The Next Million Dollar NFT Is…

Jeff Opdyke (Jeffo)
9 min readJan 31, 2022

Let me just get this shock-value comment out of the way now instead of saving it for the TL;DR later in this dispatch: I truly believe that Portals is going to set price records that are on par with — actually, likely to exceed — the values established by The Sandbox and Decentraland.

And for the record, both of those Ethereum-network metaverses have seen seven-figure deals.

There — I am officially on record stating that Portals is going to emerge as the most expensive metaverse on either the Solana or Ethereum networks.

Now, we can continue…

I’ve been following the Portals story since the project minted back in November. Since my first Portals dispatch on Nov. 26 — when I wrote, “Seriously, go buy a Portal” — I’ve continually pushed the Portals narrative because I could see where this particular metaverse project was headed.

At that moment, Portals Ivories (the common Portal), were selling for 2 SOL. I wrote at the time: “Anything under 5 SOL and you’re gonna be a happy camper, long-term.”

Turns out, “long term” was two months.

Today, an Ivory will set you back 54 SOL on Magic Eden and 60 SOL on Solanart. Not a bad 27x — 30x move.

But, frankly, I now see that I’ve been too milquetoast in my thinking on Portals.

I should have been much more aggressive on future pricing.

What we’ve experienced so far is just the appetizer to what’s ultimately going to be a grand meal at a Michelin-starred restaurant. Indeed, I now fully expect that a Portal is going to fetch a multi-million-dollar price tag. That will be a Vision Portal, of course — the high-end, two-story penthouse Portal.

Still, that just means that an Onyx could ultimately see a low-seven-figure price tag, while Ivories could very well sell for low- to mid-six-figures, meaning even a 54 SOL price today (roughly $4,900), an Ivory Portal could very well see a 50x to 80x from here.

I know… “Way too much hopeium, Jeff! Put the pipe down and seek rehab!”


But, then again…

February promises to be a helluva month for Portals. I would not be at all surprised if we come out the backside of the month with Ivories closing in on a 100 SOL price.

Jeff Opdyke (Jeffo)

Former Wall Street Journal writer living in Prague. Crypto and investing. Editor Global Intelligence Letter. Also on Substack: