Saturday, March 27, 2021

How Much Is An NFT Worth ? Analysis of nftauctions 3/20/2021

Since this is a question we are all wanting an answer to, I decided to revisit the FDCARD auction as it fetch the highest price and had the most activity.

Why does an NXT have any value at all? I think for NXT it is just a new phenomenon. Value in the crypto sphere is moving into this space, spearheaded by the mainstream cashing in creating NFT to make and store value. 

Why the early SOG Cards have commanded so much value must be because some were created documenting and marking events in Bitcoin history. They were the first and that's what counts. They are also valuable because they are rare. Very Rare.

Back to the auction

zaafar                    opening bid 5K

mysterious aesthetic   Entered 10K

xcer                             Entered 11.111K      Exit 20K

rob                              Entered 12K             Exit 26K

dave                            Entered 12.5K          Exit 20K

@eltoso                      Entered 15K             Won

got it all offalik          Entered 26.5K          Exit  43K

white rabbit                Entered 36K             Exit 44K

Fredrick                     Entered 37k   

_____________

Bidding after 40K went as such :

@eltoso  40K

white rabbit 41

@ eltoso 42K

got it offalik 43K

white rabbit 44K

@eltoso  45K

Question is : Was this real? As there were 9 active bidders I believe it was. Even after 40K there were still 3 bidders in it. Some dropped of earlier and it must mean there is unsatisfied pent up demand. 

The Satoshilite card went for $3300 so why the high price for FDCARD. It must be because it was the first even though it was not connected to Bitcoin storyline.

As I see it investors are making up their minds that these early SOG cards that tell the Bitcoin story are what they are willing to pay for. No more can be created and even if more of the same were issued by Everdream Soft ( I hope they don't ), the original ones will be the ones sought after. 

Value I suppose will be based on how investors perceive each card and the story they tell not if it is an Epic or Legendary card.  

By mistake some of the early cards were also divisible. You could buy 0.001 of a Satoshicard or Genesis card. It would be silly to break one up but fractions of these cards already exists.

__________________________________________________

Decided to examine the other sales  3/20/2021 Results. Unsold cards removed

1) Spells Of Genesis

Lot #17: FDCARD (1)
All in: $45000
Seller: N/A
Winner: @eltoso

Lot #8: SATOSHILITE (1)
All in: $3300
Seller: N/A
Winner: Cheech P

I am familiar with Spells Of Genesis and I know the personalities. Shaban was at the auction and he was as surprised at the prices achieved as much as I and some others in the Spells of Genesis community. I believe most of us invested in the game believing that if the first blockchain game became a success the cards would be worth something. The best prices were always in the low hundreds for Legendary and Epic cards and mere dollars for the rest. There was no premium for historically significant cards. The most expensive was of course the Satoshicard which sold for up to 6.65 BTC about $3500 then.

Over the years support ebbed and flowed and mainly hobbled along. Many of the original investors lost interest but did nothing as there was no market to speak off for the cards. The game token BCY was also delisted from many exchanges except for Zaif in Japan but liquidity was very low.

Then @nftauctions happened! We note that the sellers were not identified (NA) Both the winners Cheech P and @eltoso only made the one purchase. I know that none of us in the community were bidders in these 2 items. They are most probably from outside the community who are buying as an investment or as a store of value.

Demand for SOG cards seem to be on the rise from outside the community.

2) Villar Donations

Lot #35: Villar Donation Lot
All in: $1100
Seller: N/A
Winner: @IndelibleTrade

Lot #10: J. Villar (Mega Lot)
All in: $9400
Seller: N/A
Winner: @rarepepetrader

I believe these were Rarepepe cards and I commend the buyers for their kind donations.


