Issue #9: NFT projects hand-picked by Trait Sniper (May 10th - May 16th)
Weekly evaluation of Trait Sniper about upcoming NFT projects highlight
As we mentioned earlier in last week’s Issue#8, the Otherdeed of Otherside (BAYC Land) heat has started to burn out, this results in a significant bearish trend on the market volume since people have run out of liquidity for investing in any other projects.
Let’s review a bigger picture, we believe another reason that results in the downtrend of the NFTs market is the downtrend of the cryptocurrency market in the previous week. The Fear & Greed Index has shown that people are in extreme fear when joining the cryptocurrency market. This means people will begin to wait for a better signal to make any investment, which can also apply to the situation of the NFTs market since NFTs are deemed as the most unreliable assets as it's still new in the cryptocurrency market so when there's a financial crisis, it's the first thing to go.
So in the meantime, the market will definitely dump or go sideways for the next few days or even weeks. And that is why we think this is the period when you should only aim for Tier 1 NFTs projects to consider making any investment.
In this week’s Issue #9, we will only mention some of the top-tier projects out there in the market that investors should pay attention to. This week will be a tough one to make profits so it is important not to “ape in” on any projects that you are not 99% sure about and the main priority is to SAVE YOUR LIQUIDITY!
And remember, it’s important to do your own research before investing in non-fungible tokens. These projects can be hard to be evaluated, and many NFTs are illiquid, meaning you may have a hard time selling your collectible in the future. Just because something is an NFT doesn’t make it valuable; there need to be utilities of some sort to make a collection valuable. This could be access to events, discord groups, or simply art with established clout in the NFT ecosystem. Undoubtedly, many NFT projects will fail, leaving investors with a worthless JPEG.
Let’s take a sneak peek at this week's Issue #9 projects.
1. Metroverse
About: ”Metroverse is a land trading NFT strategy game on Ethereum. Players strategically collect and trade city blocks to grow their economy and earn the MET utility token. A collection of 20,000 unique city blocks make up the Metroverse on the Ethereum blockchain. Each city block is unique - populated with residential, commercial, industrial, and public buildings, and is represented by an ERC-721 non-fungible token. As an NFT, there will only be one of each city block minted, as they are nearly impossible to replicate.”
Official link:
Mint date: May 10th, 2022 (7pm UTC)
Total supply: 50.000 NFTs
Mint price (Whitelist mint): 0.1 ETH
MET mint: Dutch auction starting at a ceiling price to the floor price of 4.000 MET
Trait Sniper’s evaluation:
Core team: Fully-doxxed team
Roadmap: detailed roadmap and also included whitepaper
Community: strong community
Artwork: 3D lands artwork
Utility: decent utility
Metroverse is definitely one of the most worth-waiting projects in May 2022 because of how their incredible works. Following the trend of land NFTs, we think Metroverse will be another big bomb after Otherdeed for Otherside (BAYC Land). However, Metroverse drop point is maybe a little dangerous since it is too close after Otherdeed for Otherside mint, so people might run out of liquidity to mint Metroverse NFTs. But overall we think it should be a Tier 1 project right now in the NFTs market.
2. Beat Bots
About: “Beat Bots is a family-friendly social avatar brand with a collection of 3,333 Genesis (Gen 1) Beat Bots based on the Ethereum blockchain with an ERC-721A smart contract.
With a huge passion and focus for all things of the '90s, the brand plans to create a time capsule by building a utility-based sensory and interactive experience, to bring back and explore the things we used to love as kids—reigniting our memories, celebrating our past and bringing back our inner child.
The Beat Bot's vision is to establish the brand further by developing intellectual properties that are positioned to champion the past, within the present. The vision hopes to create a place where people of all ages can wander and learn about our memorabilia from the past, through digital ownership and our brand's contents and interactive experiences.”
Official link:
Mint date: May 11th, 2022
Total supply: 3.333 NFTs
Mint price: 0.15 ETH
Trait Sniper’s evaluation:
Core team: Fully-doxxed team
Roadmap: decent roadmap with many phases
Community: strong community
Artwork: cute, retro bots artwork
Utility: decent utility
Beat Bots in our opinion is an art-based NFT collection that stands out compared to other projects in the NFTs market for their cuteness and friendliness. From our research and observation, the Beat Bots community and collaboration are not only strong, and interactive but they’re also very friendly and cute like how they designed their artworks. We think Beat Bots is definitely worth the attention that you should consider minting in the next few days.
WEEKLY HIGHLIGHTS
Welcome all back to the weekly highlight section, in this issue, we will recap the OTHERDEED and BEANZ projects as well as some thoughts about the ETH pricing.
Last week, we witnessed the launch of the OTHERDEED project from Yuga Labs. The Otherdeed project is considered the largest project with the number of NFTs in the collection up to 200,000. The Otherdeed for Otherside caused the biggest gas war ever with over 55K ETH burned. and now, let's see how the project is performing after 1 week.
After 7 days, the total volume traded of the project is now at roundly 233K Eth, with 7.5% of royalties the team gained roughly 17K Eth last week. According to Pic1, the total sales number last week is 19810, that number just indicated how tempting the project is.
However, the floor price seems stable at around 3.3ETH after dropping from 4.5. The decrease is quite similar to the ETH decline. Even the Tweet from Elon can't help the bearing trend disappear. At the writing time, the ETH price is at 2658$, an 8% reduction in comparison with last week's price.
Let's wait and see if the price of the project will continue to fall when the entire project is distributed to the community. Hope that with the big bag of money, the Yuga Lab will create an incredible metaverse playground and somehow push the price upward.
Besides the launch of the Otherdeed, the second anticipated event last week was the reveal of the BEANZ collection, which was airdropped to Azuki holders last month.
Currently, the Beanz official is highlighted and a hot trend at Traitsniper app. It just shows that the project is a solidly good one for anyone who wants to grab it at the secondary market. According to the Bubble Maps, the top 10 holders own nearly 1700 NFTs, and for the top 150 holders, everyone keeps at least 10NFTs for themselves. What a strong community. Nevertheless, the Project floor price cant keep above 5ETH. It dropped nearly 50% from 6.3E on May 4th to 3.3E on May 7th. It’s obvious that the bear has arrived in the NFT market.
With the overall downtrend in both ETH price and the NFT market, in the next week, it will be a high probability that a new sell-off is coming so prepare your money bag for shopping for your favorite projects.
Read our previous blogs on how to find a good project.
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DISCLAIMER: This is NOT FINANCIAL ADVICE; we only evaluate NFT projects based on the data given by the community and based on our perspective to help collectors and snipers find the best suitable projects to jump in. Remember to do your own research!