I bought 2 “JPG” cats for 3000 yuan…

Have you bought JGP pictures? A piece of tens of thousands of dollars.

On June 10 this year, in the NFT art exhibition and online auction held by Sotheby’s, CryptoPunk #7523 was sold for 11.754 million US dollars.

In the past week, the total value of CryptoPunk TOP10 sales was about 5,059 ETH, or about $13.87 million. One of the most expensive NFTs sells for 1500 ETH, which is approximately US$4.38 million.

With the high price and the ring-breaking effect, CryptoPunk today is undoubtedly the most expensive collection in the NFT market, and its price is already ridiculously high.

According to the official website data, the average price of a single NFT of the project is 183,400 US dollars, and the current lowest price is 43 ETH, which is approximately 126,600 US dollars.

It is precisely because of the popularity of CryptoPunk that various avatar-like NFT projects that follow the trend are quickly launched.

Are you involved in these projects?

Let’s take a look at the recently intensively released avatar-like NFT projects, and try to see how crazy the market is today.

From the data provided by the data website cryptoslam.io, currently, among the top 20 NFT collectibles sales rankings in the past 7 days, avatar NFT projects occupy 15 seats. Other non-avatar items are Axie Infinity, Art Blocks, NBA Top Shot, Sorare, Curio Cards.

What are these avatar NFTs that frequently sell at high prices? Let’s enjoy it.

I bought 2 "JPG" cats for 3000 yuan...

Ranked 3rd, Bored Ape Yacht Club (BAYC), the Bored Monkey Yacht Club, this should be the hottest project after CryptoPunk, and many people who have been exposed to this type of NFT project know it.

I bought 2 "JPG" cats for 3000 yuan...

Ranked No. 4, Meebits. The developer of this project is Larva Labs, the development team of CryptoPunk. The 3D pixel character is well-known.

CryptoPunks, Bored Ape Yacht Club, Meebits, these should be the three most well-known items in the avatar NFT, they are also beautifully made, and the avatars used as social accounts are quite beautiful. However, the popularity of the following projects that are high in the top 20 rankings is much lower, but they are climbing at an amazing speed. Let’s enjoy it with the big picture.

I bought 2 "JPG" cats for 3000 yuan...

Ranked 8th, World Of Women, as can be seen from the data, the lowest price of this project is 1.5 ETH.

I bought 2 "JPG" cats for 3000 yuan...

Ranked 9th, Animetas, the style is very anime, suitable for avatars, the lowest price is 0.64 ETH.

Cats are a frequent visitor to avatar-like NFT projects, and many projects feature cats as the protagonist. There are 4 in the first 20. This fully shows that cats are still the most sought after animals on earth.

I bought 2 "JPG" cats for 3000 yuan...

For example, the 12th-ranked Cool Cats has a minimum price of 1.1 ETH.

I bought 2 "JPG" cats for 3000 yuan...

For example, Stoner Cats, ranked 20, has a minimum price of 0.5 ETH.

I bought 2 "JPG" cats for 3000 yuan...

The 17th Gutter Cat Gang has a floor price of 2 ETH.

I bought 2 "JPG" cats for 3000 yuan...

Mooncats, ranked 15th, looks like this. Although a bit random and unreasonable, its floor price is 0.86 ETH.

Do you think these interesting “JPG” pictures are good value for money? In fact, as the top 20 projects in sales, these NFTs have excellent ability to attract money.

The data shows that Stoner Cats, the 20th place, has sales of 1091 ETH in the past seven days, which is about 3 million US dollars. In other words, it is such a pixel cat image NFT that has generated a transaction volume of 3 million US dollars in the past 7 days, which is approximately 20 million yuan.

I bought 2 "JPG" cats for 3000 yuan...

In fact, this is only the top 20 projects with 7-day sales. There are more avatar-like NFT projects that have not entered the rankings, but they are being born at a very fast rate, which will cause congestion in the Ethereum network and transaction volume. Rushing…

So, do you feel the madness of avatar-like NFT?

Crazy, I grabbed two cats in “JPG” format with 3000 yuan!

11:30 pm on August 8th. I also participated in the rush to buy a portrait NFT, and felt how the most popular game in the current NFT field is played.

MAO DAO is a meta-universe game earning guild project, very similar to Yield Guild Games (YGG), the traffic promoter behind Axie Infinity, known as the Eastern Gold Guild.

That night, its first batch of 1,000 NFT blind boxes was put on sale, and each address could snap up 5 NFTs, with a single price of 0.08 ETH. In just 3 minutes, the blind box of the project was sold out.

In the case of raising the gas fee, I successfully grabbed two blind boxes, and each blind box opened was an NFT with a different cat image. Excluding the handling fee, the fee is 0.16 ETH, which is equivalent to approximately RMB 3,000.

▲Two cats grabbed by the author

Two cats grabbed by the author

From the data point of view, the amount of the entire sale is 80 ETH, which is about RMB 1.6 million.

After the blind box sales were over, MAO DAO’s Discord group exploded. Many people didn’t even refresh the webpage at all. Some people raised Gas to hundreds of dollars and still failed to buy. More people began to ask the project party when the second batch of blind boxes could be released.

It can be seen from the group chat records that the buyers are very enthusiastic and excited. In fact, at a time when NFT projects are so popular, no one may think that this will be a loss of money.

At present, the data of the project in Opensea shows that the floor price is 0.19 ETH. Does this mean that participants have at least approximately doubled the income? At present, the highest price for this series is 50 ETH. Does this mean that this address has gained approximately 625 times of revenue?

the answer is negative. There is no market. It can be seen from Opensea that there are very few addresses that actually complete transactions, and only a few addresses have NFTs that have been exchanged at the price of 1 ETH and 3.1 ETH. The data with a total transaction volume of only 11.7 ETH also shows that the transaction activity of this avatar-like NFT is still very low.

In fact, the listing price does not make any sense. Previously, some users set the listing price of a CryptoPunk to 10 to 40 billion ETH, but the total amount of ETH is only about 110 million.

Trading activity may be the key indicator to measure the popularity of NFT projects.

I bought 2 "JPG" cats for 3000 yuan...

Participating in the rush to buy the blind box of MAO DAO is undoubtedly an entry point to understand the hot phenomenon of this round of avatar-like NFT.

In fact, the similarity of avatar NFT projects is extremely high. Except for the different JPG images, the gameplay is almost the same. For example, the total issuance is 10,000 pieces and the initial price is 0.08ETH. There is a rarity among different NFTs. Differences, such as clothing, accessories, hairstyles, colors, etc. These NFTs are often signs of project community members, and the project party will give special treatment to addresses holding such NFTs, such as allowing holders to enter special virtual clubs and participate in community governance. Therefore, whether there is a consensus in the community is the main reason why such projects can become popular.

At present, the popularity of avatar NFTs is actually very similar to the previous collective launch of animal coins.

In May, the market was frantically chasing pig coins, Akita dog coins and other small animal coins, and even panda coins, gorilla coins, lion coins, space dogs and Pikachu appeared. CCTV also reported on the “Animal Coin Battle” at that time. Today, 3 months later, we can see that the craziness of animal coins is almost a turning point for the market from hot to cold. Today, the liquidity of most animal coins is very low, or in a state of zero.

This is actually a reminder to market participants, that is, the popularity of avatar-like NFTs, will it become a pot of cold water splashed on the market? After the extreme heat, let the market return to rationality.


Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/i-bought-2-jpg-cats-for-3000-yuan/
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