Undervalued NFTs
NFT markets have been ambiguous recently. The ApeCoin airdrop had an impact, and $APE being listed on major exchanges meant new money could enter the NFT space, with blue chip collections receiving a pump. The Azuki Something Official airdrop has had an effect too.
Expectations are that this action should trickle down to smaller and newer projects, but there’s a sense of hesitancy. Coupled with the fact that ETH is well over $3K and could go higher, it might be that people are less inclined to let go of their ETH.
And at the same time, there’s a constant stream of new projects, leading to saturation. Some people say there’s too much trash launching, but the opposite is also true: a lot of launches look good quality but not obviously distinctive, which also might lead people to sit things out for a while.
A result of all this is that there are plenty of interesting collections that minted out, but are sitting on secondary at low prices. It’s a fair bet that some of these projects can pick up and run in the future, and now might be a good time to speculatively collect what could turn out to be bargains. Here are 8 undervalued NFTs that would make a great addition to anyones portfolio.
This collection is below 0.1 ETH, has cute, attractive artwork (if you’re into that kind of thing), the Q2 roadmap includes Worldwide Webb game integration, and it feels collectible. The community seems strong, and there are waves of hype and floor sweeping.
Also in its favor is that one of the founders is doxxed, and it’s supported and admired by some influential creators. On April 15th it’s scheduled to release Cosmokush, a CBD brand (but with shipping limited depending on legality).
This one picked up a lot of momentum last month, climbing to a floor price above 1 ETH, and since then ranging around in the 0.3 to 0.7 zone, with some rarities going for a lot more than that.
Setting this one apart is the community–which is incredibly dedicated and creates real momentum through the ups and downs–along with early interest from celebrities and influential people in the NFT space.
And most importantly, there’s the design. The retro toons style has a lot of degens hooked, and the whole drop has the feel of a classic PFP project, keeping things simple and to the point.
3. Weather Report
Despite having clean design, a big event called Weather Fest, and an all round professional approach, this one hasn’t yet gained the traction that might have been expected, but sometimes these things take time. It’s certainly worth checking in on, as the quality is not reflected in the current low prices.
Back in February, Weather Report founding artist, Dentin, left the project acrimoniously, and created Dented Feels. This project has a very similar visual style to Weather Report (for obvious reasons), and picked up a lot of support.
The histories of the two projects are interlinked, so if you’re interested in Weather Report then it makes sense to keep tabs on this one too.
These have been climbing in price, and what you get with this one is a ton of utility and future potential. The phase module NFTs give you entry to the Haus ecosystem and its projects.
There’s a slightly minimal whitepaper, but more concretely, Haus is behind the Muri project, which is high quality and is maintaining a healthy presence.
This project is interesting for its distinctive art, and the fact that it’s the work of Dirty Robot, an illustrator and comic artist who has a big Instagram following.
The floor price is below 0.1 ETH, and there are indications that holding these will bring future rewards, with plans for apparel production. This project isn’t going out of its way to generate hype in the style of, say, Loveless City (another recent art project), but if you like the style it could be worth picking up.
There was big news in the Cardano NFT world, with Clay Nation announcing that it was partnering with Snoop Dogg, one of the biggest names in not just music but, more recently, NFT collecting.
The news caused an immediate pump in the price of Clay Nation NFTs, and DEADPXLZ (along with offshoot metaPXLZ) and Chilled Kongs followed too. However, keep in mind that Cardano NFT volume is still only about 3% of Ethereum NFT volume, so there’s a huge amount of potential for further growth.
For reference, the Clay Nation floor is currently around 3000 ADA, which is still only a little over 1 ETH, and even the most valuable collection, SpaceBudz, has a floor around 6100 ADA, or just over 2 ETH. Basically, prices are way off what we’re seeing on Ethereum, but if more volume comes in then that could change.
8. Yummi Universe
A Cardano project that’s very highly regarded but which hasn’t yet seen the kind of pump that other collections have received, is Yummi Universe.
This is surprising since Yummi last week released its litepaper, which details play-to-earn gaming, NFT staking, and the launch of the $YUMMI token.
This one definitely has a lot of potential, not least because of its status within the Cardano NFT space, its capacity to become a solid brand, and the community and goodwill it’s built up.
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