3) Pepe, Corn Force, Of Will

Lot #1: MOONBRUNCH (Mega Lot)
All in: $1169
Seller: @moonbrunch
Winner: @Cornholio_the_Great

Lot #4: CORNITO (Mega Lot)
All in: $1500
Seller: @Cornholio_the_Great
Winner: Xcer

Lot #19: RareScrilla (eth)
All in: $2700
Seller: @scrillaventura
Winner: Xcer

Lot #28: Force of Will (4)
All in: $1000
Seller: N/A
Winner: Xcer

Lot #2: HOMIE (1)
All in: $3100
Seller: @misterwheeler
Winner: Xcer

Lot #27: FWCFCMARSFOC (1)
All in: $850
Seller: N/A
Winner: Xcer

Lot #30: DOSPEPES (1)
All in: $120
Seller: N/A
Winner: Xcer

Lot #33: CORNFITI (1)
All in: $900
Seller: @KEKRELOADED
Winner: Xcer

Lot #7: PEPEPOWERONE/TWO (2)
All in: $8500
Seller: @IndelibleTrade
Winner: @WhiteRabbit1111

Lot #15: PEPEPASSPORT (1)
All in: $400
Seller: N/A
Winner: @WhiteRabbit1111

Lot #26: FWCFCDRAGONC (1)
All in: $1000
Seller: N/A
Winner: @WhiteRabbit1111

Lot #32: GOXPEPE (5)
All in: $2800
Seller: N/A
Winner: @WhiteRabbit1111

Lot #3: LILUPEPE (1)
All in: $750
Seller: N/A
Winner: Zaafar

Lot #6: NOTARAREPEPE (1)
All in: $250
Seller: @wampum
Winner: @BitCrunchy

Lot #11: PEPEYAKUZA (Mega Lot)
All in: $3200
Seller: @Easy_B
Winner: @BitCrunchy

Lot #9: PEPEKACHU (1)
All in: $3800
Seller: N/A
Winner: @IProsumer

Lot #12: RAREPEPE (1)
All in: $17000
Seller: N/A
Winner: @hodlencoinfield

Lot #13: Bitcorn Jesus (1)
All in: $1500
Seller: ɱΔ6ì☾ҜìΔṄ
Winner: Tomi Devim

Lot #14: KEKTOPUS (1)
All in: $500
Seller: N/A
Winner: @scrillaventura

Lot #16: XENOPEPE (Mega Lot)
All in: $1000
Seller: N/A
Winner: ɱΔ6ì☾ҜìΔṄ

Lot #21: BATMANPEPE (1)
All in: $700
Seller: N/A
Winner: Gibson

Lot #23: DANKPEPE (1)
All in: $1100
Seller: N/A
Winner: @CollectiveMemeConscious

Lot #25: PEPEBAQUIAT (1)
All in: $1333
Seller: N/A
Winner: @CollectiveMemeConscious

Lot #29: CRYPTOPEPE (1)
All in: $420
Seller: N/A
Winner: Dave

Lot #31: EGGPLANTPEPE (1)
All in: $150
Seller: N/A
Winner: @Easy_B

Lot #24: RARECORN (1)
All in: $888
Seller: N/A
Winner: @droplister


There are 13 Winners in these sales @cornholio__the_great, Xcer, WhiteRabbit1111, Zaafar, @BitCrunchy, @IProsumer, @hodlencoinfield, Tomi Delvin, @scrillaventura, ɱΔ6ì☾ҜìΔṄ, Gibson, @CollectiveMemeConscious, Dave, @Easy_B, @droplister

Zaafar, Xcer and WhiteRabbit1111 participated in FDCARD bidding. Beyond this I am unable to comment as I do not know any of the personalities in Pepe, Corn, or Force Of Will community.

                         __________________________________________________


It is quite possible that NFT valuations can exceed that of cryptocurrencies! The reason is because NFT values are decoupled from the price of cryptos. It is an asset class all by itself. 

Take for example, the Spells Of Genesis  FDCARD was sold at auction for $45,000. There are 300 cards issued, which gives this card series alone a market Cap of  $13.5 million. Whatever happen to the price of Bitcoin, the value of an FDCARD will not be affected. It is a perfect hedge for crypto investors.

All will be revealed on April 03.


Other Cards

Bitcoin Origins - Genesis Card

The Stealing Of Mt Gox - GOXCARD

First Bitcoin Fork - Blocksizecd

The Immitator  Satoshilite


Note : Please feel free to contribute in the comments to improve this page and to use, for promoting your sales.

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