Aptos NFT’s state – chapter 2
A little over a month since the launch of the Aptos Mainnet and token launch, it has still been a bit shaky with some quick moves in the last week and the dust has not settled once the FTX collapse squeezed liquidity out of big players and kept the smaller ones the players out of the game when they don’t want to risk things at this time.
Has it been the same for Aptos NFTs? In the second episode of “State of Aptos NFTs“, we discuss the same. If you missed the first episode, read it here.
The floor in all existing good Aptos NFT projects has fallen since the last story and that is not a sign of panic as you will not always see a straight upward trajectory on some project charts. Here are some of the high-volume NFT projects with their current situation and floor price.
The prices mentioned below are a comparison of what was November 7, and now.
- Aptomingos held a good floor price of 50 APT, while it is now around 28 APT
- Aptos Monkeys was around 24 APT and it dropped down to about 11 APT floor price. Volume continues to increase, but as short-term flippers may take an exit to welcome some long-term owners, this is happening at a slow pace
- Bruh Bears hadn’t minted when we did the story at the time, but after the coin the floor jumped to about 25 APT for a few minutes, but the final stall floor hovers around 6.5 APT for now
Why are the floors down from the past? That’s how NFTs work, welcome to this side of the world. Prices see a lot of ups and downs and while you are on ETH and SOL (the established chains for NFTs) see this based on how supply and demand is based on the hype that is generated at times while delivering things from the roadmap, Aptos has another reason at least for now – there are not many users because this is still a new chain and we are still not completely out of the FTX saga which has kept users cautious and they want to save their capital before going to the dough when things are getting better in the market.
Recently marked projects at Aptos
Some of the notable projects minted on Aptos included Aptos Undead, Spooks, a free coin from Pontem Network that rewarded each coin with 1 APT along with NFT, and several other smaller launches on the platform.
Aptos Undead came in with a supply of 4444 NFTs and a new price of 1.44 APT, but after holding the floor at around 2 APT for quite some time, the last price was right around 1.6 APT. Maybe a good point to go in for those who wanted to get one because Undead has a game in production and there is over 13000 APT activity so far for this collection on Topaz.
Spooks was one of the highly hyped projects with a closed community built for weeks, but the mint had to be stopped with a supply of 2,222 instead of the original available supply of 3,600, and one of the main reasons for that, based on how we’ve seen things they last couple of weeks, the thin liquidity on Aptos and users not willing to spend their money on minting if they don’t see a quick flip profit, and Spooks didn’t see a hasty high floor in the beginning, which the mint had slowed down after the first minutes.
Spooks had one of the highest coin prices in the chain so far, with 9 APT, but given the price of Aptos, there was an ask of around $40 for each coin, but as mentioned, the lack of new entrants in the Aptos NFT ecosystem makes it difficult for projects to sell out, and while the mint had stopped, the floor is around 7.4 APT, which is lower than the mint price. Interestingly, this could also be something consistent with the fact that Spooks had their plans out in the open, and given that people expect things to roll out the next day while Spooks has long-term plans for the Aptos ecosystem, this made many of them exit after the mint and don’t keep the NFTs for a long time.
Pontem network had introduced a mint-to-earn collection with a randomized list of allowed wallets and it was in an FCFS method. Although Pontem has yet to mention what it plans to offer to Pontem Space Pirates holders, the anticipation of an airdrop or something good has many trying to own one, giving this collection a good 35000 APT volume so far .
BlueMove had a few launches on the launch pad and one of them was Aptos Kids which was fully minted with a collection of 999 NFTs and a price of 0.99 APT for each. The floor is approximately 0.7 APT and approximately 320 APT of total volume. A free mint of Tigers Aptos Club so a total volume of about 800 APT and the floor is around 0.3 APT. Some other coin goods on BlueMove included Aptos Bearables, Enter the Chibverse, APTOS YACHT CLUB, Cute elf, Arcana Eggand a few more, with all of these through the launch pad, but most not being fully minted unless they were offered as free mint.
Souffl3 had also done some launches on the launch pad, incl Gakusei Aptos Club, Aptos Human Club, AptosYoand The Aptonians which minted at a price of 2.5 APT for each, and a supply of 1111 NFT, while THING with a free coin was the most successful as the floor is still at 1.24 APT with a supply of 4444 NFT.
Upcoming mints worth watching
Aptos Alpha Alpacas
The Alpacas that we listed under the best Aptos NFT projects will mint on November 30th, with a total supply of 3333 NFT and a coin price of 3 APT, regardless of Aptos costs during the minting period. The Alpacas are one of the older and well-known projects and took a while to finally announce the coin date and the details surrounding it.
Nov 30
3333 Supply
3 APT
Paca Paca Paca@TopazMarket pic.twitter.com/afuNSiA4CJ— 🦙 (AAA) Aptos Alpha Alpacas 🦙 (@AptosAlpacas) 27 November 2022
MAVRIK
I had a pretty good conversation with the co-founder of Mavrik and there were reasons why we have it on our list of the best Aptos NFTs to check out and own. MAVRIK has airdrops of cars that can be customized and then driven, and that is only part of the whole plan, so there is a lot to expect from this project as well, and the mint is scheduled for December 7th, with a new price of 5 APT.
Does free mint do any good?
There are several free coin projects coming up all the time, and given that Topaz shows almost everything that is on the Aptos Blockchain, some of these are randomly pumping free coin for a while before falling to almost negligible price, with no real value given. in most of them, so while we’d love to fill up our wallets with these JPEGs, only time will tell if they have any value. But hey, if it’s free, worth a try right? I would rarely spend my money FOMO’ing and buying these freely minted NFTs from the secondary marketplace unless the developers or artists behind these collections promise or at least show signs of working on something.
Will you never be depressed again?
Now, based on what I mentioned above, you should know that Nevermores, the project that was widely appreciated for its art, RUGGED and team never reappeared on the Discord server after the mint. They were there for the first few days, and they had also shown an intention to move to another chain (which raised some red flags), but later they just disappeared. The on-chain data shows that the amount received from the mint and from royalties was sent to an FTX depository address, so one could draw some conclusions from there, but just not showing back tells you it was a lost hope. But until now. Read on.
A group of Nevermores owners came together to explore the possibility of reviving the project where it was abandoned. Based on the chat so far, it looks like Topaz is also going to be involved in helping to repurpose the NFTs into something else, and then follow through with a plan to provide some tools and follow a roadmap (not in line with the original one given by the team that chugged and ran away). Let’s hope something concrete comes out of it and we see this group successfully revive the project, and if you want to help or contribute in any way, they have a Discord server where you can discuss.
Endnotes
As always, this is the real coverage and not biased towards any project on Aptos, and I’d love to chat if you have conflicting thoughts, or if you want to add anything here. I’m available on Discord at Chetan#7559 if you want to chat.
