Did you miss out on the Otherdeed land sale on April 30th due to the high gas fee? Or failed to KYC on time? Thanks to the falling prices of NFTs (and cryptos), it is possible to buy Otherdeed lands near to mint price now.
What is the Otherdeed land NFT?
To begin with, Otherdeed is the key to claiming a land NFT in Otherside, which is an MMORPG by Yuga Labs. In essence, each plot has its own unique environment and sediment. While some of the plots might contain resources and powerful artifacts, only a few rare ones come with cute, alien avatars called Kodas.
At the time of writing, Otherdeed lands are trading at a floor price of 2.83 ETH on OpenSea. That’s about $6,800 in value. Based on our previous report, the mint price for each plot of Otherdeed was $6,621 in value. Coupled with ETH and $APE prices crashing down lately, it’s time for prospective buyers to do some bargain hunting.
So, should you sweep the “floor”? Or go for the premium ones?
It depends. Certain cash-rich collectors might prefer to sweep Otherdeed land NFTs trading near to floor price now. But to those who are looking to buy undervalued plots instead, it’s better to engage with data analytics service providers such as MetaMetrics for help.
According to MetaMetrics, there are price arbitrage opportunities that investors can take advantage of right now. For instance, as of yesterday, Tier 1 lands of Chemical Goo are actually trading at lower prices than Tier 3 lands with the same type of sediment.
Apart from the information above, the platform also provides a detailed analysis of Koda traits to look for. If you’re interested, just shoot them a DM on Twitter. Until then, happy hunting!
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This article is educational material.
As always, make your own research prior to making any kind of investment.