NiftyNoon: When is a Mint Price Too High?

Valhalla 0.5 ETH mint price catches FUD (November 17, 2022)

Nifty Thought

• Valhalla’s 0.5 ETH mint price has caused quite a stir within the NFT community. While the gaming-centric profile picture project has noted high mint prices from other projects (such as Azuki and Clone X), it is also important to understand the context of those mints. Azuki and Clone X minted during the peak of the NFT bull market whereas Valhalla is minting during a time when most NFT projects are dying. It is undeniable Valhalla has impressive backers behind the company (including Pantera Capital and Alexandr Wang). It is, however, not clear if its traction to date justifies such a high mint price. Nonetheless, the project will likely still sell out immediately due to the current level of excitement for the project. As attention begins to shift elsewhere, Valhalla will have to push hard to maintain a floor price above its mint price in the long run. The market will decide.

• There is not much to say about the recent Vox article showing leaked messages from Sam Bankman-Fried in the wake of his FTX mess. Sam’s statements there are truly disturbing. They are also emblematic of everything that web3 is trying to destroy. Sam asked the world to trust his altruism. The motto of web3 is simple: trust, but verify. Stay safe and responsible.

Project News

• Valhalla, one of the most anticipated upcoming profile picture mints, announces a highly polarizing 0.5 ETH mint price:

  VAL | ALEX LIN @notalexlin

  After 6 months of hard work, we're finally ready to mint! Overview: 1. What is @valhalla 2. What we've accomplished 3. Mint details 4. Where we're going Don't want to read? You can watch this video instead (link in the next tweet) 1/23

• Genesis Global Capital (the sole Gemini Earn lending partner) halts customer withdrawals:

  Gemini @Gemini

  1/6 We are aware that Genesis Global Capital, LLC (Genesis) — the lending partner of the Earn program — has paused withdrawals and will not be able to meet customer redemptions within the service-level agreement (SLA) of 5 business days.

  

  bit.lyAn Important Message Regarding Gemini Earn | GeminiWe will continue to update our customers as we receive additional information.

• Azuki teases collaboration with RedBull’s Formula 1 team:

  Azuki @AzukiOfficial

  Don't want to steal anybody's thunder...but did we just see lightning? 👀 #AzukiF1 #RaceToTheNextLevel #AbuDhabiGP

  

  Oracle Red Bull Racing @redbullracing

  Outlook for the #AbuDhabiGP... a high chance of lightning ⚡ #RaceToTheNextLevel https://t.co/z191M7HBqS

• Pudgy Penguins announces custom cereal boxes with Kellogs web3 division:

  Pudgy Penguins @pudgypenguins

  We’re proud to license another Penguin from The Huddle, this time on the cover of a @KelloggsUS cereal box 🥣 Check out @thebr3akfastclb for more information on how you can get one!

• Adidas announces their collection of digital wearables called adidas Virtual Gear:

  adidas Originals @adidasoriginals

  INTRODUCING ADIDAS VIRTUAL GEAR Unveiling the genesis collection of adidas Virtual Gear 🧵👇1/6

Community News

• Highly provocative Twitter direct messages between FTX co-founder Sam Bankman-Fried were leaked by a Vox.com reporter:

  Kelsey Piper @KelseyTuoc

  Hey guys, last night in Twitter DMs I asked Sam Bankman-Fried when Alameda first borrowed FTX customer funds, what he really thinks of the SEC, and a lot more.

  

  vox.comSam Bankman-Fried tries to explain himselfThe fallen crypto CEO on what went wrong, why he did what he did, and what lies he told along the way.

• Apecoin DAO special council nomination process heats up as remaining candidates look to consolidate votes:

  Vulkan 🌋 @red_vulkan

  With 4 days left in the @apecoin DAO Special Council self-nomination process, let's take a look at 9 candidates we know of so far. There are likely more still TBA, but here are the ones we know of so far (in no particular order) 🧵

Quick Stats:

• OpenSea ETH Daily Volume: 6,149 ETH (▼ 3.01%)

• Blur ETH Daily Volume: 2,311 ETH (▼ 23.55%)

• BTC: $16,645.31 (▲ 0.76%)

• ETH: $1,209.17 (▲ 0.13%)

• Solana: $13.71 (▼ 1.16%)

• Polygon: $0.89 (▼ 1.19%)

NFT Daily Winners:

• Bored Ape Yacht Club: XX.XX ETH (▲▼► X.XX%)

• CryptoPunks: 66.79 ETH (▲ 1.20%)

• Mutant Ape Yacht Club: 10.90 ETH (▼ 0.82%)

• Clone X: 7.34 ETH (▲ 0.69%)

• Chromie Squiggles: 13.49 ETH (▼ 2.25%)

• Azuki: 9.94 ETH (▲ 4.08%)

• Moonbirds: 7.35 ETH (▲ 3.52%)

• VeeFriends: 5.99 ETH (► 0.00%)

• Doodles: 5.73 ETH (► 0.00%)

• Proof Collective: 29.00 ETH (▼ 3.33%)

NFT Daily Losers:

• DigiDaigaku: 8.40 ETH (▼ 4.00%)

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