Traversing the world of non-fungibles is a daunting task. With so many new NFT projects, artists, and large-scale collections cropping up weekly, it has become nearly impossible to keep up with every successive development.
Previously, a simple browse through OpenSea was enough to find the latest NFT craze. But things have changed drastically since the 2021 NFT boom. Now, NFT enthusiasts have to be really mindful of what and where they collect.
To aid in the unearthing of awe-inspiring NFT endeavors, both new and old, nft now presents Undervalued: a weekly column highlighting innovative projects, collections, and artists pushing the NFT space forward.
Ledger Market Pass
Ledger Market Pass, launched in July 2022, is the genesis collection from popular crypto/blockchain security and infrastructure solutions company Ledger. Featuring 10,000 NFTs, each token within the collection acts as an access pass to Ledger’s forthcoming NFT market/platform, which is marketed as “the most secure platform for artists and brands to release their NFTs.”
Although we’ve witnessed countless membership-based access pass collections in the past, Ledger’s latest endeavor seems to be a unique entrant into not only the collectibles market, but the ever-pertinent NFT marketplace race. Beyond the fact that purchasing a Market Pass NFT is akin to a bet on the future of the prominent company, collectors are also granted access to exclusive collaborations, future Ledger hardware, software, services, and more.
Several new marketplaces have cropped up in recent years, with some launching NFT collections and others offering trading rewards in their own native currency. Yet few (if any) have had the backing of such a majorly popular and respected NFT/crypto security company — ensuring that Ledger Market Pass will likely be a collection to keep an eye on in the foreseeable future.
Potatoz, launched in July 2022, is a free-to-mint collection of 9,999 “utility-enabled” PFP NFTs. The collection is an extension of Memeland, a metaverse project created by Hong Kong-based online platform/social media website 9GAG.
Similar to other membership-based collections, Potatoz offers holders entry into the greater Memeland ecosystem, which encompasses an exclusive community and a metaverse project centered around pirate lore. Although Potatoz NFTs currently feature animated pixel-art “potato sprouts”, tokens will evolve into unique potato-inspired characters over time.
EmpresSisters, launched in February 2022, is a collection of 150 hand-crafted PFP NFTs created by independent multidisciplinary artist Or Yogev. The project is greatly inspired by Yogev’s Ethiopian roots, in addition to African culture, jewelry, and beauty.
Considering the lack of diversity in the NFT space, projects like EmpresSisters help proliferate cultural awareness and celebration on the blockchain. As a small-batch project created by a small artist, EmpresSisters showcases how creatives can build upon their personal stories and history to curate a unique NFT catalog.
CryptoPhunks, launched in June 2021, is a CryptoPunk derivative project that showcases horizontally mirrored versions of the iconic Punk imagery. Created as an alternative to Punks, which at the time were continuing to skyrocket in value, the collection has been a rollercoaster of a ride for all who were involved/invested in it.
Originally, Phunks were introduced as somewhat of a meme. Although denounced the project as a cheap ripoff of CruptoPunks, the collective humor of the NFT space ensured they were soon accepted into the NFT market. Yet, very shortly after rising to prominence, OpenSea delisted them due to a DMCA complaint made by Larva Labs, the creators of the original CryptoPunks.
In the following months, the DMCA takedown of Phunks boosted their popularity, leading to a new and lasting version of the project, but also called into question the viability of centralized platforms like OpenSea in a space that greatly values the concept of decentralization. The Phunks situation is also attributed as a major factor in the landmark sale of CryptoPunk #4156.
Worldwide Webb Land
Worldwide Webb, launched in November 2021, is a collection of virtual land plots for an interoperable pixel art MMORPG metaverse game of the same name. Each NFT in the collection features a patch of land upon which users can build their own unique metaverse spaces.
Although Worldwide Webb Land is simply a project associated with the overarching game, the tokens within the collection act as an access pass to a wider world that offers interactive utility to many popular NFT projects. As the game uses NFTs for in-game avatars, pets, virtual real estate, items, and quests, it provides an interesting use case for interoperability in the NFT space.