NFTs had a event horizon when beeple sold his First 5000 Days for $70m USD via a legitimate art auction house.
There are 63 million BitCoin wallets and tens of millions of individuals and institutions that own Bitcoin. Most have an acute awareness of the early movers advantage that most missed out on in the early days of BTC
So all these millions of bitcoiners are hearing about NFTs as the next opportunity to get into and up until last week had a choice between: - crypto punk - beeple - newer random lesser know projects.
Most of these random projects have no real narrative. The reason the crypto punks are valued at such a premium are that they are seen as the originals with the most chance of holding value.
Enter MoonCats.
Only two months older than cryptopunks. Launched in 2017. Only 26,000 will ever exist. An incredible narrative of being lost in time and rediscovered that makes it likely it will get equal coverage to other original NFTs.
Trading at 1 ETH which is less than NFT projects which were launched this year like cyberkongz and hash masks.
When the BTC money looks to allocate funds to NFTs where will they go? To the project valued at 1/30th cryptopunks and pretty much holding the same narrative and far more upside.
The media coverage will start soon and then I think we will see a base of 4 ETH which would represent a $200m market cap, about half that of crypto punks. It will rise with the whole NFT market from there.
$1 Trillion in Bitcoin. MoonCats has a market cap of $52 million and is the second oldest NFT project.
The money will flow when the media hits.
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