NFT Insider – Mar 30, 2022

Welcome to NFT Insider for March 30th 2022, brought to you weekly by Alts.

We’re rushing to get this one out today, since an exciting new NFT is IPO’ing on Rally. But just before we kick-off, a quick announcement:

We’ve launched our very first fund, ALTS 1. This is a chance to get better returns for less risk:

NFTs in 2022

Price data taken from the fractional platforms Rally and Otis

The NFT market has been lukewarm since October last year, and is nowhere near as heated as last summer, according to annual view of the daily sales volume chart on There have been a few spikes, and there was a flurry of activity in January, but the past two months have reverted back to the mid-October levels.

NFT Daily Sales Volume (1 year). Courtesy of

NFTs Last Week

Price data from Rally and Otis fractional platforms

This week, NFT Avatars have come back up, while NFT Art Assets (which were at 85%^ last week, thanks to XCOPY’s Bottom Feeder) seem to have gone down.

NFTs on Fractional Marketplaces

A pair of Meebits opened for trading on the Rally platform this week.

Elephant” Meebit is down nearly 50% from IPO, trading at $4.10 per share for a market cap of $60,000.

Pig” Meebit #15511 is trading $4.95 per share, down $0.05 from IPO, at a $75k market cap.

Nearly all the NFT assets on Otis have declined in the past week. Even with the price declines, these assets are aligned with fair market value. For instance, the FEWOCious NFT is down 40% but its market cap of $28k aligns with today’s market. The Grimes NFT Collection remains at the same price as last week.

All of the Bored Apes on Rally are up compared to last week. “Leather Jacket” Ape #9159 which was trading below floor price last week, is currently trading at $8 per share for a market cap of $312k.

‘I miss your voice call me back soon okay’ is down 40% from IPO, but trading at FMV.

NFTs on OpenSea

World of Women Galaxy (WOWG) takes the top spot this week. WOWG was the biggest release last week. It is the second collection from the World of Women franchise. The collection contains 22,222 images and bridges the WOW collection into a new phase of its roadmap.

WOW Galaxy takes WOW into a new dimension.. literally.

Last week we covered how $APE had a trickle-down effect on other collections. One week later, most of the collections are still benefiting from increased liquidity in the market. The one exception? World of Women slipped from a floor of 11.5 ETH to 9 ETH.

Can the drop in floor price be attributed to WOWG cannibalizing the value of its parent project? It’s possible that the increase in supply diluted the marketplace while also noting that every WOW holder was able to mint a WOWG for free. It’s also possible that the increase in floor price had the anticipation of WOWG baked into it.

The Weekly OpenSea Top 12 – World of Women Galaxy for the win!

NFTs This Week

Fractional Marketplaces

“Holographic” Doodle #6778

When: March 30 @ 12 PM ET
Platform: Rally
Market Cap: $30k
Retained Equity: $0
Inferred Value: $45k
Our View: Buy (Valuation – Rally is offering this Doodle at a 33% discount from the Doodle floor price. Rally continues adding to its lineup of top NFT collections. Doodles is seventh all-time in sales volume on OpenSea. In addition, Doodles can be transferred and become “Space Doodles” within a smart contract. However, you are only allowed to hold a Doodle or a Space Doodle at once, never both. Doodles have been selling above the $30k market cap since March 9th.)

Can’t decide if the theme for this one is Spring or Easter. Or both?

Projects Minting

When we highlight minting projects, we are not endorsing the project but highlighting a few reasons why the project has the potential to be successful. How do we define success? We define a successful project as one that you can mint and sell for a profit or one where you hold and benefit from its utility.

Strangers by Kojo Marfo

Mint date: TBD in April
Price: TBD in April
As you can see, at the moment we don’t have all the details on this one, however, rest assured that announcements with more details will be made on Twitter. All proceeds from the sale will benefit non-profit organizations. Strangers is the debut NFT Collection by acclaimed Ghanaian artist Kojo Marfo. Kojo’s unique artwork is inspired by traditional Akan sculptures, artifacts, and carvings.

We’ve seen NFTs from internationally-renowned artists do very well on the market in the past.

Some of Kojo’s “Strangers” have already been exhibited in galleries across the world

Industry News

Two young men responsible for the “Frosties” rug pull and for scamming nearly $1.1 million are facing 20 years in prison for fraud. The implications for other “creators” who pulled off blatant rug pulls are scary. The duo reportedly was in the process of pulling off another rug pull through Embers.

Ethan Vinh Nguyen and Andre Marcus Quiddaoen Llacuna abandoned their proposed NFT project “Frosties” and absconded with $1 million in investors’ money.

The first NFT Art Gallery in Europe, the Quantus Gallery in London, opened its doors on March 23rd. The gallery includes artwork by Banksy, Damien Hirst, and Pierre Benjamin.

They offer a virtual tour on their website, in case you’d like to have a virtual look at the virtual art. That’s meta

NFT LA is taking place from March 28 – 30. The West Coast takes its flagship NFT event with the anticipation that some projects will be making big announcements (see below). NFT.NYC is three months away.

A who’s who of NFT people will be gathering this week in LA.

And lastly, Azuki has seen its floor price increase by nearly 33% in the last week. There is speculation that with the release of the Bored Ape Yacht Club’s ApeCoin, Azuki is planning an Initial Coin Offering (ICO) of its own, reportedly named $BEAN. The project developers will be making an announcement this Wednesday at the NFT LA event we mentioned above.

Azuki #2026



Horacio Ruiz

Horacio Ruiz

Horacio is a veteran math teacher of the New York City public school system. Prior to teaching, he lived in New Orleans where he worked in sales for the New Orleans Hornets before joining The Institute for Sport and Social Justice to rebuild homes in the Lower Ninth Ward and neighboring St. Bernard Parish. He currently lives in Staten Island with his wife, Alicia, his three sons; Oliver, Henry, and Jacob, and their pitt-mi,x Tipitina. In 2019, Horacio published a biography, The White Knight: Calvin Patterson and the Integration of Florida State University Football.

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