Echoo Research https://paragraph.com/@Echoo_Research Bring NFT Index🎯, Insight🧐 and Inspiration 👁️ to All. Sun, 19 Apr 2026 14:56:52 GMT https://validator.w3.org/feed/docs/rss2.html https://github.com/jpmonette/feed en Echoo Research https://storage.googleapis.com/papyrus_images/55c37560102e438d9f3e9bbe8876793a https://paragraph.com/@Echoo_Research All rights reserved <![CDATA[The Ultimate NFT Project Comparison - Part 1 | Echoo Research]]> https://paragraph.com/@Echoo_Research/the-ultimate-nft-project-comparison-part-1-or-echoo-research qEMBJxEjaJqrQfzRqzgr Mon, 14 Nov 2022 00:00:00 GMT

As we have been suggesting in previous weeks, the NFT market has reached a new price low for the year. With most NFT projects facing liquidity crises and price declines at a time when the NFT market is uncertain, blue chip NFT remains to be our preferred buy option.

Echoo Research classifies NFTs into 6 grades based on recent NFT data and on-chain metrics. It also performs lateral comparisons at each grade and gives preferential recommendations.

NFT Value Buys: 1V1 Price Comparison

1.Bored Ape Yacht Club vs. CryptoPunks

As of November 11, the floor prices for Bored Ape Yacht Club and CryptoPunks are 60.95 ETH and 64.65 ETH respectively.

Floor price trend of Bored Ape Yacht Club and CryptoPunks

After eliminating the extremes, we found that Bored Ape Yacht Club's floor price was higher than CryptoPunks 94% of the time this year. The trend began to shift since October as both prices became closer, and Bored Ape Yacht Club's price has recently fallen below CryptoPunks'. Taking into account the current price and the historical increases, Bored Ape Yacht Club is better than CryptoPunks in terms of cost performance.

From the price stress test, Bored Ape Yacht Club rallied more than CryptoPunks when it hit its historical relative price lows, with multiple rallies amounting to more than 50%. On the contrary, CryptoPunks hit its price lows and even fell below the bottom several times. In terms of holder distribution, Bored Ape Yacht Club and CryptoPunks holders each own 1.56 and 2.78 NFTs on average, which means Bored Ape Yacht Club has a more even distribution than CryptoPunks.

Priority: Bored Ape Yacht Club> CryptoPunks

2.Mutant Ape Yacht Club vs. Azuki

As of November 11, the floor prices for Mutant Ape Yacht Club and Azuki are 10 ETH and 10.83 ETH respectively.

Floor price trend of Mutant Ape Yacht Club and Azuki

Data comparison tells us that the floor prices of Mutant Ape Yacht Club and Azuki are correlated (correlation coefficient: 0.725), and Mutant Ape Yacht Club's price is consistently higher than Azuki's for 93.6% of the time this year.

Viewing from the relative low in August and the current trend, the floor price of Mutant Ape Yacht Club is down 11%, while the floor price of Azuki is up 60%. Azuki's recent price has outperformed Mutant Ape Yacht Club. Even though the two prices have started to converge recently, we conclude that Mutant Ape Yacht Club is a better buy than Azuki.

Excluding the price fluctuations due to events (Azuki founder's drama), when both projects hit historical price lows, Mutant Ape Yacht Club's rebound is slightly stronger than Azuki's, and the volatility of MAYC is also greater than Azuki's. Considering the return ratio, Mutant Ape Yacht Club is still a better buy than Azuki at the moment.

Mutant Ape Yacht Club outperformed Azuki in terms of holder distribution, whale holders, and existing pending orders rate.

Priority: Mutant Ape Yacht Club > Azuki

3.CloneX vs. Moonbirds

As of November 11, the floor prices for CloneX and Moonbirds are 7.49 ETH and 7.5 ETH respectively.

Floor price trend of CloneX and Moonbirds

Due to the huge fluctuations in values at the beginning of the project's launch, Moonbirds only completed its launch in April this year, so we will only compare the data obtained since June.

As seen from historical trends, Moonbirds' historical price has always been higher than CloneX, and so is price volatility. It wasn't until October that the prices of both projects started to come closer and are now stable at around 7.5 ETH. Compared to Moonbirds' price, CloneX has maintained a relatively stable volatility. Judging from the historical price curve, Moonbirds is more cost-effective to purchase. Furthermore, price stress test has proven that CloneX is more stable and resistant to stress, and performs significantly better than Moonbirds when encountering major impacts.

In addition, when it comes to holder distribution, whale holders, and existing pending orders rate, both projects have their respective advantages and disadvantages. Details are as follows:

Priority: Moonbirds > Clone X

4.Doodles VS VeeFriends

As of November 11, the floor prices for Doodles and VeeFriends are 6.25 ETH and 6.11 ETH respectively.

