Open Edition Meta Taking Over?! – NFT Market Analysis

Exploring the Boom in Open Sea NFT Projects

Hey guys, Pickle Rick here from Llama Labs, back with another episode of “Sailing the Open Sea.” In the past week or so, we have seen a big boom in NFT projects that started out as open edition mints on platforms like Manifold. Many artists are slowly branching out into Web 3 with these cheap mints, gaining recognition and high values for their pieces. In this article, we will dive into some of these projects, including the Sewer Pass and Digi Daigaku, and discuss their potential for growth and investment opportunities.

The Sewer Pass: Defying Logic and Accumulating Value

One project that has caught our attention is the Sewer Pass. Despite having a supply of 23,000 NFTs, only 650 are listed for sale. This scarcity is due to the fact that investors and ape holders in the Yuga project are stacking up on Sewer Passes, aiming to achieve high scores and collect the most rare possible Mecca dogs in the future. The price of Sewer Passes has been fluctuating between 2.6 and 2.8 ETH, with occasional peaks above 3 ETH. This success could potentially indicate a trend for other projects with higher supply, as investors may reinvest in similar projects. Keep an eye on the Sewer Pass for potential dips and other investment opportunities.

Independent Artists and Deflationary Mechanisms

Another trend we have noticed is the rise of independent artists implementing deflationary mechanisms in their NFT projects. One such project is “Proceed with Caution,” which recently minted NFTs with a unique deflationary mechanism. The project started with a blue NFT available for minting at a low cost. As the project gained popularity, the value of these NFTs increased, with the red NFTs selling out quickly and reaching a floor price of 0.9 ETH. The remaining collection is still available for purchase, and the burn mechanism is set to end soon. Keep an eye on this project for potential profits and the impact of full sets on the market.

Jack Butcher’s Checks: A Rising Star

Jack Butcher’s Checks project has also been gaining traction in the NFT space. With a floor price ranging from 0.2 to 0.3 ETH, these NFTs have seen a recent surge in value, peaking at 0.5 ETH. The project is set to undergo a burn, which could potentially lead to a supply shock and further increase in value. Keep an eye on this project for updates on the burn and potential investment opportunities.

Digi Daigaku: A Free Claim with Profit Potential

Gabriel, the creator of Digi Daigaku, has been generating a lot of buzz around his project. With a free claim available, many investors are looking to profit from the Digi Daigaku villains. Currently sitting at a floor price of 0.55 ETH, these NFTs have the potential to generate profits that could flow into other collections. As the claim period progresses, keep an eye on the market and potential announcements that could impact the value of these NFTs.

Toshi’s Project: Overhyped but Still Promising

Toshi’s project, created by artist Chuck Chi, generated a lot of hype but also faced over-allocation issues. With frequent raffles and a high demand, many investors experienced FOMO after missing out on the initial mint. However, the project’s value has been steadily declining since then. Currently, the floor price is around 0.1 ETH, but there is potential for a rebound with the upcoming reveal and announcements. Keep an eye on this project for potential investment opportunities.

Frequently Asked Questions

Q: What is the Sewer Pass project?

The Sewer Pass is an NFT project where investors aim to achieve high scores and collect rare Mecca dogs. It has gained popularity due to its scarcity and potential for high returns.

Q: What are deflationary mechanisms in NFT projects?

Deflationary mechanisms in NFT projects involve burning or reducing the supply of certain NFTs, increasing their rarity and potential value.

Q: What is the significance of the Digi Daigaku villains?

The Digi Daigaku villains are highly sought after NFTs that can be claimed for free. They have the potential to generate profits and impact the value of other NFT collections.

Q: Who is the artist behind Toshi’s project?

Toshi’s project is created by artist Chuck Chi, known for his work on Alpacadabras. The project has faced over-allocation issues but still holds promise for potential investment opportunities.

Q: How can I stay updated on these NFT projects?

To stay updated on these NFT projects and the latest trends in the market, follow artists and collectors on Twitter, join art communities, and keep an eye on NFT marketplaces like Open Sea.