In this video I take a look at all the major NFT collections after the recent crash and what might happen next.
– Bored Apes
– Cool Cats
– Fluf world
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0:00 start here
1:36 tier 1
3:26 tier 2
6:23 tier 3
8:54 degen mints
9:42 what I’m buying
Hey guys so there’s no way to sugarcoat This so i’m just gonna get right into it We just have the worst month of nft Volume in over a year we’re almost Through the entire month of august and We’re still down nearly 90 compared to August 2021 however it’s gotten to the Point where it’s kind of dumb to talk About entities as a whole and whether or Not nfts are alive or dead the truth is That nfts now encompass many different Projects each with their own strengths And weaknesses and so you can have some Completely killing it while others are Crashing down to zero so what i’m gonna Do today is go through every segment of The profile pic market okay we’re gonna Hit the high tiers the mid tiers the low Tiers and i’ll give a grade on what i Think the health is for each segment as Well as which ones i’m potentially Buying it so this is gonna be a road Trip across the land of jpegs and i hope That by the end you’ll have a better Handle on the current state of the Market now a few footnotes before we get Started number one i’m only going to be Looking at ethereum nfts today you know Maybe in the future i’ll do solana tezos But you know one step at a time number Two i’m only going to be focusing on pro Fopi collections which are the biggest Part of the market but there are other Segments that could potentially see
Growth as well and in fact art has been One of the better performing segments All summer number three nfts are pretty Much an uncharted territory right now And so you should take everything i say With a grain of salt okay it’s not like I have some divine knowledge or anything Like that it’s just one perspective from A single collector and i am gonna give Grades to each segment throughout the Video but this is just a silly way for Me to quantify how i actually feel about Each segment and it definitely Oversimplifies you know the many Projects that are in each tier and Finally point number four i’m happy to Say that this video is brought to you by The letter y as in why haven’t you Subscribed and smashed the like button Yet alright so with that out of the way Let’s get started and i’m gonna begin With the top tier projects and i’ll only Spend a few moments on this because i Know it’s not relevant for everyone i Also know someone in the comments is About to be like he just called us poor No i didn’t call you porsches i know That doing a segment on crypto punks is The fastest way to get everyone to check Out so in this tier we do have crypto Punks and board apes because these are The only two collections that you know Are considered to be top tier and which Have enough volume to be able to get
Like a health check on them now in the Last seven days crypto punks are down Four percent and in the last 30 they’re Down 12 this is one of the most Important collections to keep an eye on Because maybe more than any other nft They represent a bet on nfts as a whole And when whales are buying punks you Know generally means sentiment around Nfts are good and when they’re dumping It you know you’re losing that vote of Confidence doesn’t mean that whales Necessarily know anything more than the Rest of us but you know it’s still one Of the best barometers we have now board Apes are hurting even more they’re down Eight percent in the last seven days and 17 in the last 30. this is the only Other nft to have broken through to the Mainstream and typically when the press Talks about nfts they love to reference You know how board apes have been doing Relative to their highs and lows and so Obviously right now you’re getting a ton Of articles about how this collection You know seems to be down only in General i’m gonna give this tier a c Plus in terms of health you know they’re Down a lot on a dollar basis but they Haven’t completely collapsed yet and we Still consistently see you know six Figure buys on both collections and so There’s definitely still demand from Whales now you could say that between
The two punks are probably in the safest Position because they’re not tied to any Upcoming catalyst whereas board apes are Connected to yuga’s upcoming projects Specifically other side which is yuga’s Attempt at making not only a video game But a triple a massive multiplayer Online game which is like one of the Hardest things you can do bottom line is Keep an eye on these two collections Because if they continue to fall then That’s definitely gonna have downstream Effects throughout the entire genre now Let’s move down to the mid-tier profile Pics and these are often called blue Chips but with each passing day that’s Sounding more ridiculous given how Volatile they are like yes they’re Better than your run-of-the-mill nft They’re also more expensive but they Haven’t really shown they have what it Takes to break through to the mainstream They’re kind of like hawkeye and marvel Like yeah you’re technically on the team And i guess you could put that on your Linkedin if you want but let’s be real You definitely are a second string Character without enough star power of Your own anyways everyone has their own Definition of what should belong here But here’s what i got doodles azuki Clonex moon moonbirds so as you can see In the past month they’ve all declined Between 20 and 30
And they’re all down over 50 from their Highs which is not really blue chip Behavior the main challenge for these Collections is that on the way up people Were buying them based on their phase One which was you know doing a bunch of Airdrops expanding the community Basically giving out dividends to their Holders but in general they’re all done With phase one now and the question is What does phase two look like and is There enough there for them to grow Beyond web3 and also to give you know More concrete value back to their buyers Currently what we’re seeing is that the Market is skeptical like yeah you can Have all these fancy road maps and You’re saying all the right things but Buyers are less inclined to give you the Benefit of the doubt and that’s why for Example we see doodles coming out with An ambitious road map where they’re Doing all these games and shows and They’re bringing pharrell on board and All that and yet the price just proceeds To be down only since that presentation Now you can expect them to continue to Build regardless of what the floor price Is and and they do have bigger Treasuries and most nfts so you know It’s possible that a year from now there Is like an epic doodle show or something Like that but it’s hard to see what’s Gonna stop the bleeding in the short
Term so i’m gonna give this category a d Plus in terms of health they’re dumping Hard and unlike board apes and punks They haven’t broken through to the Mainstream and so without that continued Growth and attention they do seem a Little lost and also it’s not really Clear what value people are getting from Holding one of these nfts as they go Into phase two and you might say well There’s still collectible value but for Sure a lot of the price appreciation That we saw before did have a lot of These dividend air drops baked in so now That that’s gone we’re starting to see That deflate and no one really knows how Much more there is to go hey guys it’s John carlo for the next day with a fresh Cut what’s up so i was watching this and I felt that i came across a bit negative On this segment and look the truth is That people invested a lot of money into These projects in the first place Because of the quality of the teams and The idea that you know they can navigate Whatever changes we see in the space Okay so yes the meta might be changing But they have enough money they have Enough smart people behind the wheel That they should be able to integrate Some of those changes into their Existing projects and in terms of the Short term you know you could argue that They’re overvalued they’re undervalued