Floor price trend of Doodles and VeeFriends

Doodles has a significantly higher floor price than VeeFriends 71% of the time this year. Particularly from April to August, the floor price of Doodles was consistently higher than VeeFriends by nearly 2.5 ETH. In the price stress test, Doodles rebounded stronger than VeeFriends at the two NFT price lows and the overall market relative low this year. Besides extreme values, both projects see their prices fluctuating between 5-15 ETH. Therefore, Doodles is currently a better buy than VeeFriends.

In addition to this, Doodles' holder distribution is 1.85, slighly lower than VeeFriends' 1.96. Moreover, VeeFriends' current pending order rate is slightly better than Doodles'.

Priority: Doodles> VeeFriends

Pls subscribe us to stay tuned to the project comparison part II

DYOR. Please consult with a financial advisor before making any investment decisions. Echoo Research does not provide any financial advice and the above contents are only for informational purposes.

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]]> echoo_research@newsletter.paragraph.com (Echoo Research) <![CDATA[OpenSea's Royalties Debate | NFT Alpha Tweets #17 ]]> https://paragraph.com/@Echoo_Research/openseas-royalties-debate-or-nft-alpha-tweets-17 ST0ZVju3nmyhObAAK6qC Sun, 13 Nov 2022 00:00:00 GMT

OS' move of course doesn't mean royalties are protected. Quite the opposite. More than 50% of BAYC, RENGA, CloneX, Otherside, Azuki, DigiDaigaku, Potatoz & many others' volume is already royalty free, and it's been getting worse.

Why Eric Choi thinks the NFT photography market will continue growing in the future？

This is the list of tools that Kaleve uses the most in the daily trading routine.

DYOR. Please consult with a financial advisor before making any investment decisions. Echoo Research does not provide any financial advice and the above contents are only for informational purposes.

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]]> echoo_research@newsletter.paragraph.com (Echoo Research) <![CDATA[Weekly Report #45 Market Analysis + Index Signals]]> https://paragraph.com/@Echoo_Research/httpsechoosubstackcompweekly-report-45-market-analysis ix8Pce1hL8j36YVpBxCI Tue, 08 Nov 2022 00:00:00 GMT

CONTENTS

1.Weekly Market Analysis

Market Volume/Traders/Blue Chip Index/Whale Capital

2.Index Signals

  • NFTs Bottom-fished by Whales Last Week

  • Trading Signals for Blue Chip NFTs

  • SMA Trends for Blue Chip Collections

1. Market Analysis

Weekly NFT Market Volume (Source: echoo.substack.com)

This week's volume saw a significant 30% increase WoW. Even though the number has temporarily returned to the market level of September, it does not represent the overall trend of the market, as this statistical uptick is mostly attributable to the trading hype of individual projects (for example, Art Gobblers' weekly trading volume hit 4468 ETH). On the other hand, most classic NFT projects remain low on trading volume. We will keep a close watch on market data to find out about the possibility of a rebound.

It is worth noting that, having gone through two previous cycles, the NFT market is now in the "mild contraction" phase. This phase is characterized by extremely weak trends and a prolonged period of minimal trading volume. This indicates that most people have a very high degree of recognition of the market's future trends.

Weekly Trend of NFT Traders (Source: echoo.substack.com)

The number of traders fell 7% this week compared to last week, breaking the lowest figure seen in May and setting another record low of the year. Participation in the NFT market remains low. As seen from trading activities, sellers continue to outnumber buyers. People are more inclined to sell their NFTs now.

Market Cap Trend of Blue Chip NFTs (Source: echoo.substack.com)

As for whales, the size of capital outflow has reduced this week despite whales' participation remains on the low. While major whales prefer to staying out of the market, some smaller whales still trade in the market. These whales participate in the NFT market with a small capital size, and they trade fast with the "fast in, fast out" strategy.

2. Index Signals

Note: Trading risks are high due to the recent sluggish market performance. The data and analyses provided by Echoo Research are for reference only.

2.1 NFTs Bottom-fished by Whales Last Week

This week, Art Gobblers, Art Blocks, and CryptoPunks top the list of most-bought NFT collections by whales.

Some whales with a smaller capital size also bought into projects like Mint Pass Mexico City MPMX, SPLOOT by De la Dondi, and LOSTPOETS: POETS.

The figure below shows the top 15 NFTs bought by whales and the amount and average costs.(Some values may be affected by extreme values and are for informational purposes only.)

