Ethereum
5 Undervalued Ethereum NFTs | Unbanked
With the specter of Blur farming no longer what it once was, the recently bearish Ethereum NFT scene may have hit bottom and could soon see a big 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 strike me as the main contenders to enjoy a second wind thanks to the fact that they are remarkable digital artifacts.
Let’s shine a light on these projects and talk about why they’re important!
1) 0xmons
Creator: 0xmons
Current floor: 0.42 ETH
Named after their creator and first released in December 2020, 0xmons are digital collectible pixelated monsters whose animations were created using Generative Adversarial Network (GAN) technology.
By using machine learning in this way, 0xmons is one of the first pioneering AI art projects in crypto, and for that reason I think it will continue to age well as a gaming game. AI collection.
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 of storing all of its features entirely on-chain on Ethereum.
This technique has inspired dozens of other chain collections in the years since Avastars launched in February 2020, so this significant influence and the really accessible price floor right now makes me think it’s not a bad time to grab 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 summed up 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 at a price above 0.25 ETH. And, let’s say, 5 years from now, I think they’ll be trading at a higher price than they are today because more and more people will have caught up with its history.
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 collection’s 512 pieces evolves dynamically 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 ~1 ETH is simply too low for a collection of this caliber, and I wouldn’t be surprised to see these pieces trading around 4 ETH again in a few years as new collectors turn to Harm’s work.
5) Terraforms
Creators: Mathematical Castles
Current floor: 0.54 ETH
If you read my recent Terraforms Guide, it’s no surprise that I consider this project to be one of the most undervalued in the Ethereum NFT space. Launched in December 2021, Terraforms is a virtual “Hypercastle” of 20 levels 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.