Welcome to NFT Insider — the free version.
We analyze deals, track performance and find arbitrage opportunities across the NFT space.
This doesn’t have as much detail as the paid version, but we still try to make it valuable for you.
This week we look at a new CryptoPunk, Cryptovoxels land, Noundles, and DuneDAO.
Let’s go
Updates from Last Week
The Sandbox
The Sandbox took the top spot for volume on OpenSea last week. With a staggering 100k+ items on OpenSea, the metaverse platform is clearly trending up. In the last month, $SAND has increased in price from $1.63 to about $7.
Bored Apes
Rally recently acquired a “Laser Eyes” Bored Ape #4612 that should be offered in the near future at a $700K market cap. This extends Rally’s continued focus of offering CryptoPunks and Bored Apes, complemented by its offerings of Chromie Squiggles and Meebits.
Decentraland
Also of note, Decentraland was fourth in volume last week. Its token, $MANA, has also seen a significant rise in the past month. The trends appear to show a significant interest in the metaverse and its future development.
Any coincidence with this company’s announcement from about a month ago?
Wolf Game
At its peak, Wolf Game wolves had a floor of 7 ETH (!). In the past week, prices have cooled to about 3.5 ETH. The game is still wildly popular, with an average of one transaction occurring every minute on OpenSea.
Wolf Game has ushered in a new wave of “Protect From Evil (PFE)” games that includes Fox Game and Bear Game.
While it’s not a new concept (the Noundles and Feudalz platforms have been in development for months), Wolf Game introduced the NFT community to a concept that will be replicated — for better or worse — by both new and old projects in the months to come.
Chromie Squiggles
Rally offered Chromie Squiggle #5847 last week which was fully funded through its Early Access Program on Nov. 25.
Squiggle #5847 is one of 11% with a “fuzzy” trait. It was fractionalized with a market cap of $66,000.
But yikes — the current floor is just $43,000. Here’s our analysis of the drop. Their time in the sun may be ending.
Happening This Week
CryptoPunks
This week, Rally is offering CryptoPunk #5883. It has some provenance to it as it once belonged to well-known NFT collector Pranksy.
This Punk ranks in the top 10% in rarity among all Punks. It is one of 156 with a silver chain, one of 186 with a fedora, and one of 282 with a “chinstrap.”
This Punk’s rarest attribute is its silver chain, followed closely in rarity by its fedora. Rally purchased the asset for approximately $500k and the offering is for $600k.
Pranksy bought “Fedora” Punk for a grand sum of $45 in Sept. 2019 and sold it four months later in Jan. 2020 for…..$87.
While the provenance of the Punk once belonging to Pranksy is important and interesting (I mean, $87?!), according to Larva Labs Pranksy has sold a total of…
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New IPO’s
Fedora CryptoPunk #588
- Market Cap: $600k
- Inferred Value: [Insiders Only]
- Retained Equity: 60k (10%)
- Platform: Rally
- Date: This week
- Recommendation: [Insiders Only]
Chromie Squiggle #2241
- Market Cap: $99,440
- Inferred Value: [Insiders Only]
- Retained equity: 59% (approximately 40,700 shares will be available for purchase)
- Platform: Otis
- Date: Dec. 1 @ 6 PM EST
- Recommendation: [Insiders Only]
Undervalued assets analysis
Cryptovoxels Land
Undervalued Assets for Insiders only
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Assets to watch
Noundles
Assets to Watch for Insiders only
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Industry news
In a recent win for decentralized autonomous organizations (DAOs), Dune DAO raised $4.2 million to win the manuscript of the never completed Dune film — based off of the legendary sci-fi novel. Prior to auction, Christie’s valuation of the manuscript was between $28k – $40,000.
Dune DAO felt confident with bidding as it had secured more than $750k in funding. However, bidding went over the amount raised. At that moment, a core member of the DAO stepped in and offered $2.3 million.
The group was able to win the auction at a staggering $3.2 million. It appeared that at some point a member had let its top price slip. A loss would have offered a second public setback for DAOs, but now with the asset in hand, it can get to work.
Dune DAO must still take into consideration its governance structure, voting procedures, and legal fees as well as storage, maintenance, and digitization of the manuscript. The DAO also now needs to repay the core member who entered the auction on its behalf.
So for the time being, the manuscript legally belongs to him.
Hey, at least the hedge funds stayed away!
Until next week, happy investing!
– Horacio
