Bankless: 5 Underrated Ethereum NFTs

Author: William M. Peaster, Bankless; Translator: Deng Tong, Golden Finance

With Blur no longer what it once was, the recently bearish Ethereum NFT scene may have bottomed out and could soon see a sharp rebound.

Of course, in a reversal like this, major collectibles like CryptoPunks, Pudgy Penguins, and Miladys may sell well, but what about those lesser-known gems that may also be severely mispriced today?

As I look around the ecosystem, some smaller projects currently stand out to me as prime contenders for a resurgence because they are notable digital products.

Let's highlight these projects and talk about why they matter!

1) 0xmons

Creator: 0xmons

Current floor price: 0.42 ETH

Named after its creator and first released in December 2020, 0xmons is a pixel monster digital collectible whose animations are made using generative adversarial network (GAN) technology.

By using machine learning in this way, 0xmons is one of the early AI art projects launched in the cryptocurrency scene, so I suspect it will continue to develop as an AI collectible.

2) Avastars

Creator: nft42

Current Floor Price: 0.013 ETH

In the NFT history books, Avastars is famous for being the first profile picture (PFP) project, pioneering a system that stores all of its characteristics entirely on the Ethereum chain.

Since Avastars launched in February 2020, the technology has inspired dozens of other on-chain series, so this significant impact coupled with the current really approachable floor price makes me think now is a good time to buy some of these PFPs.

3) CrypToadz

Creator: Gremplin

Current Floor Price: 0.25 ETH

Gremplin is one of the most talented and iconic “one of us” artists in the crypto space, and his September 2021 10k PFP series CrypToadz is an iconic anthem that perfectly sums up the vibe of the previous NFT bull run.

I choose to live in a world where artists like Gremplin get the respect they deserve, so I just choose to believe that CrypToadz should be trading above 0.25 ETH. And, let's say 5 years from now, I think they will be trading at higher volumes than they are now because more and more people will be aware of his knowledge.

4) Mutant Garden Seeder

Creator: Harm van den Dorpel

Current Floor Price: 1.07 ETH

In my opinion, one of the most outstanding art series in NFT in 2021 is "Mutant Garden Seeder" by artist Harm van den Dorpel. In short, each of the 512 pieces in the collection dynamically evolves as Ethereum block hashes pass, making it a truly compelling exploration of living art and digital creatures.

Having said all that, I think the price of 1 ETH is too low for a collection of this caliber, and I wouldn’t be surprised to see these pieces trading for 4 ETH again in a few years as new collectors become aware of Harm’s work.

5) Terraforms

Created by: Mathcastles

Current Floor Price: 0.54 ETH

If you read my recent Terraforms guide, it’s no surprise that I think this project is one of the most underrated in the Ethereum NFT space. Launched in December 2021, Terraforms is a 20-level virtual “Hypercastle” whose plots evolve over time through its smart contract code.

As a pioneer in runtime art, Terraforms stands out for being fully on-chain, continuously dynamically generated, and highly composable. I think anything below the 1 ETH reserve price for this collection is a complete steal, as I think these pieces will stand the test of time due to their artistic significance.