Genkai is a next-gen NFT collection from CyberKongz, the main collection of this brand, which is known as one of the most renowned collections on the ETH chain.
Genkai by CyberKongz
Expired
Progress mission: 0 of 1
Expired
Rewards
Reward Results
$280 $320
Details
Minimal cost
~$470
Time required
5 min.
Category
Raffle
Rating
6/10
Risk
High
Deadline
2023-07-27
On the day of the launch the floor price on OpenSea was 0.2 ETH, which is equivalent to $370.
The Genkai collection took a couple days to sell out completely.
The mint price was 0.25 ETH, which equates to approximately $460 given the current ETH market price of $1830. After the launch, the Genkai price fell down below mint price to 0.2 ETH ($370), with the average sale price now still hovering around the same level.
It has to be kept in mind that users who minted the Genkai NFT, have been airdropped a second Genkai NFT which has been locked for 180 days. Therefore calculating the results should include both NFT’s.
Assuming that the Genkai NFT will hover around mint price, selling two pieces around the 0.2 ETH level would result in a 0.15 ETH gain ($280).
Pros & Cons
Why is it worth it?
Well-known brand - Genkai is a next-gen collection by CyberKongz, which has cemented itself as one the biggest and most known NFT projects, gaining a blue-chip status
Easy form of participation - to participate in this opportunity, users need to apply for a whitelist on the Genkai site, which is easy and not time consuming. Users are also able to participate in the public sale which is available to all
Risks to consider
High supply and mint price - the Genkai project has a high supply (20,000) and a high mint price (0.25 ETH), this may mean that the project will have trouble minting out and getting a higher floor price on secondary markets
How to participate?
What should be taken in consideration is the high mint price of the Genkai collection (0.25 ETH). Coupled with the fact that the supply for this project is also very high (20,000) it might negatively impact the minting process as well as the floor price on the secondary markets.
It would be advisable to observe how the minting process goes and check out the floor price on secondary markets as there will be minting phases before the public one.