Topic: The Historical NFT Speculation & Appreciation Thread - page 3. (Read 813 times)

Haven't updated this thread in a while. I thought it would be cool to post some prior forum references to historical NFTs (these are posts from non-issuers/creators).

This one is from Robness who is a fairly well-known crypto artist (he also went by the name GrounBEEFTaxi on the forum):


At the price of BTC on the date of the post, he wanted around $21k, which seems like a lot, but now they go for $220k to $300k.

Many people don't see the unlimited potential in nft space hence they take it for granted, they only regard it as jpeg with no value. Time will make them understand how interesting and valuable this nft space is. This historical nft looks cool and very rare which means there won't be any such copy available elsewhere, and the price though..... can't believe each can be this expensive 

Two RAREPEPEs (Nakamoto Cards) Purchased in Same Day

https://twitter.com/EmblemVaultBot/status/1563077252983635969



Two wrapped RAREPEPE cards (the original & most valuable Rare Pepe) were sold within a few hours of each other; one for 6.64 BTC (~$142,400) and the other for 6.54 BTC. This is huge, not only in dollar terms and significance, but because the new price floor for these cards in now 12 BTC.

Here's 11 "Counterparty Grails," which tend to be extraordinarily valued and somewhat hard-to-find. I don't own any full ones, but I own fractions of a couple (some "grails" are actual divisible tokens, lol):



The ones I'd like to get my hands on that are within my price range are UMBRELLA and CCGBTCONE (anime-looking one that Elon once used as his Twitter PFP).

Bored Ape Yacht Club gets flipped by CryptoPunks:

An exciting development in the world of Historical NFTs.

Even though I own neither, its worthy of a mention.

https://decrypt.co/107911/cryptopunk-ethereum-nfts-floor-price-flips-bored-apes-for-first-time-in-5-months



On Aug. 19, the average price and floor price of CryptoPunks, recognized as the first truly popular 10k PFP NFT collection (2017), briefly overtook the same metrics from Bored Ape Yacht Club (2021), representing a shift in market appreciation from projects with social media-driven clout to those with historical provenance.

Today let's mention a few of my NFT bags.

I bought these b/c I believe they fit the Historical NFT Thesis (as stated above) and will increase in value as more collectors enter the crypto economy. I also try to buy stuff that is aesthetically pleasing to me. This combination rules out just about everything on Ethereum. These are all somewhat affordable compared to the ridiculous price tags of some leading NFT brands.

Up first, we have DOGECOINCARD on Counterparty (BTC). This is from Spells of Genesis, a project that is considered to be the first crypto collectible series. It was a trading card game that still works to this day (kinda). Cards for the game could be purchased or won in-game by completing certain requirements. DOGECOINCARD didn't actually serve a function in the game but it looks cool.



Next up we have Adam Bomb on WAX. Adam Bomb is the most recognizable and iconic of the Garbage Pail Kids series, which started out as trading cards in 1985. Adam Bomb is card #8 of series 1. The first two years of GPK got released as NFTs on WAX before Topps pulled the plug on them. Nevertheless, Adam Bomb NFTs are somewhat scarce and a cool digital artifact to own.



For #3 we have JOLLYROGER, which is a Dogeparty token (DOGE) from Aug. 19, 2014 (coming up on its 8th birthday next week). JOLLYROGER is HUGE because it is one of the first instances of somebody ever using a blockchain protocol to associate an image with a token. It predates anything like it on Bitcoin or Ethereum. With a supply of 550, it is somewhat limited and considered to be the "Dogeparty Grail Token."



The final item for today, we have LORDKEK, which is one of the most famous Rare Pepes. With a supply of only 10 and a market cap of $163 million, its pretty near-impossible to buy a whole LORDKEK and whole ones seldom change hands. Since it is a divisible token, however, you can buy mere satoshis-worth of one at a time (which is how I buy it, and I own but a tiny fraction of one, lol). It is said that LORDKEK brings good luck to all who hold it, and my few satoshis worth of one still look cool sitting in my Counterwallet.

There needs to be a system already in place that is capable of individually identifying each token as unique. But its not even a token to begin with, because there is no smart contract or protocol guided by an enforceable set of rules to define its properties or move it with.

For example, if I mint myself a Bored Ape using my own contract, just copying the original contract, it won't magically be added to OpenSea's collection of Bored Apes with all the others. This is because Bored Apes have individually defined properties assigned to them through their particular contract.

People had been embedding image-related data in Dogecoin OP_RETURN transactions years prior but nobody ever claimed them to be NFTs. By Feb 2014, there had already been quite a few images put on the Bitcoin blockchain this way:

http://www.righto.com/2014/02/ascii-bernanke-wikileaks-photographs.html

However, since they lack a means of transfer, they are not tokens.

CMIIW but you can pretty much do that with any NFT. The way to spot the real one is to find the first one or the one that is linked with the known address/smart contract that "minted" the original one
Or am I over simplifying it ?

Good question. I like Counterparty more because it is simply a protocol that reads extra data in Bitcoin transactions, as opposed to Stacks which is its own blockchain that interfaces with Bitcoin. All Counterparty txs occur as BTC txs, so it seems to be "purer" from my point of view, which also includes Bitcoin being the gold standard network for NFTs. Meaning, if you want your NFT to have a good shot at lasting "forever," Bitcoin is the best chain to mint it on. And might as well do it with Counterparty as it is 100% on-chain.

What inevitable360 "made" isn't actually an NFT -- its simply an image hash embedded in the OP_RETURN field of a Dogecoin transaction, which is actually the field Counterparty (and Dogeparty) uses for its transaction data. The main difference is Counterparty/Dogeparty data is encrypted and interpreted by a protocol run by a node.

