Did you miss the Otherdeed land sale on April 30th because of the high gas fee? Or failed to execute KYC on time? Thanks to the falling prices of NFTs (and cryptos), it is now possible to buy Otherdeed land close to the mint price.
What is the Otherdeed Land NFT?
First of all, Otherdeed is the key to conquering a land NFT in Otherside, a MMORPG by Yuga Labs. In essence, each plot has its own unique environment and sediments. While some of the plots may 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 on OpenSea at a floor price of 2.83 ETH. That’s a value of about $6,800. Based on our previous report, the coin price for each parcel of Otherdeed was worth $6,621. Coupled with the recent slump in ETH and $APE prices, it is time for potential buyers to go bargain hunting.
So should you sweep the “floor”? Or do you opt for the premium models?
It depends. Certain high-money collectors may prefer to sweep Otherdeed-Land NFTs, which are now trading near the floor price. But for those who want to buy undervalued properties instead, it is better to deal with data analysis service providers such as MetaMetrics for help.
According to MetaMetrics, there are price arbitrage opportunities investors can take advantage of now. For example, as of yesterday, Tier 1 Otherdeed lands containing Chemical Goo are actually trading at lower prices than Tier 3 lands containing the same type of sediment.
Aside from the above information, the platform also offers a detailed analysis of Koda features to look for. If you’re interested, just shoot them a DM on Twitter. Until then, happy hunting!