Avoid a Mass Stranding
Blubber Notes #5 - Alpha for Future NFT Whales
Dear Future Whales,
In terms of NFT trading volume, we’ve been swimming in a stale market for over 45 days, so on the surface it’s seems like much of the same. However, there are signs of life! Now in early August, there has been an uptick in the number of monthly active users and an increase in the number of NFTs sold! My questions for you: are you prepared for the incoming tide? Meaning are you in the right projects that are GMI (Gonna Make It)? Or will you get stranded with NFTS from illiquid projects?
In today’s note, I continue where I left off with my last note by introducing the quality projects that I like, that I’m invested in, and which I believe will make it out to sea! We also discuss leaks tied to Gods and Goblins, and I share a podcast recommendation.
Summary of today's notes:
Featured Projects
Alpha Leaks - All about Goblins
A great podcast for explaining the Metaverse
Featured Projects:
The market is filled with membership-like NFTs. They promise future drops and whitelist access (allowing you to participate in upcoming mints), but it can be a challenge to figure out which of these are not only adding real value with drops in the future, but that also have the backing of a professional reputation, a strong community, and the capital needed to be successful. Ledger has this! They’ve built their reputation around education and security. Just recently, Mo El-Sayed from Ledger joined my colleague JP Lee and me on our Web3 Tea show to educate our audience. You can watch it here. He dropped true alpha at the time with the announcement of the Ledger Market Pass which minted for .3eth and now sits at over .5 eth at the time of writing.
What is the value?
1st - Holders of the Market Pass will be eligible to claim a limited edition, black-on-black Ledger cold storage device. If you don’t yet have a cold storage wallet, it’s recommended that you get one!
2nd - Since Ledger is one of the most secure platforms for creators to release their NFTs, there are planned whitelist opportunities and NFT drops around the corner. Learn more here. This is the type of membership NFT that you’ll want to hold for many years!
There are few other projects that have created more value to token holders while at the same time delivering high-quality experiences. I would argue that the team at Non-Fungible Labs, which created Fluf World, wrote the book on how to engage a community in Web3. I continue to take notes.
What is Fluf World and what do I mean by value?
It started with thousands of rabbit avatars, called “Flufs,” living as NFTs on the blockchain. This NFT, a high-quality file with the Fluf, included a unique sound and background (unique NFTs themselves). The Fluf comes to life, bobs its heads and looks ready to party, very similar to our own VanEck NFTs. I know it’s a red rabbit wearing a sombrero, but just stay with me for a moment.
If you were lucky enough to mint and own a Fluf, then you were able to claim several assets including Thingies, Party Bears, Burrows, Music NFTs, Backgrounds, Ray Guns and more - all assets that have increased in value since they were claimed or minted. Flufs kicked off the beginning of a content first metaverse. Fluf World’s focus on content first means the avatars, the scenes, the sounds, even the burrows are all fully 3D rendered, VR spaces that are ready for interaction. In my opinion, this is a future blue-chip disguised as an everyday NFT project and is most certainly one to pay attention to.
Alpha leaks:
Gods & Goblins (formerly known as Goblin Town, and not the Goblintown.wtf) - Now that you have a better understanding of Fluf World, it’s time to wrap our heads around the concept that it’s all a game, including the minting of NFTs or distribution of assets. As a Fluf holder, I could previously uncover Alpha that pointed out how certain traits provided me with specific benefits. For example, just last night it was announced that Flufs wearing a “Party Hat” will be airdropped something special next week! This is Alpha.
Related to Gods & Goblins there is an additional wrinkle.
Now it seems that there is a “sacrifice” needed in order to play the Goblin’s game and participate in the mint or some new alternative of distribution for NFTs! The team continues to tell us to “Follow the path”, and there is already confirmation that sacrificing Seekers will be the key to unlocking access to this new project. I have a feeling that this “path” may involve sacrificing additional assets from the Fluf World ecosystem. It’s a smart strategy by the team, as sacrificing or burning NFTs tied to the project would have a strong deflationary effect (which could drive up floor prices) than even simply staking an asset or locking it up for a certain amount of time.
I recommend visiting the site and joining the project’s Discord and Twitter as things may move faster than my weekly newsletter can keep up with.
Recommended Podcast -
I’ve been meaning to share this podcast over the last few notes. NFTs are the building blocks of the Metaverse and Matthew Ball does a terrific job of breaking down the opportunity. If you would like to better understand what the Metaverse is, I suggest listening to this pod. It’s super informative.
Authored by Matt Bartlett, CAIA
NOT INVESTMENT ADVICE
Please note the author has invested in all NFT projects mentioned within the article including the Fluf, Ledger, Thingies, Party Bears, Burrows, Fluf World Music NFTs, Fluf World Backgrounds, and Ray Guns.
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