This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

Nois7 - Siblings Skip to main content

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

Nois7

July 3, 2021 – Nifty Gateway Drops

https://niftygateway.com/collections/nois7wokedrawings

https://niftygateway.com/collections/nois7wokeauctions

https://niftygateway.com/collections/nois7blackhole

 

Nois7 (Robert Jahns)

(Disclaimer: CupcakeandHoneyB currently own all 7/7 open edition NFTs from genesis drop and one of the x/3 limited edition works)

  • Drop consists of four different parts:
      • Seven x/20 drawings at $777 
        • The “Cat in Tokyo” drawing is limited to only holders of the genesis open edition or limited edition of “Cat and the Moon”  
      • Seven x/3 ranked auctions 
        • Each of these came with a signed print and physical token 
      • Two 1/1 auctions
        • Each of these will come with a signed print and physical token
      • Part 4 – “Black Hole” – 77 editions at $7 each
        • First Come, First Serve
        • Available for up to 10 days
        • Collectors will need to obtain any of the following in order to qualify to purchase:
          • Collect all 7 genesis open editions
          • Collect any limited edition (x/3) or special edition (1/1) from genesis drop
          • Collect all 7 open editions from this drop (Woke Up in a Dream)
          • Collect any limited edition (x/3) or special edition (1/1) from this drop (Woke Up in a Dream)
        • Collectors can get multiple Black Holes depending on how many times they meet any of the above criteria (e.g., someone holding 7/7 genesis open editions, one genesis LE and one new LE would be able to get 3 Black Holes)
        • This NFT is a key to mysteries and per Nois7 will allows collectors ability to have access to special NFTs in the future
        • From an analysis standpoint, we see this piece moving in the direction to be a “special/iconic” work of Nois7 similar to that of Dot Pigeon’s ‘Empowered’ Alexa or 3lau’s “Glass”
        • Minting is limited to 77; however, the maximum potential qualifiers is 97. This is based on genesis  open editions (30 max), genesis LEs (21), genesis SEs (3), new drop drawing editions (20), new drop LEs (21), new drop SEs (2).  
  • Notes from the genesis drop on 3/29/21 “Dreaming with Eyes Open”
    • Seven open editions priced at $777
      • “The Cat and the Moon” and “Talking to a Bird” were the most popular works with 140 and 61 editions minted, respectively
      • The remaining five open editions had between 30-39 editions minted
    • Seven x/3 limited edition works (silent auctions)
      • The lowest price (i.e., editions 3/3) of two of these was in the $3000s, four were in the $5-6000s and one was in the $8000s
      • 888 is the owner of all of the #1/3 editions 
      • Each of these came with a signed print and physical token
    • Three 1/1 auctions
      • 888 also won all three auctions paying between $19-24k each
      • Each of these came with a signed print and physical token

 

  • Secondary Market Activity
  • Open Editions – 
        • “The Cat and the Moon” has historically traded the lowest which is not surprising given supply of 2-4x of the other editions
        • The last sale price of most are right around original $777 level which is still promising given this drop occurred when drops were still hyped and oversupply was a general concern for drops on Nifty Gateway
        • The floor of four of the NFTs are between $776-888 and the other three range from $1,088 up to $2,250 floor
        • The best value based on market cap at the moment is Solar Eclipse and Blood Moon Mystery with asking prices still at original drop levels but just 34 editions of each
  • Limited Editions – 
        • 7 of the 21 editions are owned by 888 and withdrawn to his vault so not in circulating supply on Nifty Gateway. We do see this as a positive for future price potential as essentially now only 2 editions of each remain potentially available for someone to collect. 
        • There have been four secondary sales so far with one for $8k and the other three at $15k (2 in April and 1 in June 2021) 
  • 1/1 – 
        • All three are owned by 888 and withdrawn from Nifty Gateway to his vault so no secondary activity
  • Collector engagement and rewards/incentives
      • Nois7 has had a discord channel for multiple months and actively engages with collectors and admirers of his work via his discord
  • Collector rewards/incentives
      • Nois7 is vocal and actively shows his support for collectors. In April, after his genesis drop, he announced a roughly 3 week window for anyone to collect all 7 of his open edition works for a special reward. The reward was not announced immediately whether it would be physical or digital. It ended up being a beautiful 11” x 31” acrylic glass plaque of all 7 works along with a signed seal. Given that there were just 30 editions of Sleepwalker minted the maximum number of people that could collect all 7/7 was 30, but in reality there were just 10 sets of 7/7 collected (see below for visual of the plaque and also the print and physical tokens that accompany limited edition works)
      • When prices of some of his works dipped in late May / early June he also bought some of his own works to use for future giveaways including one that just ended on June 30 for an edition of Talking to a Bird
      • He follows recent drop activity and drop dynamics to help establish the foundation for drop dynamics of his upcoming drops to ensure it aligns with the overall market. Initially this second drop consisted of x/30 drawings but he has moved down to x/20 to better align with current market.
  • Social media
      • Nois7 has a gigantic social media presence on Instagram with 1.4MM followers. We have only seen two other digital artists with more social media followers and that is Beeple and BossLogic with just over 2MM each.
      • Nois7 has been doing digital art for many years but audience has primarily purchased/focused on physical editions/prints of his work. With the massive IG following we take this as a bullish sign from a long-term holder/collector standpoint as more and more people migrate to the NFT space. 
  • Other notable remarks
    • “Reaching to the Moon” from the Genesis drop is now featured in two of Dot Pigeon’s most recent collection, Fly Me to the Moon. One of them is the “Empowered Alexa” piece which is formally called “Hey Alexa give these people what they deserve” and is an iconic work for Dot Pigeon and was created by burning 4x of the original Hey Alexa open edition

 

  • Drop Estimates
    • Some of the x/20 drawings are estimated to have short term resell value around $1,000-1,500+ as collectors work to get all 7 to qualify for the Black Hole
    • As with the first drop we expect there to be a couple that are more popular than others and more likely to resell in the $1,000-1,500+ range such as “Cat in Tokyo”, “San Francisco Dreaming”, “Fishing for the Moon” and “Mystic Deer”
    • Similar to other drops we will monitor the number of entries as best gauge for demand in the works. However, keep in mind that the genesis open editions had most versions minting around 30-39 with exception of one minting 61 and one minting 140. As such, we do not necessarily expect to see 200+ entries on any of these draws
    • It is also worth noting the secondary market for Nois is relatively light which could also be in part to the lower number of available mints. But we would not expect to see 10+ people that did not win a drawing try to buy it right away on the secondary. We will see some but not likely to be up to 10 on any given edition. 
    • Although there may be some short term profit potential on certain pieces, our view for Nois7 is more bullish as long-term collectors of his works as he continues to engage with the community and his existing audience also moves in the NFT space. Personal view is that $777 for any x/20 by Nois7 is a great hold and add to a collection

 

Picture: The top item is the 11” x 31” plaque award for collectors of all 7/7 genesis open editions (rewarded by Nois7 in April 2021) and the bottom row is the box, signed print and physical token for a genesis limited edition work