NFT Insider – Nov 2, 2021

Welcome to NFT Insider — the free version. We track performance and find arbitrage opportunities across the NFT space.

This version doesn’t have all of the best info as the paid version, but we still try to make it valuable for you.

Good news: Our Discord is now live and free for all our members. Join the conversation.

Last week’s NFT performance

Last week was a quiet one for NFTs on the big two fractional sites. But investors on Otis have seen great returns on their assets!

  • CryptoPunk #543 has seen a 995% increase in price, rising from $1 per share when it was offered in early August to $10.95 per share.
  • Chromie Squiggle #524 rose to trade at $2.10 after trading for as low as $1.50 the prior week.
  • Also on Otis, the Grimes NFT Collection has held steady at $30 per share – a $20 rise from its IPO.

Rally’s assets have yet to hit the secondary market.

Note: Prices haven’t yet updated on our site, we’re working on it.

CryptoPunks by a WIDE margin

No surprise here, the top two NFT projects by volume were CryptoPunks and Bored Ape Yacht Club, with the Punks trading with the greatest volume by far. This lends credence to the thought that money right now is going to the bluest of the blue chip projects.

HeadDAO finished its second week after its IPO with the fifth highest volume despite a 7-day trading volume that has decreased by 28%. HeadDAO is fueling its run with a blue chip NFT vault and issuance of its $HEAD token. It appears to have decent value at 0.37 ETH.

The Shiboshis, another project with a utility token, is last week’s biggest mover outside of the CryptoPunks with a 122% volume increase over the previous week. It appears that utility tokens have arrived in full force as the “in thing” for NFT projects.

New IPOs dropping this week

Curio Cards on Rally

Rally will put Curio Cards #1 – 10 up for initial offering on Nov. 2 at 12 PM EDT. The Curio Cards predate the CryptoPunks and CryptoKitties on the Ethereum blockchain. They are the first Art NFTs on Ethereum.

If we’re looking at OG projects of the blockchain, this certainly qualifies as one. So why are these cards not as valuable as the Punks or Kitties?

There were 30 Curio Cards made with a fixed supply of digital prints ranging from 111 to 2,000. There are a total of 29,700 cards.

Cards 1 – 10 are available on OpenSea with varying degrees of supply and value. We value Cards 1 – 10 to be worth a collective 11.8 ETH based on sales from the past week on the OpenSea market.

Details

[Details for Insiders only]

Recommendation

[Recommendation for Insiders only]

Curio Card #1

Undervalued assets currently trading

Several PFP projects are beginning to sink in price as investors in the space are speculating that an increase in value in cryptocurrency is pulling money toward the crypto market.

As a result, NFT money is pouring into blue-chip assets making undervalued assets difficult to come by.

Assets to watch

HeadDAO

Available on OpenSea (Floor: 0.37 ETH)

HeadDAO is run by a 16-year-old. Could that be a good thing?
  • #5 on OpenSea by volume last week. HeadDAO owns a NFT vault that includes two CryptoPunks, a Bored Ape, and a Fidenza.
  • The floor price has seen a sharp correction from just 0.6 ETH five days ago. However, total purchases and the Discord community are very active.
  • On Oct. 24, the average sale price was 0.84 ETH, the average sale price has dipped to 0.45 ETH at the end of October.
  • The art is a derivative of Nouns DAO, but the two are not related. What makes this NFT special is its access to the decentralized autonomous organization (DAO) and its blue-chip NFT vault.

[1 more asset to watch for Insiders only]

Industry News

NFT NYC

NFT NYC begins in earnest today with some of the most influential NFT creators and artists in attendance. There will be more than 500 speakers and programs will discuss everything from Tokenization of physical collectibles to Protecting the Ocean with NFTs.”

It will be interesting to see what kind of developments come out of this meeting of the minds. Right now, tungsten cubes are hot in the NFT world. Your guess is as good as mine…

Jungle Freaks (plus an apology)

On a more serious note, two weeks ago we put Jungle Freaks by George Trosley as an “Asset to Watch.”

On Monday, racist cartoons published by Trosley nearly 40 years ago started circulating around the internet. The reaction has been swift.

The floor price fell from 1.2 ETH to as low as 0.01 ETH. As of this writing it currently stands at 0.27 ETH.

Note: Here at Alternative Assets, we take this stuff very seriously. We were unaware of the cartoons published by Trosley, and would not have mentioned this project had we known about the controversial cartoons.

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Author

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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