NFT — A method to the madness

3 min readSep 3, 2021

Like many (many!) others, we recently got pulled into the cryptocurrency aka ‘crypto’, NFT, and other digital asset frenzy. We find it both fascinating, and mad!

In particular, since early 2021, we’ve been buying NFT’s from various projects. We didn’t know what to buy, or why we were buying it. We got sucked into the frenzy, and were just excited to take part in this ‘new’ technology.

There are many steps in the process of buying an NFT that are frustrating (Anyone mentioned gas fees!??). In particular, we disliked the fact there was no ‘logic’ or ‘method’ behind what NFT’s we were buying. We also observed that on quite a few NFT themed Discord channels people were asking questions like “Which NFT are you looking at next?”.

Putting it simply, we were trying to answer 2 questions;

Which NFT Project?
Which NFT Asset?

We wanted to build on a tool (or suite of tools) to assist with answering both these questions.

Upcoming NFT projects

We decided to keep things simple and start with a scoring system to rate upcoming NFT projects, i.e. NFT projects that have yet to be launched.

The basis of our score would be a combination of a supply score, and a demand score.

We wanted the supply score to be linked to the supply of NFT’s.

For the demand score we assumed the main drivers were the project’s web presence, and social media channels engagement. We did observe that most project’s are launched so quickly, that there is little to no web presence prior to launch (i.e. articles in the media etc…). We also have some ‘x factors’ in the demand score, which we observe make a significant difference to a successful launch. These factors will be tested under the hood.

cryptoscores v1

To test our first version of our scoring, we looked at the next projects launching within the next 24 hours (we included Al Cabones as a reference), and compiled their scores.

You can see that a projects that stand out are the likes of Al Cabones (recently launched), Immortalz, and Rogue Society. Now we don’t know for sure if these projects will be successful in the short/medium/long term. However, we think that we’d give ourselves a better chance of success getting involved in those projects.

We also have an interest in seeing whether our score has a correlation to floor prices post launch. We have done some early work on this, and have shared it below;