A 72% Yield on a Solid and Proven Gaming NFT
NOTE: This story first appeared in my Ministry of Alpha NFT newsletter on Substack. I have reprinted it here with minor modifications.
This is the second in an occasional series of dispatches on what I see as undervalued NFT projects that exist here at what I would argue is the bottom of the bear cycle.
These are projects that have survived Solana winter, that have continued to build and grow both their business and their user base, and which are putting in place expansion plans as 2023 begins to unfold.
And most important: They are cheap relative to their own history, relative to their prospects, and, in this case, relative to the income the project generates.
Today’s value NFT…
Oak Paradise — a collection of 5,555 NFTs tied to a successful, online gambling site offering a sports book, a poker room, and a vast assortment of casino games.
Oak’s history began inauspiciously as a pre-mint rug back in the spring of 2022. Ultimately, the current team leader, a former investment bank known on Discord as Polyphemus, took control of the project last August and turned it into the successful, Switzerland-based gaming project that it is today — a project with more than 30,000 registered players who have wagered more than $11.2 million cumulatively on…
