In the past six months, the world has gotten used to the acronym NFT.
More than $1 billion in Cryptopunks have been sold, seven sold for more than $2 million. And Monday seemed like the wildest day yet as people were flipping Cryptopunks every six hours for a $30,000 to $40,000 profit with over $100 million sold on that day alone.
On Monday, Bored Ape #1734, which was purchased three and half months ago for $8,847 sold for $1.39 million. Even NBA Top Shot, whose buzz fizzled, started to mount a comeback.
There's not a perfect way to compare investments, but we'll do our best to explore what move was the best one over the last six months in alternative assets.
Tesla: -4.8%
Let's set the baseline with the hottest stock, which is Tesla. If you put money into Tesla stock in the last six months, you are down almost 5%.
Michael Jordan PSA 10 Gem Mint Rookie: -36.5%
Six months ago, you could buy the Michael Jordan Gem Mint 10 rookie for $630,000. Now, it's down to $400,000.
Back in February, everyone and their mother said the natural progression was up to $1 million since the people cashing out were the guys who were the ones in early and the new owner was the more wealthy holders. But the Jordan 10 supply didn't dry up like everyone said it would.
NBA Top Shot: Flat
Top Shot has really cooled down since February.
How much so? From Feb. 21-28, Top Shot's marketplace generated $98.3 million in sales in a week. The platform did $22.2 million for all of July.
Analyzing how far things have fallen is a little harder here because people that invested big seem to be hodlers/holders. A LeBron Cosmic dunk sold for a record $208,000 in February and anyone who has that is holding out hope the market bounces back.
Without definitive sales at the high level, we can't make a call here. But we heard the whisper number for that dunk is around $200,000. That's why we say FLAT, but sales indicate it's not getting better.
Cryptopunks: +615%
It has been an incredible rise for Cryptopunks, one of the original NFTs and the ones that those who don't like NFT's make the most fun of.
Well, if you don't own one, the joke is on you. Those in the NFT world love these because they have been the marketplace for years. If you bought one three years ago, you could have gotten one for $40.
Six months ago, the floor for a Cryptopunk was $34,700.
Today? $248,000!
Cryptopunk #2688 was bought on Monday night for $281,743. It was bought six months ago for $13,924. Here's the most wild stat: In February 2021, $77 million in Cryptopunks were sold. In the last 24 hours alone, $101 million were sold, according to Cryptoslam.
Vee Friends NFT: +1000%
Gary Vee's Vee Friends launch was delayed for a while, but when it launched in the first week of May his cartoonish drawings were a hit.
Not only for the drawings but the fact that the NFT came with benefits, such as a NFT holder having the right to attend a conference and other perks. Over slightly more than three months, the lower end characters are seeing returns closer to 10x, while the higher end characters are experiencing more like a 3x return.
A consistent cougar bought three months ago for $2,280 was sold on Monday for $26,213, while a Gift Goat that cost $20,778 three months ago sold for $65,148.
Zed Run: +1,900%
Those who got in on Zed Run horses at the high end are pretty happy. In mid-February, you could have bought the most expensive Z1 Genesis horses for $7,500. Today? The floor is $150,000. I sold five of them in mid May for an average of $42,500. Ouch.
Bored Ape NFT: +20,000%
Bored Ape's launched on April 23 and took off the following week. A person could have easily gotten in for $500 and today, the cheapest Bored Ape is at around $100,000. For the earliest buyers now selling, returns are between 17,000-20,000% and that's in a little more than 100 days.
