Just over a month since the launch of Aptos Mainnet and the token launch, things have still been a little shaky with some quick movements during the last week, and the dust has not settled even a bit after the FTX Collapse squeezing the liquidity out of the large players and keeping the smaller players out of the game when they wouldn’t want to risk things at this hour.
Has it been the same for Aptos NFTs? In the 2nd episode of “The State of Aptos NFTs“, we are discussing the same. If you missed the first episode, read it here.
The floor of every existing good Aptos NFT project has fallen since our last story, and that is not a sign of any panic, as you wouldn’t always see a straight upwards trajectory on any project charts. Here are some of the high-volume NFT projects with their current situation and floor price.
The prices mentioned below are a comparison of what was on November 7th, and now.
- Aptomingos was holding a good 50 APT floor price, while now it is around 28 APT
- Aptos Monkeys was at around 24 APT, and it fell down to about 11 APT floor price. The volume keeps going up, though as short-term flippers could be taking an exit to welcome some long-term holders, this is all happening at a slow pace
- Bruh Bears hadn’t minted when we made the story back then, but after the mint, the floor did jump to about 25 APT for a few minutes, but the final stable floor revolves around 6.5 APT for now
Why are the floors down from the past? That’s how NFTs work, welcome to this side of the world. The prices do see a lot of ups and downs, and while on ETH and SOL (the established chains for NFTs) see this based on how the supply and demand are based on the hype generated at times while delivering things from the roadmap, Aptos has a different reason at least for now – there are not many adopters because this is still a new chain and we still are not completely out of the FTX saga that has kept users cautious and they would want to save their capital before going degen when things get better in the market.
Recently Minted Projects on Aptos
Some of the notable projects that minted on Aptos included Aptos Undead, Spooks, a free mint from Pontem Network that rewarded every minter with 1 APT along with the NFT, and several other smaller launches on the platform.
Aptos Undead came in with a supply of 4444 NFTs and a mint price of 1.44 APT, but after holding the floor at around 2 APT for quite a while, the latest price was just around 1.6 APT. Maybe a good point to enter for those who wanted to get one because Undead does have a game being made, and there is an activity of over 13000 APT so far for this collection on Topaz.
Spooks were one of the highly hyped projects with a closed community built for weeks but the mint had to be stopped at a supply of 2222 instead of the initially available supply of 3600, and one of the major reasons for that, based on how we have seen things in the past couple of weeks, is the thin liquidity on Aptos and users not willing to spend their money into minting if they don’t see a quick flip profit, and Spooks didn’t see a rushed high floor initially, as the mint had slowed down after the initial few minutes.
Spooks had one of the highest mint prices on the chain so far, with 9 APT, but given the price of Aptos, it was an ask of about $40 for each mint, but as mentioned, the lack of new entrants into the Aptos NFT ecosystem makes it hard for projects to sell out, and while the mint had stopped, the floor is around 7.4 APT, which is lesser than the mint price. Interestingly, this also could be something aligning with the fact that Spooks had their plans out in the open, and given that people expect things to roll out the next day while Spooks have long-term plans for the Aptos ecosystem, this made many of them exit after the mint and not retain the NFTs for a longer term.
Pontem Network had introduced a mint-to-earn collection with a randomized list of allowed wallets and that was in an FCFS method. While Pontem has not yet mentioned what it plans to offer to the Pontem Space Pirates holders, the anticipation of an airdrop or something good has made many try to own one and that has given this collection a good 35000 APT volume so far.
BlueMove had a few launches on the launchpad and one of them was Aptos Kids which was fully minted with a collection of 999 NFTs and a price of 0.99 APT for each. The floor sits at just around 0.7 APT and just about 320 APT of total volume. A free mint of Tigers Aptos Club saw a total volume of about 800 APT and the floor is at around 0.3 APT. Some other mints on BlueMove included Aptos Bearables, Into the Chibverse, APTOS YACHT CLUB, Cute Elf, Arcana Eggs, and some more, with all these through the launchpad, yet most not getting fully minted unless they were offered as free mint.
Souffl3 also had made some launches on its launchpad, including Gakusei Aptos Club, Aptos Human Club, AptosYo, and The Aptonians which minted at a price of 2.5 APT for each, and a supply of 1111 NFTs, while THING with a free mint was the most successful as the floor still is at 1.24 APT with a supply of 4444 NFTs.
Upcoming mints worth watching
Aptos Alpha Alpacas
The Alpacas that we listed under the best Aptos NFT projects are going to mint on November 30th, with a total supply of 3333 NFTs and a mint price of 3 APT, irrespective of the Aptos cost during the mint time. The Alpacas are one of the older and well-recognized projects and took a while before finally announcing the mint date and the details around it.
— 🦙 (AAA) Aptos Alpha Alpacas 🦙 (@AptosAlpacas) November 27, 2022
I’ve had quite a good conversation with the co-founder of Mavrik, and there were reasons why we have it on our list of the best Aptos NFTs to check out and own. MAVRIK has airdrops of cars that can be customized and then be raced and that’s only a part of the entire plan, so there is a lot to expect from this project as well, and the mint is scheduled for December 7th, with a mint price of 5 APT.
Are free mints doing any good?
There are several free mint projects that keep coming up, and given that Topaz lists almost everything that is on the Aptos Blockchain, some of these free minted ones randomly pump for a while before dropping to almost negligible price, while there is no real value provided in most of them, so while we might gladly be filling up our wallets with these JPEGs, only time will tell if they hold any value. But hey, if it is free, worth a try right? I would rarely put my money into FOMO’ing and buying these freely minted NFTs from the secondary marketplace unless the developers or artists behind those collections promise or at least show signs of working on something.
Nevermores being derugged?
Now, based on what I mentioned above, you should know that Nevermores, the project which was appreciated a lot for its art, RUGGED and the team never showed up back on the Discord server after the mint. They were there for an initial couple of days, and they also had shown some intention of moving to some other chain (which raised some red flags) but later, they just disappeared. The data on the chain shows that the amount received from the mint and from the royalties was sent to an FTX deposit address, so one could draw some conclusions from there but just not showing back tells you that it was a lost hope. Until now, though. Read on.
A group of Nevermores owners came together to explore the option of reviving the project from where it was left. Based on the chat so far, it seems that Topaz too is going to get involved in helping with the re-minting of the NFTs into something else and then, carry out with a plan of offering some utilities and following a roadmap (not aligned to the original one that was given by the team that rugged and ran away). Let’s hope something concrete comes out of it and we see this group reviving the project successfully, and if you want to help or contribute in some way, they have a Discord server where you can discuss.
As always, this is the real coverage and nothing biased towards any project on Aptos, and I would love to chat if you have any contradicting thoughts, or if you wanted to add anything here. I am available on Discord at Chetan#7559 if you wanted to chat.