TL;DR- Lazy Lions NFTs have all the markings of a solid NFT collection. This includes a strong community, a fun roadmap, and good distribution economics. In a space as incredibly bloated as NFTs, Lazy Lions stands out.
We’ll go over the criteria that makes an NFT collection legit,and how Lazy Lions fits that bill.
One more time, what are NFTs?
NFTs are more or less digital art. Art (as an asset class) has outperformed nearly everything else over the past 30 years. If cryptocurrencies were stocks, then NFTs would be collections of canvassed art sitting in museums and vaults. NFTs hold similar properties to physical art:
- They are one of a limited number
- They belong to an owner
- They hold, lose, or increase their value
- They provide daily utility (people argue this one)
If you’re one of the people who doesn’t ‘get’ the NFT space- you don’t have to. Just know that humans have an innate ability to attach value to things that don’t necessarily have everyday utility. For instance- what is gold good for? Nothing, really. According to Warren Buffett it does “nothing but sit there and look at you.” It’s a decent semiconductor, I guess.
What are Lazy Lions NFTs?
Are you tired of CryptoPunks and apes of every variety? Do you want to be part of an NFT community that is inclusive and not exclusive?
The founders of Lazy Lions are aiming to build the biggest NFT community in the world. Lazy Lions are a collection of 10,000 algorithmically generated NFTs on the Ethereum blockchain. The lions have a plethora of fun rare and common traits such as lederhosen, halos, party hats, lazy hats, steak mouths, space suits, and more.
The original NFT minting sold out in a matter of hours- the collection went for 1.5 million USD, or an average of $150 per item. The price floor is now hovering around $5,000, so those who were early to the party were quite lucky.
The collection has excellent distribution economics with nearly 5k owners of the NFTs. This means on average every owner owns two NFTs each. As investors, we want this # held/owner to be a small as possible. The reason why is because if there is a panic sell, it’s going to be a lot worse if whales that hold huge amounts of these NFTs decide to get out and sell. The price will drop quickly. Luckily, Lazy Lions NFTs distribution pattern is pretty even.
The Lazy Lions community (i.e. its Twitter and Discord) is extremely strong and very active. This is another thing that will put wind in the sails of an NFT collection- the community. If there’s a good community behind a collection, it’s more likely to survive bear markets in the crypto/NFT space. Note that art as an asset class has performed extremely well over the last 30 years- and NFTs are art, but better.
Plus if you hold one, you can consider yourself a “king”!
Lazy Lions have some solid celebrity endorsement as well, including:
- Dez Bryant
- Steph Curry
- Josh Hart
- Ja Rule
- Jake Paul
The collection has a really nice distribution of cool traits. To know how rare certain traits are, check out how to use rarity.tools or use the properties tab on OpenSea (pictured below) to identify what % of NFTs in the collection have those certain traits.
Roadmap & rewards
An NFT collection needs to keep an exciting, up to date roadmap in order for people to continue to be interested in the collection. Lazy Lions has a wonderful rewards program and some cool stuff on the roadmap.
A play-to-earn Lazy Lions game will be released in the future for holders of the NFTs. There isn’t much to be said about this- the website gives literally no information. However, other NFT collections have been gaming-related- like Along With the Gods on Roblox, Street Fighter, and Neo Tokyo NFTs (my favorite so far). If there’s a fun use case here with a game, this could make the collection more valuable.
For the original holders of the Lazy Lions, bungalows were provided as part of the ROARwards program. A lazy ass lion who needs to sleep 20 hours a day needs somewhere to do it, right? The bungalows are now selling at a 0.02 ETH floor (about $100) which isn’t much- for now. If you’re an owner of one of these bungalows, you can edit your bungalow to contain any NFT you own- it doesn’t have to be a Lazy Lion. I might throw some BubbleGum Kids into my bungalow.
This is similar to the airdrops that happened with the Bored Ape Yacht Club, where owners were rewarded with Mutant Apes, which are selling for astonomical sums on their own. This is why roadmap is important with NFTs. If you’re a Lazy Lion hodler and there are future NFT airdrops, this could prove extremely valuable.
This is one of the project’s biggest catalysts. This is a rewards program exclusively for LL holders. You can earn ETH every month for engaging with the project- simply by using the discord, setting your profile picture on Twitter, or simply just being part of the community. From the project’s point of view, the ROARwards are a marketing-based expense. A lot of other NFT projects pay famous people to change their profile pictures to the NFTs, but the Lazy Lions project has decided not to do this and put its profits back into the community instead.
The same way I expect my proof-of-stake crypto to earn staking rewards, I would expect an investment in an NFT to pay off as well.
I keep running into this problem where I want to buy an NFT from every collection I write about, but I super want to get into the Lazy Lions NFT community. As you’ve probably seen more than once, cryptocurrency can perform lousy for weeks and months at a time- a little diversification into the art space wouldn’t hurt. Not financial advice, of course!
Keep in mind that there are ways to invest in the NFT space without actually buying an NFT, much like there are art funds. The NFT space is so young that it’s hard to say whether these things will hold their value. Many are likening to the crypto and NFT boom to the Dotcom boom of the late 1990s- which of course ended in total collapse. But they could be wrong. Even so, Amazon, Google, Apple, and others were still stocks during that time. There are diamonds in this landscape- it’s hard to know which are, though. Lazy Lions NFTs just might be one of those.