A while back I actually recreated his transaction and sent it to myself and to him as well, so now there are 3 copies of his "NFT" out there.  

You can verify it by checking the content of the OP_RETURN field as shown in the block explorer in each transaction.

(which is funny because you're not supposed to be able to "copy" an NFT -- that's one of the things that makes it an NFT -- nevermind the fact he never actually built a protocol that transfers it)


So yeah, the tech behind Counterparty has been quietly brilliant for over 8 years now. Its what has allowed Rare Pepes to have such huge success, as well as Spells of Genesis and several later projects. Its pretty much tamper-proof as there is no way to trick the protocol into copying tokens or giving you other peoples' tokens.

There's a pretty strong scene of artists in Counterparty at the moment. Dogeparty lags in this department, but also has its own scene, albeit much smaller.

Is still Counterparty the way to go in regards to BTC NFTs ? (genuinely curious)
What about staks or others... even this one ?

Yes, most of the NFTs in the price infographic are illiquid. No doubt about it. Only way to make them "liquid" is to put in a sell offer significantly below the price floor. Or a buy offer significantly above price floor.




There likely is some of that in the NFT world in general, but not these. People that buy historical NFTs are either serious collectors, or serious flippers, or both.

---

POV: you waited too long to collect some decent historicals at low prices, and now the bull run has started again



Q: But where do I start?

A: I will break it down for you in my next post.

Here's some free alpha in the meanwhile:

1. Download the Counterparty Freewallet,
2. buy some XCP from a Dispenser, and
3. search the Exchange markets for deals on Rare Pepes.

Oh wow, you are correct!

But it seems those seem to have been only sold once, making them highly illiquid store of value. I guess that's pretty usual in very small niche markets since collectors have to really love or to believe in them. Then there's obviously that cynical view that these could be just money laundering trough art (layering), which isn't that unusual.

But then again, +500k usd deals are always money considered to be laundering until they buy it from you .

Nope, the prices are based on either today's price of ETH or higher.

The ones in the top row don't change hands very often because most of them are 1 of 1s. Except for Cryptopunks (the first ones), which have a current floor price of 281 ETH.

QUANTUM was famously sold in a Sotheby's auction last year for $1.4 million.

A RAREPEPE sold for 200 ETH in Sept 2021, when the price of ETH was $3,300.

A SATOSHICARD sold for 300,000 USD in January.

A FDCARD sold for 147.39 ETH in February.

Here's another good graphic, though it leaves out Dogeparty, where most of my stuff is:



For a more detailed timeline, click here.

I am assuming those eth prices of those earlier nft prototypes were from the past when eth was way more cheaper and not their current estimation market rates. If they are trading at all these days. Because i seriously would be surprised to know that 100 to 249 eth works were actively traded at that price.

OK so I'm gonna make it my mission to get this forum interested in Historical NFTs.

Where can we start...

You will definitely want to own at least a few of these going into the next bull market. When I came into the scene, a lot of these had huge price tags which are now significantly reduced due to bear market conditions. DYOR, feel free to ask questions here, but you'll definitely want to get at least a couple of these:



Here is the tweet containing the full image for those who want to see it in its full glory, and have a bit of context from the graphic's creator.

These are the true blockchain collectibles out of the trillion+ NFTs that have ever been minted. A lot of them aren't actually "NFTs" per their strict definition, but rather simply tokens or assets. The fact that they have an early mint date is what makes them valuable. Of course having good art is nice, but creation date far supersedes aesthetic value for HNFTs.

Hi everybody.

I took a half year break from the forum, got a lot done, and now I'm back to spread the word about the Historical NFT movement. Of course everybody knows about NFTs by now, but what you might not know is that a lot of aged tokens now possess collector value.

Its true that a lot new NFT projects (2020-present) are gonna go the way of ICOs and DeFi, and will never recover their previous price highs. However, just like the good cryptos that were down a lot in 2014-15 and 2018-19, the "good NFTs" will come roaring back when the market picks back up again.


So what's a "good NFT"? Most NFTs (art-based NFTs) are only valuable for their collectability. They possess characteristics that are sought out by collectors (these among others):

 - novelty of creation
 - aesthetic of artwork
 - strength of brand / community
 - accessibility

Even though we have been hit by a bear market this year, sentiment is down and interest has been slowed, this could make for a great opportunity to purchase NFTs that will be coveted for years in the future at bargain prices.

The thesis for Historical NFT investing goes like this:

There will be an infinite amount of new NFTs manufactured in the future. We already saw a damn near infinite amount minted in the last couple years. So, the ones that are older and scarce - before NFTs really exploded in ~2020 - are going to be the most valuable as they were among the most unique at their time of creation.


"Historical NFTs" go all the way back to 2011 (now that Namecoin IDs are considered "NFTs) and all the way up to 2018; arguably 2019. The most popular blockchains they are found on include:

 - Ethereum (Cryptopunks, Realms of Ether, CryptoKitties)
 - Bitcoin (Rare Pepes, Spells of Genesis, Sarutobi, NILICoins)
 - Namecoin (Punycodes, Twitter Eggs, early .bit domains)
 - Dogecoin (JollyRoger, Bitbeg, Dogecar, Goldenshibe)

Other blockchains with collectible assets (though more esoteric) include Emercoin, NXT, NEM, and WAX. I currently hold NFTs and other assets on 7 of these (all except Emercoin). There are also "colored coins" on the Bitcoin blockchain but those remain elusive for now as their supporting systems have long been dismantled.

Another of my favorite "NFT Historians" is w3b.eth, who recently put together an amazingly informative Historical NFT Price Catalog that is a great resource for anybody who is looking to get started collecting historicals.

So, what Historical NFTs do you own? Which ones am I missing that you think have a lot of future potential?


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