Undervalued NFT Tools You Can't Miss!

May 06, 2022

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NFT’s can be highly illiquid markets, causing sharp drops in prices due to changes in narratives and trends.

Weekly Market Update

As the above chart shows there was a consistent downturn in the performance of NFT’s this week. All three of the above statistics dropped at similar rates albeit there has been some recovery from the bottom end numbers witnessed. We believe following the liquidity drain of last week’s land sale that there will continue to be a down-trend within the space.

Breaking News

Further to our in-depth review of the Otherdeed Sale where we stated there were many lessons for the Yuga Labs team to learn, especially surrounding the minting process which left many in the lurch for hours and more than many out of pocket, we have a positive update. The team has refunded gas fees to everyone who made a transaction that failed due to network conditions caused by the mint. A copy of the announcement can be found here.

Elon Musk changed his profile display picture on his Twitter page to 101 Bored Apes. This caused a sudden uprise in the price of $APE from $14 to $17 before quickly coming back down.

Bentley University is now accepting Bitcoin and Ethereum as a payment method for their tuition.

Weekly Winner

This was a recent floor to watch and it is now a weekly winner.

10KTF is not your standard collection. We stated that smart plays are possible on this one if you are able to identify parent collections that are going to do well within the 10KTF collection or where there is going to be a demand for unique accessories, such as backpacks, or hightops. There are a variety of opportunities for you to explore in the 18.4k collection. What we have learned is that Genesis is KING and will hold the most utility & value moving forward. If you are looking at picking up a piece from the collection, ensure that under the traits section that ‘Genesis’ is present.

Over the last week, the project has been consistently trending and has witnessed some solid volume in a liquidity drained market, and has risen strongly in price. However, as previously advised, the floor price is not the greatest indicator of where value is derived given the variety of different collaborations. There are very much different floors for different accessories / sub-collections such as Ape or Mutant within the overall 10KTF collection. An example of a recent amazing flip can be seen here 9527 The item was a Mutant Backpack with both Genesis & Epic property traits, which was recently sold for 36ETH and bought for just 1ETH.

Overall, this is a solid project and has a very committed community. The story & lore behind Wagmi San & 10KTF is also very interesting & keeps the community guessing what’s coming next. With this in mind, we believe is going to continue striving given its uniqueness and upcoming utility. It is a well-deserved weekly winner.

To keep up with the project we recommend joining the discord and networking with some of the OGs in the discord.

Weekly Loser

Another day, another 3D animation PFP that has failed to live up to expectations.

This week’s project is Forever Bots.

As per their bio, ForeverBots is a generative looping project by Swedish artists Oscar Pettersson and Kevin Olberg. 5K unique NFT companions. All animated. On repeat. Forever.

The project took a bold strategy of not having a discord so was unable to create that strong community vibe. The project did boast strong Twitter numbers but it is far harder to keep a community vibe on that platform.

The project minted to whitelisted holders on 04/05 at 7am UTC which is strange given residents in USA would likely have been asleep.

The mint price was 0.14 + gas and it is fair to say the same has been a struggle. The floor floated around the 0.2 mark and has now settled at 0.16.

Out of the 5000 items available only 1600 have been minted.

All in all, this further epitomises our views on the market trend.

Market Summaries by @DAWA9042

Floors to Watch

PXN has been slowly gaining momentum since mint. We spoke about this project, last week, in our alpha section. The project bottomed out under 2eth with a looming whitelist sale which would more than double the supply. However, this went smoothly and we are now seeing PXN race towards 4eth. There are just 300 items listed until a 5eth floor and with the current momentum, We think PXN has a very good chance of reaching that. The project has already seen 17,000eth traded in just a few days. The rest of the market looks quite bearish at the moment and PXN is one of the only projects performing well so it is definitely one to watch.

The Pre-Mint collectors pass is beginning to become undervalued as the floor drops. It has dropped from around 2.2eth to 1.6eth in a matter of days. We can see it dropping further as this bearish sentiment continues. For a utility pass like this one, a 1eth entry would be a very nice long-term hold. The pass itself will also generate you passive income from all the exclusive whitelist raffles that you will be able to enter. The dip itself does not come from holders lacking conviction in the project. There are just 361 listings on Opensea and less than 200 sales until a 3eth floor. Any positive news will send this one flying back to all-time highs. Look for an entry around 1eth.

Official links

Alpha

If you missed Alpha Sharks then you don’t want to miss this one. Getting a whitelist is scarce so looking for an entry on secondary would be viable. Flippr is an upcoming NFT utility platform that comprises of Flippr Tools, Marketplace, Node, and Community. Each of these pillars is designed to deliver holders practical utility underpinning long-term value. The project is being built to provide Access Pass holders with analytical information through Flippr Tools and reward holders with the Flippr Marketplace ($FLIP), Flippr will be a standalone utility platform that encompasses the functionality of several tools already on the market in one convenient package. We will include a link to the whitepaper here. A comparison table will also be included below:

Flippr Official links

Floors to Watch and Alpha written by @Walty

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