NFTs Bought by Whales

2.2 Trading Signals for Blue Chip NFTs

With the recent contraction in trading volume and reduced price volatility, short-selling signals are triggered less. This also reminds us that we should minimize our operations and wait patiently for the right timing. See below for details:

(Note: This signal is used for short-swing trading and is only suitable for actions within the volatility range. When unilateral trend arises, inaccuracy might occur.)

Buy-sell Signals

2.3 SMA Trends for Blue Chip Collections

Ever since the beginning of of October, short-term trends have been suppressed by long-term trends, resulting in a lack of rebound momentum in the NFT market.

Recent trend: This week, the SMA (5) trend line remains below SMA (10), which means the near-term market will stay weak.

Long-term trend: The entanglement of short-, medium-, and long-term trend lines are getting tighter and are suggesting the emergence of a new direction soon. We will keep a close watch on these trends.

(Note: This indicator is obtained through market simulation of blue chip market caps and is used to predict market trends.)

Market Trend of Blue Chip NFTs (SMA)

DYOR. Please consult with a financial advisor before making any investment decisions. Echoo Research does not provide any financial advice and the above contents are only for informational purposes.

]]> echoo_research@newsletter.paragraph.com (Echoo Research) nft report <![CDATA[Special Series: Art Gobblers Analysis — Formulator of A New NFT Model]]> https://paragraph.com/@Echoo_Research/special-series-art-gobblers-analysis-—-formulator-of-a-new-nft-model 2XCR8ckrESYs9OlzcLcT Tue, 08 Nov 2022 00:00:00 GMT

Table of Contents

Introduction

  1. Fusing Creativity and Gameplay

  2. Goo + VRGDA

Data Performance

  1. Market Data

  2. Holders Analysis

How It Works

  1. Goo→Blank Pages→Drawn Pages→Gobblers

  2. Legendary Gobblers

  3. Merging Ownership

Variable Rate GDAs

  1. Pricing Reference Formula and Curve Fitting

  2. Quantity Reference Equation and Curve Fitting

  3. The Ideal Time-Sales Curve

GOO: Gradual Ownership Optimization

  1. Goo Supply Curve

  2. Balancing Strategies：

  3. Goo Production Rate

Introduction

Art Gobblers is an NFT project designed and distributed by Justin Roiland and Paradigm.

Justin Roiland is a voice actor, animator, producer, and director. He is best known for his voice acting in Rick and Morty, an animated sitcom. On the other hand, Paradigm is a leading crypto investor that has invested in stellar projects such as FTX, Uniswap, and Magic Eden.

The team employs multiple bold and innovative mechanisms in the design of Art Gobblers, including Variable Rate GDAs and Goo (Gradual Ownership Optimization), which are useful for solving the common challenges encountered by current NFT projects.

1.Fusing Creativity and Gameplay

The Art Gobblers website (https://artgobblers.com/draw) allows people to create artworks with drawing tools, and the work created is fused inside the belly of Gobblers, resulting in a unique collaborative NFT piece.

Tools

Generative mechanisms

2.Goo + VRGDA

The initial 2,000 Gobbler NFTs are issued as a free mint. Over the next 10 years, players will spend Goo to mint 8,000 more Gobblers using VRGDA.

Goo is an ERC 20 token produced by Gobblers NFT. The more Goo Gobblers have in their Goo tanks, the faster they squirt out more new Goo. Since the supply of Goo can start at zero and end up in the billions, the game can't be balanced by giving items fixed prices in Goo, which is why the team designed the VRGDA mechanism that automatically adjusts the price over time.

Gobblers squirting out Goo

By designing the Goo + VRGDA mechanism, the project has achieved the dynamic adjustment that "when players spend Goo to redeem Gobbler, the VRGDA price of others redeeming Gobbler will also be affected".

Data Performance

Art Gobblers opened free mint for mintlist on October 31st with an initial release of 2,000 NFTs, of which 300 slots were allocated to initial contributors of the project and the remaining 1,700 slots were allocated to collaborators, artists, collectors and other community members.

1.Market Data

As of November 4, 2022, Art Gobblers has a floor price of 8.6 ETH, a total trading volume of nearly 10K ETH, and 815 holders. Holders each hold 2.32 Art Gobblers NFTs on average.

Art Gobblers volume and floor price

2.Holders Analysis

19.24% of the holders are blue chip NFT holders. This includes 39 Azuki holders, 37 Moonbirds holders, and 36 Doodles holders.

The holder composition of Art Gobblers

How It Works

1.Goo→Blank Pages→Drawn Pages→Gobblers

Art Gobblers holders produce Goo tokens, which are used to produce the blank pages needed to make art.

Players generate artwork (Drawn Pages) from blank pages, and synthesize artwork and Gobblers to display artistic Gobblers.

