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 bottomed out and could soon see a big rebound.
Sure, in the midst of such a reversal, big collections like CryptoPunks, Pudgy Penguins, and Miladys would likely do well, but what about lesser-known gems that might also be seriously undervalued today?
When I look around the ecosystem, a handful of small projects currently seem to me to be the main contenders for a second wind thanks to their status as remarkable digital artifacts.
Let’s highlight these projects and talk about their importance!
1) 0xmons
Creator: 0xmons
Current floor: 0.42 ETH
Named after its creator and first released in December 2020, 0xmons are digital collectibles of pixel monsters whose animations were created via 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) CryptToadz
Creator: Gremplin
Current floor: 0.25 ETH
Among crypto’s most talented and iconic “one of us” artists 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 be trading at a price higher than 0.25 ETH. And, say, in 5 years, I believe they will be trading at a price higher than they are today, as more and more people will have caught up with their story.
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 512 pieces in the collection dynamically evolves 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 around 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 discover Harm’s work.
5) Terraforms
Creators: Mathematical castles
Current floor: 0.54 ETH
If you read my recent Terraforms GuideIt’s no surprise that I consider this project one of the most undervalued in Ethereum’s NFT space. Launched in December 2021, Terraforms is a 20-level virtual “Hypercastle” whose plots evolve over time via its smart contract code.
A pioneer in the field of execution art, Terraforms stands out for its fully on-chain nature, continuous dynamic generation, and high composability. I consider anything under 1 ETH for this collection to be a real bargain, as I believe these pieces will stand the test of time due to their artistic significance.