NFTs
5 Undervalued Ethereum NFTs | No bank
With the specter of Blur farming not being what it once was, the Ethereum NFT bearish scenario may have bottomed out and could be poised for a major rally soon.
Of course, amid this reversal, major collections like CryptoPunks, Pudgy Penguins, and Miladys would likely do well, but what about lesser-known gems that could also be seriously mispriced today?
When I look around the ecosystem, a handful of smaller projects currently stand out to me as prime candidates for catching wind thanks to being notable digital artifacts.
Let’s highlight these projects and talk about why they’re important!
1) 0xmons
The creator: 0xmons
Current floor: 0.42ETH
Bearing the same name as its creator and first released in December 2020, 0xmons are digital collectibles of pixel monsters whose animations were made using Generative Adversarial Network (GAN) technology.
Because it used machine learning in this way, 0xmons is one of the first pioneering AI art projects in the crypto scene, and for that reason I suspect it will age well as an AI collectible.
2) Avastars
Creators: nft42
Current floor: 0.013 ETH
In the NFT history books, Avastars is notable for being the first profile picture project (PFP) to pioneer a system for storing all of its features entirely onchain in Ethereum.
This technique has inspired dozens of other onchain collections in the years since Avastars launched in February 2020, so this significant influence, coupled with the really affordable minimum price at the moment, makes me think it’s not a bad time to pick up some of these PFPs.
3) CryptoSapo
The creator: Gremlin
Current floor: 0.25 ETH
Among crypto’s most talented and iconic “one of us” artists is Gremplin, and his September 2021 10k PFP collection CryptoSapos was a characteristic ode that perfectly encapsulated the vibes of the previous NFT bull run.
I choose to live in a world where artists like Gremplin get the respect they deserve, so I simply choose to believe that CrypToadz should trade above 0.25 ETH. And, let’s say in 5 years, I think they will trade above what they are today as more and more people will have delved into their lore.
4) Mutant Garden Seeder
The creator: Harm van den Dorpel
Current floor: 1.07 ETH
In my opinion, one of the most exceptional NFT art series in 2021 was Mutant Garden Seeder by artist Harm van den Dorpel. In short, each of the collection’s 512 pieces dynamically evolves over time by Ethereum block hashes, making it a truly compelling exploration of living art and digital organisms.
That said, I believe a floor of ~1 ETH is too low for a collection of this caliber, and I wouldn’t be surprised to see these pieces trading around 4 ETH again within a few years as new collectors become familiar with Harm’s works.
5) Terraforms
Creators: Mathematical Castles
Current floor: 0.54 ETH
If you read my recent Terraforms Guideit should come as no surprise that I consider this project to be one of the most undervalued in the Ethereum NFT space. Launched in December 2021, Terraforms is a 20-tier virtual “Hypercastle” whose packages evolve over time through its smart contract code.
A pioneer in runtime art, Terraforms stands out for being fully onchain, continuously dynamically generated, and highly composable. I consider anything below a 1 ETH floor for this collection to be an absolute steal because I think these pieces will stand the test of time thanks to their artistic significance.