🐧 Is this NFT a screaming buy?

GM everyone. This is 2036. We scroll for gems all day so you don’t have to.

Here’s what we’re serving up today 🍲: Since my email on Monday, MadLads NFTs are up +30%. Tensorians are up +21%. Are there any undervalued NFTs left?

Let’s dig in.

I’ve said it before, but I’ll say it again for those in the back: if crypto is the wild west of finance, NFTs are the wild west of crypto.

NFTs are like memecoins - but with pretty pictures attached to them.

They’re a gambler’s paradise.

NFTs typically come in collections made up of 10,000 similar-looking NFTs.

At launch, investors can buy (“mint”) these for $200-$2,000 each.

And that’s when the fun begins.

Some collections die a slow death by a thousand cuts. Others skyrocket 🚀

In the last bull market, the mint price for a Bored Ape was $200.

Exactly one year later, the minimum price of a Bored Ape was $430,000.

Now that’s a good return.

Stories like these are rare - but enough to attract millions of speculators.

Right now, the fight for this cycle’s winners has begun.

Solana is where the new land grab is the most obvious. The ecosystem is booming, and there isn’t yet one established collection that dominates them all.

But some are getting there.

A MadLads NFT is now ∼$14,000 - up +57% in the last seven days alone.

And on Ethereum, a resurgence is happening in an unexpected collection most people don’t even know exists.

Enter Lil Pudgys.

Lil Pudgys are the cheaper cousins of the big NFT collection Pudgy Penguins.

Last year, Pudgy Penguins was a dying collection - plagued by issues around its founders.

So Luca Netz, a crypto entrepreneur, bought the rights to the entire collection for $2.5M.

He then started doing what most collections aren’t willing to do: mass-market initiatives.

Pudgy Penguins went big on short-form content. They now have 1 million followers on Instagram.

And two months ago, they started selling toys that are now toys available in 2,000 Walmarts across America.

On Cyber Monday, they were featured on Walmart’s home page.

It’s no surprise they’ve already sold over a million toys.

The brand’s made a comeback. Since the acquisition, the floor price (= lowest price) has doubled.

Today, a Pudgy Penguin is worth 9 ETH (∼$20,000).

So it’s not the Pudgy Penguins catching our eyes… but the Lil Pudgys.

They’re part of the Pudgy ecosystem and benefit from the brand association - but start at a much lower price point.

This is common in big collections, by the way. It’s attractive for mass adoption.

The Bored Apes have the Mutant Apes, Azuki has Beanz and Elementals, etc.

And right now, you can still get a Lil Pudgy for around 0.8 ETH (∼$1,760).

That’s more than 2X the price a month ago. But it’s -28% below its all-time high just a few days ago.

This is not financial advice, but if I were looking to buy NFTs today - I’d look at Lil Pudgys.

1/ DOGE token soars

2/ …and so does $BONK - a Solana memecoin

3/ Bitcoin futures interest nears 2021 all-time-high (a.k.a Bitcoin could have a lot higher to run)