NFT God Newsletter - The Daily Alpha 5/15/22

The Daily Alpha 5/15- Happy Sunday evening everyone! After an incredibly exciting week we've had a relatively calm weekend. I wanted to quickly go over some interesting news stories before getting into a breakdown of some mid chips I've been keeping my eye on. Mid chips have been getting slaughtered the last few weeks, so I think there is some value to be had here.

Okay Bears retakes the throne

Are we about to experience a SOL summer? Okay Bears which has dethroned DeGods as by far the most talked about SOL project on the planet had a surge overnight with several alpha groups including Llamaverse making the call to buy the project. Volume came in strong and heavy the last couple of days, sending the project to all time highs and directing a lot of attention to the whole SOL ecosystem. With this kind of crazy momentum I think it’s safe to say the Bears are officially sitting on top of the SOL throne. While I am not a SOL investor myself, if you dabble in that space I think this will be a safe bet as the BAYC of the SOL universe moving forward. If SOL somehow one days dethrones ETH, you have to think this project will be way higher than it is right now.

Degen Toonz mega pumps

Behind large purchases from influencers like Fvckrender and Farokh Degen Toonz has made a huge move up today. An interesting comeback story, making its way all the way down to .1 ETH before getting over 1.5 ETH, Degen Toonz is a case study in team leaders building communities the right way. I have always said the hardest thing to do in NFT’s is get a project who dipped below .1 to recover, but Degen Toonz bucked this trend. I hesitate to buy anything at all time highs, but will be watching this project closely.

Market Stays Leveled Through the Weekend

After an insanely volatile week filled with highs, lows, and Azuki, the market stayed relatively calm throughout the weekend. With BAYC standing at 100 ETH, MAYC at 20 ETH, and Moonbirds at 23 ETH, little changed the last couple days. It will be interesting to watch as US markets open up in the morning. I’m a cautious observer for the time being, too many macroeconomic headwinds for me still.

A breakdown of mid chip projects: Just a quick breakdown of some mid chip NFT projects I'm looking at. As I mentioned in my intro, these have been getting absolutely slaughtered over the last few weeks as most of the value has been going to the top. Here's a quick breakdown of the mid tier projects I'm keeping my eye on:

Deadfellaz: 1.33 ETH floor

Deadfellaz has been making noise in the space for months now. With unique art by Betty NFT, and a strong unique holder count, I think this is a project to track at these levels. Betty has become a big figure in the space and has built a company around the brand. There is an entire exec team working on this project day in and day out. I don’t see a scenario where this project goes to 0, they’ve built up too much clout already. I think the pot odds here are pretty solid. 

Psychedelics Anonymous: 1.99 ETH

Incredibly unique and interesting ecosystem here consisting of many components and parts. Voltura has built a strong narrative around this project that has kept people holding for months. Very strong unique ownership as well.. Definitely read into the background here if you’re thinking of making an investment as there are a lot of moving parts to this project. This isn’t just a buy and hold, you need to get involved. With a dedicated userbase and floor prices dipping below 2 ETH, I think this project has very good pot odds as well. Would recommend tracking if you are willing to get super active with a community.

Invisible Friends: 4.19 ETH

This is a former blue chip turned mid chip. I love the art here, unfortunately not much utility or world building to be had. I think the IP is incredibly unique tho and will be watching as this dips further. I think with the hype going into it and the strong potential for different IP plays, as a long term investment this could be a smart move. They’ll have to execute on the IP which will be a tall task, but I’m looking to target this project at the 3 ETH range.

Creepz: 1.2 ETH

After starting off as a P2E game Creepz has pivoted to a brand play. Really strong move from the team as they build a dedicated community base here. The pivot has been very interesting to watch. They signed to a management firm and are looking to leverage their IP in several different ways. They also plan on completely rebranding in the next month. Sitting at all time lows and still maintaining a wildly active community, I’m looking to potentially buy dips here and watch what the creators do next.