WELCOME TO BROCCOLI DAO'S WRAP UP OF TIERED PROJECTS ACROSS THE SOLANA ECOSYSTEM
With the price depreciation of solana in the last couple months as well as the maturing of our space, gone are the days where there are multiple projects under 1-2 SOL which we can confidently bet on. Hence, we’ve lifted up the lower entry price level to under 5 SOL where there are a lot more projects worth betting on in this region.
5 to 20 is the next tier for multiple reasons. If a project has taken considerable time to break through 5, the next big wall up is 10 SOL. However, should a project start above 5 SOL and push through relatively easy, then it’s an easier ride to double digits and the next target level barring some profit taking pullbacks is realistically 20 SOL.
20 to 50 is the next tier. If your project successfully holds 20 SOL after the dust settles and continues to build, it should be on track or have 50 in its sight. At times, the pace of the run can be telling. The quicker the rise, the quicker the fall as well as a higher variability in price swing. If a project runs at a head scratching pace, then you can identify it as a swing-tradeable project. You’re right, the rise from 20 to 50 can take months of building and hype accumulation, but with the right team behind it and a strong community it will happen. FFF is the best example of that. A slow, but very sure traction towards 50.
50+ and you’re in that established project conversation and pushing on top tier. Obviously the higher the price as well as time spent in the upper region (100/150+ SOL) the more legitimised the project becomes. Not all projects 50+ are equal and it’s important to look at the factors that separate the top layers of the cake, because at the end of the day there are levels to this shit.
And so it begins:
<5 SOL: LOWER ENTRY PRICE PROJECTS
Projects in this region are either going to hit 10 and continue tracking upwards with a strong build, or alternatively hype will slowly die off and likely trend towards 0. Therefore, it’s critical you’re betting on a team that has credibility and offering tangibles that you believe in. Whether that’s the art, the utility, the community, long term vision or capability of the team, there has to be a crux you can rely on that ultimately pushes you to buy with conviction.
If you’ve been following me for some time you’ll know this is a personal favourite of mine in this price range. It was the first call I made in our broccoli dao and I still stand by it without any hesitation. Since Solport Tom and his team have taken over this project has pushed up from 0.15 SOL to heights of 5.50 SOL and currently resting in the 3.50 region. The vision Tom and his team plan on executing is creating an e-commerce metaverse where all projects will have the opportunity to market and sell on-chain and off-chain products and services to their communities. Owning a solsteads citizen is not only a cheaper entry into accessing their team and building proficiency, but also enables you the ability to earn their $Surreal token. Speaking of partnerships, Catalina Whales has already been announced as a top tier project that will own land and a marketplace offering through Solsteads Metaverse. At 3.50 entry, this is project under 5 SOL which won’t head towards 0, but has a decent chance of pushing upwards.
Cardboard Citizens finishes the week 3rd for volume this week with 67K since launch. Total supply for the project is 6767, however total % listed comes in at 35.47% which is a little high for my liking. The 7 day floor range is currently between 2.1 and 8. Entry price that would be worth looking at would be between the 3-3.5 region, but I’d be keeping a real close eye on both volume and total % listed as a gauge. After diving a little deeper, I’m unsure exactly what they’re attempting to build. It seems too early to make a call on which direction this heads in. Roadmap makes references to requiring community contribution, but there’s not much clarity around what it exactly entails at this stage.
The Magic Ticket
This NFT gives you access to the MagicDAO which includes access to most whitelists despite needing to compete with thousands of other entries. At the same time, I can see the value proposition of holding a ticket rising over time. It’s a simple bet on the best marketplace our space has to offer. I’m bullish on this ticket long term with the potential the team can attach to it. MagicEden will be at the core of our space for a long time coming and having access to the perks they can offer is a safe bet. Long term play on this nft offering. Price appreciation over the last 6 weeks has been very positive moving up from 0.20 to holding 1 SOL now. Listings chart also heading in the right direction as well.
Frakt has recently launched its loan program which includes a variety of benefits to holders.
These include fee discounts, 100% share of royalty and protocol fees. There is an element of defi-related proposed benefit attached which does scare me a little as APR and defi in general has taken a significant hit across all iterations (see: Olympus DAO + even Chest Finance/Defi Pirates). However, FRAKT has been in our solana ecosystem for a long time and we’ve seen the success of loans already with Yawww. The success of the project will come down to how much market share it can take from the loan projects already out there and established. At current prices, I would say one of the undervalued projects at the moment.
One of the movers of the week if not the best mover in this price range (shoutout @adhamz – alpha caller in broccoli dao). Project is aiming to better connecting like minded individuals in the nft space through their platform that is to be built out. The team aims to identify job openings and also assist in offering a central job board tied to resumes as well as the ability for employees and employers to leave reviews on profiles. Definitely a gap in the market for this type of utility as currently all this networking is done through discord and private DMs. If SOLFUL can execute their vision on a trusted and safe platform then I do believe this will be a strong play long term. 6.5K rolling volume the last 7 days with under 15% listed at the moment. 7 day floor range is 0.75 to 4.5 SOL.
Late inclusion into projects under 5 SOL here, but the price action the last month has been undeniable. With whitelist meta still being the most profitable strategy in this prioce range, it’s been long known for a while now that this team secures some of the best WL. Floor price is almost at an all time high and listings at an all time low. There is certainly an element of degeneracy to this project, however it’s the good degeneracy that you’re looking for. Their community is strong and has notable influencers involved. A decent low risk play for me.