That’s kind of tough to say personally i Would think that they’re probably close To the bottom at this point given how Much damage they’ve taken over the past Few months and the fact that the people That are holding these nfts at this Point are probably fans of the brand They’re probably in it for the long term Relative to the speculative bubble that We had you know just a few months ago Okay so just a bit more context let’s go Back okay third we have the low tier Profile picks now these are gonna be the Ones that couldn’t really break through To that plus 10 eth range they normally Hover around one to five each now if you Have a conversation with somebody Outside of web3 there’s a good chance They know what a board ape is and maybe Maybe they know what something like Doodles is if they’re like really Plugged into the internet but there’s no Way they’re going to know what a Cyberkong or fluff world is so Everything on this list is entirely Self-contained within that nft bubble And obviously that’s part of the problem Now there’s a bunch of these we can look At but i just chose the top 10 based on A mix of lifetime volume and also volume In the last 30 days and so we have beef Friends cool cats world of women crypto Cyber kongs pudgy penguins mfers hate Prime invisible friends and fluff world
So as we see here pudgy penguins is Definitely killing it right now up 48 This month so far and hate prime is also Doing fairly well and in the past few Weeks most of them have seen this nice Bounce and so it’s possible we’re seeing A reversal here but generally i think This category is in trouble because it Suffers from what i think is the biggest Problem facing the space right now Something we should all be talking more About and that’s money you see all these Projects are just running out of money And there’s this wave of bankruptcies That’s flowing through the space and It’s just going to get louder and louder The truth is that very few if any of These projects have figured out how to Create a sustainable business where you Know you have more money coming in than You’re spending i know it’s a crazy Concept and so it doesn’t really matter How ambitious your road map is if you Can’t even keep the lights on i did a Video on this topic over a month ago and It’s gotten even worse since then Because now you have royalties slowly Going away and that was one of their Last remaining sources of income so Truly many of these are on their last Legs and probably closer to zero than Any kind of recovery and this money Problem is partly why we’re seeing so Many road map collections just fall off
A cliff okay we used to have these Collections in the one to two eth range You know ones like kawafuru three Landers alien friends they’re down hard From where they were and i think some of These founders at some point are just Gonna pack things up and be like We tried now since i’m in a game of Thrones mood because of the recent show I’m gonna point you to that legendary Quote chaos is a ladder because in the Chaos of all these road map collections Falling apart we are seeing collections Like crypto dig butts and pudgy penguins Thrive just on pure old-fashioned meme Energy so if you are looking to buy Something from this category i would say Focus on more meme heavy projects but in General i’m giving this tier a d minus Which is the worst score so far because I just think most of these are born out Of a meta that no longer works and they Don’t really seem to be evolving fourth We have degen mints so these are gonna Be your derivatives your low effort Memes and just generally bottom of the Barrel stuff i just did a video talking About why this entire genre might come To an abrupt end if and when royalties Start to go away because their entire Business model was based around Royalties what that means is that Creators are likely to abandon this Model because there isn’t a quick buck
Anymore right and so the only way to Make money now really is by just minting A bunch of your nfts dumping them on Your followers and i think people i hope People are just gonna see through that And just not mint these anymore so with That said i’m gonna give this category a Fat f right now sure you could get some One-off memes that sprout out and become The next mfers but it’s really hard to Build a strategy around those types of Edge cases so i’m personally staying Away from these for the time being Unless i find something that just looks Fun to own without you know any Financial motivation all right i didn’t Mean for this video to get as bearish as It did and the scores were just getting Worse and worse but it doesn’t mean that I’m just not buying nfts anymore okay it Just means that you know we’re going Through a cleanse right now a lot of These projects that did well in season One are going away we’re all gearing up To see what’s next there is a category That i have been buying into recently And those are what i would call the Homebrew mints i’ve spoken about these Before but basically these are just Mints that are providing some kind of Innovation to the market okay whether That’s a novel approach to social media Or a brand new on-chain mechanic and a Few that just come to mind that i’ve
Bought recently are mirokai which Introduced a new mechanic that dripped Tokens into your wallet without staking Vanillas where the characters will Evolve based on the price of different Cryptocurrencies and office hours which Added this schedule where you could only Trade your nft during specific hours Based on each career’s work schedule now To be clear these are just examples and None of these have really taken the World by storm but that’s okay because My strategy is just to get as much Exposure to as many interesting projects As i can at cheap prices because one i Think eventually a couple of these will Hit and two at least i’m supporting Creators that are bringing new things to The market and it’s almost like funding Public goods in a way because you know This is all open source and it just goes Into the same library that all other Creators can use for their projects Outside of that i’m going to continue to Buy just you know memes because i just Want to find things that resonate with People either because it’s funny or has Iconic art i think people are never Going to stop just liking and sharing Memes and also these are just fun to Collect and finally i am always looking For teams that just have experience Making actual brands and products and i Just think in general we’re gonna see
Way more professionals enter the space All right guys i hope that was Interesting just a few of my subjective Takes on what i’m seeing right now and One thing i didn’t cover at all a big Factor is the macro environment that’s Something you should consider as well But apart from that you know thanks Again for watching and i’ll catch the Next video
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