Framework to Analyze NFT Projects

I ruptured my Achilles in the early summer of ‘22, so I decided that I wanted to be an NFT trader with the extra spare time I have now. To not be a complete degen aping into projects, I attempted to create a more systematic — yet simple — diligence process. I came across a helpful Bankless article by William M. Peaster that gave me the general skeleton of the template, which I then customized. The source of the original article is below. In the following, I provide an example of a qualitative analysis that I initiated on The Possessed. Ostensibly, the template is a tad basic, but going through the mental gymnastics will hopefully keep me disciplined and I plan to continue to iterate on this. Perhaps eventually, the future iterations will be more quantitative. Feel free to reach out if you found this useful. I am friendly :)

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Project Name: The Possessed Date of Analysis: July 9, 2022 Website: https://pssssd.xyz/ Twitter: https://twitter.com/ThePossessedNFT IG: https://www.instagram.com/ThePossessedNFT/ Category: PFP Collection

Executive Recommendation: Overall solid project with experienced creators that founded businesses in the meatspace. The founders appear to be very thoughtful. For example, they designed a mechanism to filter out bots in their allow list. I recommend initiating a position in a fair value of .2 to .3ETH range.

  1. Lore or narrative (8.5/10)

    • Creative theme of a “contained outbreak”

    • Mission to reawaken your creativity and promote CCC (Creativity, Community, Collaboration)

  2. Artists/ creators (10/10)

    • PSSSD Labs with HQ in London

    • Joe: https://twitter.com/whatthefurr; https://mirror.xyz/whatthefurr.eth/glbQ_atZlEQj3UFhM3THuXKm4dj8C-G_yAkMFTlf4Vo

    1. Founder of Point.Studio: https://www.point.studio/

    • Tom: https://twitter.com/tmw_buidls; https://mirror.xyz/tmw.eth

    1. Creator of Hubble: https://hubblehq.com/

    2. Member of FWB

  3. Technical characteristics (7/10)

    • ERC721

    • tokenURI: https://collection.pssssd.xyz/tokens/blessed/

    • Metadata is either stored on the team’s own server or will transition to IPFS over time as per the team on Discord

  4. Art and aesthetic characteristics (8/10)

    • Animated art appears to be high quality and is unique

    • There can be 2 states of blessed or possessed

    • Creatively, you can select the default state of the PFP

  5. Scope and supply (8/10)

    • Supply of 10K NFTs

    • Treasury holding 250 NFTs

    • Creator fee of 5%

  6. Secondary market dynamics (8/10)

    • Mint was on June 30, 2022 for .25ETH for AL (test subjects) and .35ETH for public

    • Prices went to .4347ETH volume of 3,343ETH by July 1, 2022

    • ATH floor of .6185ETH

  7. Community (8/10)

    • Discord appears civil and moderated

    • Non-holders can view the creative-discussion channel but cannot comment

    • The moderators have a novel rule where they turn off the Discord chat— not allowing for any comments in the different channels — during the weekend

  8. Roadmap (7/10)

    • Relatively clear roadmap but understands that a highly detailed roadmap may be too rigid for what they want to achieve in experimentation with exploring creativity

    • https://pssssd.xyz/experiments.leak.doc

  9. Use cases (7/10)

    • Mostly just a collectible that will be experimenting with “enhancing creativity” as part of its ethos

Source of inspiration:

https://newsletter.banklesshq.com/p/how-to-approach-nft-fundamentals

My Twitter Account: @BtownLadies