wei instead of 444eth. The listing was immediately snapped up by a Bot. When selling any of your NFT items please take your time to check and double-check!

Weekly  Winners

Clone X

A Blue Chip Pick in our 28/01 newsletter Clone X has seen some recent bullish movement. Following Nike acquisition of RTFKT we advised this project was one of the safest holds.

With the upcoming reveal of MNLTH (RTFKT x Nike) this has led to an increase in the stability of all things associated to the group.

When we advised in our newsletter 28/01 the floor sat at 9eth and has risen considerably since with a few dips along the way. However, this project remains extremely stable and we would expect to see some more positive price action. The floor price has risen 4eth in the last 3 weeks.

Floor price (at time of writing): 14.6ETH

7-day volume: 3921Eth traded

7-day listings: 31

% of supply listed for sale: 9.02%

Cool Cats

With the upcoming launch of their game, the project has seen some very positive floor movement this week. The project are hosting a mass testing ahead of the launch which the team describe as “the last piece of the puzzle”

With so many P2E games out it will be interesting to see how the project fits in, but with a bullish community and strong potential rewards it would be unimaginable to see this aspect of the roadmap fail.

The floor has increased by 2ETH this week alone!

Floor price (at time of writing): 9.25ETH

7-day volume: 1573eth traded

7-day listings: 82

% of supply listed for sale: 5.2%

Weekly Losers

Non-Fungible Miners

This is a project that launched it’s whitelist sale on 27/03 and it’s public sale 28/03. Those that did a little bit of research into the project would have been concerned at the lack of detail in the roadmap available on the website.

Further concerns were raised in the Discord and within the wider community about the cost to mint the 5999 collection. The price was set as 0.12 for whitelisted members and 0.14 for public. Prices over 0.1 really require a lot more from the project and it is no surprise to see the project struggle following mint.

Only 618 items have been minted so this is just over 10% of the total collection. The current floor price is pretty much equal to whitelist sale and less than the public price.

Floor price (at time of writing): 0.122

7-day volume: 2.8eth traded

7-day listings: TBC

% of supply listed for sale: TBC

As always, prior to minting any project, please do your research into the projects to ensure you do not lose vast sums of money.

Weirdos

The project launched on 07/03 and saw some initial positive floor price movement with a potential of 4x in the week following the mint.

Unfortunately for the project, there appears to be a distinct lack of a Roadmap on the website so the known utility of the NFT is uncertain.

The community seems to have lost their faith in the project which has seen the floor price crash pretty rapidly from the 4x gain back to the mint price within 2 weeks.

The art does not look too bad so there is the potential for some slight improvement if a decent Roadmap was to also follow, however, investors buying at the heights following mint will only be disappointed in the returns so far.

Floor price (at time of writing): 0.09ETH

7-day volume: 166eth traded

7-day listings: 493

% of supply listed for sale: 10.74%

Floors to Watch

Dour Darcels

A project that we have shared with you on multiple occasions featuring in the alpha section and weekly winner section. The project has been experiencing some turbulent floor movement since reaching the top floor price of 1.25eth.

The project’s collaboration with Collete was somewhat underwhelming with the auction not being as successful as the team and community had hoped. However, what does remain is a very bullish community and very slick unique art.

There have been cries from the community for some action to be taken by the team behind the project to aid in moving this project to the next level. All the fundamentals are there to take this project to the next level, all that was missing was the execution.

The team provided the following update on their twitter:

We are strong believers in this project and believe the current dip could prove to be a good entry point.

Current Floor - 0.56

Meebits 

The project which was recently purchased by Yuga Labs, the creator of Bored Ape Yacht Club has experienced some retracement in floor price following the initial boom.

The huge upturn in price from 2ETH to 7ETH was to be expected and now we enter an interesting time at where the floor price matures.

With the news breaking last week in regards to the Yuga Labs land sale and the team managing to raise $450 million it is unknown so far as to what capacity Meebits will be involved. However, following the recent acquisition which was arguably the biggest NFT news of recent time it would be prudent to think that Meebits would immediately be put into cold storage.

As such, this is definitely a project to keep your eyes on for the time being as everything associated with Yuga Labs is in extremely safe hands.

Floor 5.69Eth

Alpha 

Takashi Murakami NFT Launch.

You can enter the lottery to win a public sale whitelist spot for the highly anticipated NFT launch from Takashi Murakami. We previously mentioned this project in our Alpha section a few months back. Link below to register.

Click here to enter

Fewoworld

Fewocious is a 19-year-old Seattle-based artist who has taken the Art and NFT world by storm, he has amassed 118k followers on Twitter and his pieces are highly regarded across the NFT & Art world. Just last October he famously sold his 1/1 piece ‘Mr. Misunderstood’ for $2.8M at Sotheby’s auction house and has since been hailed as one of the most successful artists in this space.

His work is centered around the struggles he faced in childhood and growing up, it is clear he injects a tonne of passion & emotion into his work which translates to his incredibly bold and recognizable style. Not only has he sold 1/1 pieces for millions of dollars but has also been known for crashing the Christie’s website where collectors rushed to grab one from his NFT series ‘Hello I’m Victor..and this is My life’.

Since then he has recently released a new Twitter page called Fewoworld. The first tweets dropped just today from the account. Whilst at this stage there isn’t extensive detail on how Fewoworld will take shape, what we can see from their Twitter page is that the project will be a ‘Universe created by Fewocious and the web3.0 community’ and a place where ‘where emotions run free and imaginations run wild’. Given the success of Fewocious and his prominence in the art, NFT, and Web3 space its quite probable this project will be a success and have a lot of hype around it. We strongly recommend following ‘Fewoworld’ on Twitter to ensure you are ready for updates and understand how you can take part.

Official Links

Fewocious Twitter

Fewoworld Twitter

Token: $JPEG

Project: JPEG’D

We don’t often discuss tokens within our newsletter though this one is worth a mention. JPEG’D is a Defi + NFT project which is a growing trend within the crypto space the native token is $JPEG. Given the rise of NFTs, Defi communities & developers are looking for innovative ways to enter the NFT space and build projects to support the ecosystem.

JPEG’D aims to allow holders of high-value NFTs starting with CryptoPunks to deposit their NFTs into the protocol and be able to take out a loan against the value of their NFT. Users who deposit NFTs will be able to take a % loan to value sum from the protocol in the form of the protocol’s native stable coin $PUSD while still retaining ownership of the NFT, the protocol ‘JPEG’D will retain the NFT as collateral. If however, the value of the NFT drops to a certain level the protocol will liquidate the NFT in order to protect the protocol from losses. This opens up a very attractive offering to holders of high-value NFTs, the protocol will help make non-liquid assets more liquid. The reason we bring the $JPEG token to your attention is that it currently sits at just $100M market cap with a token price of $0.004873. Given the value of illiquid NFTs (Crypto Punks alone) is in the multi-billions and if this project launches its protocol successfully we would expect the price of the token over time to likely be worth 5-10x of its current value today. How quickly that will happen we do not know and you should also do your own research before making any investment.

Official Links

Twitter

Coingecko - $JPEG

If you would like to take a deep dive into JPEG’D then Ryan_0x on Twitter has crafted a comprehensive thread on the protocol and token.

Thanks for reading. See you Friday.