Chapter 1: Current State of Solana NFTs

Two months ago, I shared insights on the status of Solana NFTs, highlighting that capital tends to shift between trending projects rather than consistently supporting teams that are dedicated to building. This trend can be attributed, in part, to the absence of gas fees, but as the number of new projects grows, those with established success are gradually distinguishing themselves.

I concluded that piece with my enthusiasm for Solana's potential, noting my interest in accumulating more of the Famous Fox Federation and Solgods, both of which embody community and project development throughout this cycle. In retrospect, I see now that I should have invested more in these assets.

Famous Fox Federation

Price Movement: 7.95 SOL to 20 SOL

Solgods

Price Movement: 3.95 SOL to 19 SOL

In February, the overall sentiment towards cryptocurrency was bleak, yet it was remarkable to see the floor prices of these two projects continue to ascend during that time, which I found to be a strong bullish indicator. Both projects share certain characteristics that I believe are essential for success:

1. Team members with near-mythical reputations
2. Enthusiastic (sometimes cult-like) communities
3. Ongoing development and regular updates

The first point is evident across the broader crypto landscape, where individuals can amass significant capital from the public. Think of figures like Vitalik with Ethereum, Sam with Alameda/FTX, and Elon with Doge/Tesla.

Reflecting back on Solana NFTs, I overlooked the surge of Degods (with a 100 SOL floor) and Taiyo Robotics (170 SOL floor), both of which exemplify all three of these traits. Each has individuals within their communities who are venerated, driving substantial price movements.

Degods and Frank

Taiyo and Solport Tom

What lies ahead? The previously mentioned projects have now surpassed my price range for accumulation. I believe that the more favorable risk/reward dynamics are found in smaller projects striving to capture lightning in a bottle while incorporating those three key traits.

One project I've encountered that seems promising is Cat Cartel (approximately a 4 SOL floor). They appear to have potential, but there is a sense that their rapid development on various features—such as staking, along with derivatives—may lead to instability, akin to a house of cards. Their swift expansion could dilute the project before they secure long-term holders. Additionally, their artwork bears a striking resemblance to a well-known Ethereum project, Gutter Cat Gang, which might limit their appeal due to the thematic associations with cartel and drug culture.

Profile picture projects are becoming somewhat monotonous for me, as they tend to converge on similar roadmaps. For now, I plan to delve deeper into gamefi, inspired by Defi Kingdoms. The projects that have piqued my interest on Solana include Catchking Explorers and Guild Saga Heroes.

Chapter 2: Market Trends and Future Opportunities

The first video discusses the significant price reductions being implemented by homebuilders across Florida, indicating a potential shift in the housing market.

The second video focuses on the alarming state of homebuilders in Florida, providing a critical update on the housing market and its implications.