Transaction date in and date out: mint on April 23th at 5.2 ETH and sold on May 8th at 2.0 ETH. Net loss on the transaction.

• Background about Anata: Anata is the first NFT you can literally be. They use your webcam to track your face and mimic your movements exactly. You can use your Anata avatar for work meetings, community calls, TikToks, game streaming, Vtubing, Vlogs and more. It is an NFT with utilization. Anata launched 1,920 items with ranked auction.

• Investment thesis: Utilization NFT can be the next trend within the NFT world. Vtuber NFT with 3D movement is a very natural extension of PFP. Anata is incubated by Hologram.xyz, which is a star tech-company that enables artists to create 3D based NFT characters. It is invested by Paradigm and advocated by Matt Huang, which suggest a relatively good product quality outcome. Team with very successful track record previously in the DeFi area and has strong confidence and full devotion in this project. 50% of the treasury receive from auction would be located in the Anata DAO to enhance further development, which seems promising for long-term development.

• Reflection: Cost control is very important. The public auction process creates strong FOMO and incurs the price up to 5.2ETH, which is insane from current point of view. Cost control must be strictly conducted when attending these projects in case of FOMO. DeFi team do not understand NFT. NFT is about community and brand, while after minting there’s no improvement on this. PFP project is still the main stream of NFT. Need to be careful on music, 3D or other types of NFT deal.