Let’s describe our NFTs market current situation in 1 word: REKTED!!!

As we predicted in last Issue #9, the NFTs market would likely crash due to the down-trend of the cryptocurrency market as a whole. First, let’s break down the market situation and why it dumped so hard:

1. The saturation of the cryptocurrency market:

The cryptocurrency market since early 2022 hasn’t been doing well compared to late 2021, many people believe this is because of the “Cryptocurrency Bubble” effect similar to the great crash of Bitcoin in 2018. And the fear of the Cryptocurrency bubble effect has led to the down-trend of Bitcoin since its ATH (all-time high) at 68.000$. This definitely affects Altcoin (especially Ethereum) resulting in the crash of the NFTs market since it’s the least important asset to hold on to.

2. The Collapse of Terra-Luna led to tremendous fear among investors:

The stable coin Terra USD - which was pegged to the US dollar via a complex algorithmic relationship with its sister currency Luna - fell to less than 10 cents. The collapse resulted in Luna falling to "virtually zero", down from an all-time high of $119.51, and wiped out almost $45 billion of market capitalization over the course of a week. This led to tremendous fear among crypto investors who are already suffering fear from the saturation of the cryptocurrency market. And of course, this definitely causes fear in the Ethereum market (which includes the NFTs market) as well, let’s look at the index below:

The question is: What should investors do in this situation?

1. This is the time when we can say: “Cash is king”.

First of all, let’s cool things off a little bit. It might not be a good time to make money in this period so at least don’t lose your liquidity! The safest option is to cash out and wait for a more stable and reliable market situation to jump in. Another option that most people use is to hold on to the Ethereum token and find really worthy projects to mint or flip/snipe.

2. Only aim for tier S or above!

Let not take any risk higher lower than 80%. If the projects you are aiming for can’t be compared to S+ tier projects like Azuki, BAYC, Moonbird… or S tier projects like Invisible Friends, Godjira, PXN,… let’s not mint or flip those! Last week, we have seen a lot of projects that really have potential but still failed after all just because this is just not a great time to launch.

With that being said, in this week’s Issue #10 we won’t make any project evaluation because there is no project that is S tier or above is about the launch. However, we will cover some projects that are still doing great despite the crash of the market for investors to make a potential flip.

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.

LAST WEEK HIGHLIGHTS

1. Phantom Network (PXN: Ghost Division)

In this weekly highlight, we will look back on how the most promising project of May - the PXN: Ghost Divison had faced the hardness that the market brought. The PXN project which has more than 400k followers on Twitter considered the one with the largest community, was launched on May 7, and after 2 weeks, the project quickly reach above 41k ETH volume trade despite the downtrends of the market. However, the floor price of the PXN fluctuated wildly in the last 7 days. It was traded between 3.8 ETH to 4.7 ETH before the revealed event. After that, the floor price sharply declined to near 1.9 ETH (At the writing time, the floor price is 2 ETH).

Untitled — Pic1: PXN quick look on May 18, 2022

For many people, the reveal event is so risky and they choose to sell their NFT before it. However, for Snipers, that moment was full of chaos, madness, and profit, especially on the most hyped project of the month. Pics 2 shows that at the reveal time, 5 Ghosts (NFT from PXN) were bought with prices above 30 ETH and some were above 20 ETH. That means some people made at least 10 ETH from the PXN project.

Untitled — Pic2: Someone spent 37E for a rare Ghost.

According to the Holders chart from Bubble maps, there is a big guy in the pool, who owns 126 Ghosts. It’s a promising sign that your project got giant backers but it may be harmful to the floor price of the project if he decides to dump everything.

Untitled — Pic3: Chipnft.eth a big guy in the pool.

2. Karafuru 3D

Another hyped project that chooses to launch during the bear market is the Karafuru 3D. Here are a brief and some thoughts about the project.

The total, NFT of the Karafuru 3D collection will be 15555, with 10 000 for the community and 5555 for the genesis collection holders. This time, the team decided to make it large by collaborating with HYPERBEAST - a leading platform in contemporary lifestyle, and Atmos - a global streetwear and sneaker boutique from Japan to bring all the cool things to their metaverse. All Karafuru holders will receive a 3D avatar and can have several playgrounds in the metaverse like sandbox, and Ape land. Besides, they can access real-life merchandise and collectibles.

Through this, it’s obvious that if your team dedicate to the roadmap and works for the community your projects will always be backed by the community. From our viewpoint, the project will easily be sold out and the Karafuru team will bring more joyful elements to the NFT universe.

A quick update, The Karafuru team had just sold out 4000 NFT of the Karafuru 3D collection at the Fair Dutch Auction event on May 17, 2022. People now can buy the Gachapon - the ticket to the Karafuru 3D collection - on Opensea or Trait Sniper.

Untitled — Pic4: KARAFURU 3D ticket at Trait Sniper.

3. GENE_SIS

GENE_SIS mint was one of the most unique mints in the market since no one without the whitelist can mint their 10.000 NFTs collection (They separated the mint into 4 Phases). Despite the down-trend of the NFTs market, GENE_SIS was still able to maintain the floor of more than 0.4ETH in the first 2 Phases, the floor even doubled to more than 0.8ETH afterward.

We think if GENE_SIS can launch in a better period, the project might even be better and can move from tier A to tier S easily.

By the way, GENE_SIS will reveal in 1 week. Don’t miss the chance to snipe/flip one of the most incredible artwork projects out there in the NFTs market!

4. Ragnarok Meta

Ragnarok Meta is also one of the projects that suffer from the down-trend of the market. However, they still manage to pull off a successful reveal in our opinion since their highest sale is 20 ETH.

They’re also sit at a healthy floor of more than 1ETH and still going up slowly day by day.

By the way, let’s look at this healthy Bubble Map they got:

Read our previous blogs on how to find a good project.

Join our Discord and visit our app - the leading NFT platform to get all the details about secret upcoming NFT projects. Get regular updates and event alerts before the new upcoming NFT project launch.

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!

Issue #3: NFT projects hand-picked by Trait Sniper (March 28th - April 3rd)

Related Posts

Issue #10: NFT projects hand-picked by Trait Sniper (May 18th - May 24th)

Issue #9: NFT projects hand-picked by Trait Sniper (May 10th - May 16th)

Issue #8: NFT projects hand-picked by Trait Sniper (May 3rd - May 9th)