Synthesis steps

2.Legendary Gobblers

In addition to regular Gobblers, a new Legendary Gobbler appears each time an additional 10% of the total supply of Gobblers is issued. Legendary Gobblers produce Goo at twice the rate of the regular Gobblers.

The first Legendary Gobbler will start at a price of 69 Gobblers, and will become cheaper using a standard Dutch Auction mechanism until it is purchased. Each successive Legendary Gobbler will start at a price in ordinary Gobblers equal to twice what the last Legendary Gobbler sold for.

Legendary Gobblers

3.Merging Ownership

When a creator combines an artwork with Art Gobbler, ownership of that artwork page is transferred from on-chain to the Art Gobblers contract, which completes the mapping of the artwork with the Gobbler. If the creator transfers the Gobbler, both its contents and the artwork will transfer with it.

Examples of Artwork (Drawn Pages)

Variable Rate GDAs (VRGDAs)

In order to achieve the goal of "offering NFT quickly at first, then more slowly over time, but never stopping", the team designed VRGDAs.

The novelty of this token issuance mechanism is that the price is dynamically adjusted according to the number of sales and purchases, allowing NFT to be sold at a predetermined price.

In simple terms: on day 5, 50 NFTs are expected to be sold, but the market is particularly hot and 70 NFTs are sold, at which point the price will be raised by a function calculation to make it more difficult to buy NFTs. Similarly, at a specified time, when the number of sales is less than the expected number, the price will be lowered to stimulate buying activity.

1.Pricing Reference Formula and Curve Fitting

2.Quantity Reference Equation and Curve Fitting

3.The Ideal Time-Sales Curve

The release schedule was used in conjunction with the VRGDA formula to obtain a more desirable time release curve, and to achieve the original motive: "release NFT quickly at first, then more slowly over time, but never stop".

The project applied this theoretical model in the case of Art Gobblers to control the growth of the community and the pace of UGC.

For more information: https://www.paradigm.xyz/2022/08/vrgda

GOO: Gradual Ownership Optimization

To prevent fragmentation of ownership between Gobbler NFT holders and GOO token holders, the project has devised a mechanism to combine Gobbler NFTs with Goo tokens.

1.Goo Supply Curve

The more Goo a Gobbler owns, the faster it generates Goo. The total supply curve is as follows:

2.Balancing Strategies:

(1) If a user only owns Goo tokens and does not hold Gobbler NFT, other people holding Gobbler NFTs will keep producing Goo tokens and that user's share of the total Goo supply will rapidly decrease and thus making him lose money.

(2) If a user owns a Gobbler NFT, that user's Goo will always have a fixed percentage of the total Goo supply because the Gobbler NFT will keep producing Goo.

3.Goo Production Rate

（1) Restricting the production of Goo per Gobbler

The more Goo added to a single Gobbler NFT, the smaller the instantaneous production rate of the Gobbler NFT. This will prevent users from adding a large number of Goo to a single Gobbler. The formula is as follows:

（2）Encourage multiple Gobblers to optimize Goo production rates

Users can distribute their Goo among multiple Gobblers to maintain optimal productivity.

This mechanism, while designed for the Art Gobblers project, also applies to any NFT project that has issued ERC 20 tokens, and it aligns ERC 721 NFTs with ERC 20 holders while ensuring the priority of NFTs.

DYOR. Please consult with a financial advisor before making any investment decisions. Echoo Research does not provide any financial advice and the above contents are only for informational purposes.

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]]> echoo_research@newsletter.paragraph.com (Echoo Research) nft insights <![CDATA[NFT Alpha Tweets #16 Everything You Need To Know About Art Gobblers]]> https://paragraph.com/@Echoo_Research/httpsechoosubstackcompnft-alpha-tweets-16-everything-you N0LW0t7nZvRNnVaNYkQZ Sat, 05 Nov 2022 00:00:00 GMT

Between a cool and challenging drawing tool, 1/1 art, and an interesting drop mechanic, this project is more than just another PFP project.

What can we learn from the "hype"?

  • NEEDS ART to be valuable long term

  • Talented creators & hyped w/ small supply could cause a mega pump

  • Continued supply influx with no team building stuff could cause a dump

  • Rewarding tokenomics for early participants and systems to maintain ecosystem balance

Moonbirds collectors are the biggest holders of Art Gobblers, with 48 mutual holders and Azuki holders coming in close at 46. Check out more data analysis about Art gobblers with Lowes.

How to get Art gobblers' whitelist？

Learn more about Art gobblers' tokenomics, written by Tory Green

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DYOR. Please consult with a financial advisor before making any investment decisions. Echoo Research does not provide any financial advice and the above contents are only for informational purposes.

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]]> echoo_research@newsletter.paragraph.com (Echoo Research) alpha discovery