Nfts
5 Undervalued Ethereum NFTs | Without a bank
With the specter of Blur farming no longer what it once was, the recently bearish Ethereum NFT scene may have bottomed out and could soon see a significant rebound.
Of course, in such a reversal of fortunes, big collections like CryptoPunks, Pudgy Penguins, and Miladys would probably do well, but what about lesser-known gems that may also be seriously mispriced today?
As I look around the ecosystem, a handful of small projects currently seem to be the main contenders for a second wind because they are remarkable digital artifacts.
Let’s highlight these projects and explain why they are important!
1) 0xmons
Creator: 0xmons
Current floor: 0.42 ETH
Named after its creator and first released in December 2020, 0xmons are digital collectibles of pixel monsters whose animations were created via Generative Adversarial Network (GAN) technology.
By using machine learning in this way, 0xmons is one of the first AI art projects to pioneer cryptography, and for that reason I think it will continue to age well as an AI collectibles game.
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 on-chain on 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 accessible price floor right now makes me think it’s not a bad time to pick up some of these PFPs.
3) CrypToadz
Creator: Gremlin
Current floor: 0.25 ETH
Among the most talented and iconic “one of us” artists in crypto is Gremplin and his September 2021 $10,000 PFP collection. CrypToadz was a signature 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 higher than 0.25 ETH. And, let’s say, 5 years from now, I think they’ll be trading higher than they are today because more and more people will have caught up.
4) Mutant Garden Seeder
Creator: Harm van den Dorpel
Current floor: 1.07 ETH
In my opinion, one of the most exceptional art series to come out of NFTs in 2021 was Mutant garden seeder by artist Harm van den Dorpel. In short, each of the 512 pieces in the collection dynamically evolves over time based on Ethereum block hashes, making it a truly compelling exploration of living art and digital organisms.
That said, I think a floor of around 1 ETH is simply too low for a collection of this caliber, and I wouldn’t be surprised to see these coins trading around 4 ETH again within a few years, as new collectors discover Harm’s works.
5) Terraforms
Creators: Mathematical castles
Current floor: 0.54 ETH
If you read my recent Terraforms GuideIt’s no surprise that I consider this project one of the most undervalued in Ethereum’s NFT space. Launched in December 2021, Terraforms is a 20-level virtual “Hypercastle” whose plots evolve over time via its smart contract code.
A pioneer in the art of runtime, Terraforms stands out for its on-chain completeness, continuous dynamic generation and high composability. I consider anything less than 1 ETH for this collection to be a real steal, as I believe these pieces will stand the test of time with their artistic significance.