Well, what’s up? Welcome to the third chapter of “The State of Aptos NFTs“, the series where I discuss what is going on in the Aptos NFT ecosystem. If you are here for the first time, read Chapter 2 and Chapter 1 to get the context.
Since the last chapter, which was about a month ago, the floor price of most of the big Aptos NFT projects has been up. The trauma in terms of the monetary loss from the FTX debacle isn’t fully gone, and we still are seeing its effects in general, not just in the NFT space. But we have seen some of the projects keeping every factor aside and just building what they promised, which gives you a positive vibe of where things could head in the future when we see an overall positive sentiment in the market.
The floor prices of some of the major projects are as follows, compared to November 28th.
- Aptomingos jumped from 28 APT to 54 APT and touched 69 APT too a few days ago
- Aptos Monkeys was at about 11 APT when I wrote about them last time, but now the floor is sitting right around 20 APT, and the reason for that is the staking they introduced
- Bruh Bears seem to have gone up slowly, with the floor at about 8.5 APT while it was about 6.5 APT a month ago
- Spooks had just minted around that time and the floor instantly went down with the mint. But now, the floor price is moving to around the mint price, i.e. 9 APT
- Aptos Undead too minted at about the same time, but there was too little activity from the team, which led to many selling their holdings under the mint price, but finally, it has been stable at around 1.7 APT
Newly minted
Aptos Alpha Alpacas – One of the older names in the space, but they chose to mint late, and the full collection didn’t mint out, and thus the supply was cut. 1782 in total, from the 3333 original supply, and the mint price of 3 APT didn’t give a good sign already on the first day of the mint, but the floor price is right at half of the mint price.
The reason? Close to zero communication as to what is happening, and what is next. I tried talking to one of the co-founders to get a response that it was a delay on the developer stuff, and they are building something around attention economy, so we just keep waiting. Almost a month, no activity on Discord, and no updates, so the sentiment of holders is quite understandable.
MAVRIK – One of the best arts on Aptos, but this isn’t an art project. MAVRIK had so much in the plans, and while they started and did a good first few hours of mint on Topaz, the sales reduced. I am glad the team decided not to reduce the supply because when you are building something and need a budget for the same, you wouldn’t want to just stop the mint and carry on with whatever funds you raised. They have minted 2700 NFTs so far, with the mint price of 5 APT each.
Let’s see how this pans out, but I have minted a bunch and kept them, for the art, and also for what they have in the plans for the near future.
Lemur Lounge – The Lemurs is another brilliant work of art on Topaz, and they minted out the entire collection of 4000 NFTs on Souffl3, just a couple of days ago. The mint price was 1 APT for Whitelist, and 1.5 APT for the public mint.
Who’s shipping what?
Taverns from Bruh Bears
Still unsure what this is going to do, or whether it actually will do anything. But as it has been the case with Bruh Bears, it’s fun. It’s just fun to see your Bears leveling up, with no visible change to their looks. If you own a Bruh Bears NFT, you can go to Taverns and stake it to see it level up every day.
Jungle from Aptos Monkeys
After the Rafflor that is being used well by collections and NFT owners, Aptos Monkeys just launched the “Jungle”. It’s their staking service that rewards staked Monkeys with SEEDZ tokens. The utility of these tokens is not yet revealed but based on how they have been doing things, I am sure things are well-planned for the days ahead. Also, hope they don’t add liquidity and throw this in for trading because that’d just be a dump happening.
[REDACTED] Keys from Aptomingos
A free mint rising to 3-digit APT, and still holding at around 50 APT, this has been a ride for not just the holders but for Fischer, the founder who has been building the community and planning the steps ahead. He had announced a snapshot and then airdropped something called [REDACTED] Keys to all the holders, with some extras for the 1/1 holders. What does it mean? I have no idea. But my guess is that it has something to do with the next phase of Aptomingos, where they could be bringing something new, a collection, or anything, prioritizing the holders. Let’s keep guessing.
Bulan Gallery
The very unique project on Aptos, Bulan, has launched the Gallery that they had promised. It’s a gallery showcasing the gods of the African culture. A very different approach, with a long-term vision and plan, but for now, the Gallery gives you a broad idea of the African culture, and it is so well made. Even if you aren’t a holder, you can still watch the Gallery at bulan.io.
Rise Wallet for iOS and Android
I did check the app on iOS and so far, the work done seems to be superior to most of the others. Such a streamlined app with all the needed sections, and even the in-app browser so that users can carry out any minting directly from the app itself. I will do a full review of this one, but for now, love to see what Rise is doing here and it will be a good competition to Pontem and Martian who are working on the mobile apps.
What else is going on?
The Nevermores derug seemed to be still in the process as the team behind that is on the stage of finalizing the contract part, and while the original team rugged and left, there is still hope for the holders to see better days.
There’s a project called VORP Pass, which is something to do with unique benefits on an eSports betting platform, and while I haven’t checked what is really going on, this collection keeps showing itself on the top volume every day on Topaz. There have been several claims from users about wash trading happening to attract new buyers, but I won’t confirm it already. Will probably update this part when I get to talk to the team and know what they are up to, but till then, not buying one.
Aptos Ape Society was one of the early projects that were well hyped and had made a large community and as far as I remember, it was going to mint in a few days with the mint price of 1 APT. But, all of a sudden, Discord and socials vanished without any notice. I’m only glad they didn’t do that after the mint.
Fake collections on Topaz – This has been a major headache for not just the investors, but also for collection owners. Topaz doesn’t seem to have manual control over the visibility of the collections, and given the thin liquidity in Aptos, even a single-day activity of about 50 APT gets a collection to the top 20 on the homepage of Topaz.
That’s why users make fake collections that look like the original ones and make some fake activity and list NFTs at a lesser price and some who don’t do quick research would lose some money while buying off the fake NFTs. This has become a common practice, and while Topaz should not allow collections with the same name to even show up, the users too should keep taking care and do enough research before throwing some money into anything.
End Notes
The Aptos NFT ecosystem is slowly growing, and we are seeing the major NFT projects building stuff as promised, and as I had mentioned earlier as well, you need to give projects a good time for them to show what they were doing behind the scenes.
You should always do your own research, though, and not rely on someone random to buy an NFT, and as it always is the case, invest what you can afford to lose.
If you have any major updates to share that I might have missed, you can always reach out to me on Twitter @thecaptaingates or Discord Chetan#7559 and we can discuss!
