As 2022 winds down, the industry’s attention is focused on one upcoming NFT project, Valhalla NFT. Crypto Twitter users have criticized Valhalla NFT with a large user base in the gaming community, for its exorbitant mint price and questionable creator.
Valhalla NFT Collection project aimed at gamers, has a lot going for it: a Series A firm with significant VC support ($15 million in financing), popular collaborations, excellent artwork, and a completely doxxed founding team with a reputation in web2 groups.
Although it has yet to be released, the project earned 16,373 pre-order deposits (essentially selling out in under a minute) and sold 5% of its collection. Valhalla NFT is also trending on Twitter, although only sometimes for positive reasons. Whether you’re interested in finding out if the hoopla around this project is warranted, keep reading the blog to learn more.
The goal of the Valhalla NFT project is to make it the most popular gaming NFT in the world. Valhalla is more than just a virtual hangout for gamers. Clutch plays, ELO grinds, and overtime victories epitomize decades of gaming culture. If you’re a gamer, check out Valhalla, a crypto-native company.
Valhalla is a PFP project with plenty of useful features for those who love both video games and trendy clothing. Joining their community will provide you access to our exclusive events and digital drops only available to our members. The company driving the initiative is Stacked Studios, which was formed by Alex Lin, a serial entrepreneur who is a two-time Y Combinator founder and a Forbes 30 under 30.
The Valhalla brand positions itself as “a crypto native brand for gamers,” and its marketing efforts regularly use gaming terminology. It is a standard 10,000 coin collection and will manufacture 9000 NFTs from that sum. The remaining 1,000 are being auctioned off daily, unlike those used for Nouns.
On November 22nd, the first three minting phases for the project’s early backers, loyalists, and whitelisted participants will commence. On November 23rd, the second of two stages will begin, allowing those who missed out on the presale to the mint before the minting opens to the general public who submit their wallets to the team’s mint list in advance of the procedure. The strengths of the Valhalla project lie in its personnel, partnerships, and artwork.
The fundamental point in the argument is whether the project can offer advantages commensurate with its outrageously high cost of 0.5 ETH, even though the NFT area is no stranger to amounts like this.
The team has alluded to several potential use cases (including access to the GTA and Minecraft servers used by affiliated Esports teams and interactions with well-known gaming content creators). Still, these promises seem like nothing more than lip service without written proof and a roadmap.
After high mint prices, only a select few brands, notably Azuki Zen and Invisible Friends, have proven effective from the standpoint of NFT holders.
The vast majority of famous collections, such as BAYC and World of Women, were issued at 0.05 ETH to 0.1 ETH. In addition, a Dune Dashboard found a negative relationship between primary sales revenue and performance post-mint, suggesting that although NFT companies may easily rise from 0.02 ETH to upwards of 0.2 ETH, doing so from 0.5 ETH to 5 ETH is quite difficult.
The project’s reasoning for the mint price is simple: holders will enjoy great front page prominence when Stacked does become a well-known streaming platform, in addition to the aforementioned utilities. That’s the equivalent of a first-page presence on sites like YouTube and Twitch for gamers who rely on streaming as their major source of revenue. This guarantee is contingent on the popularity of the platform.
Twitter users who support the brand provide more logical justifications. They suspect the whitelist candidates will flip their NFTs. By charging more, you may protect the project from that and inspire customers to stick with your brand.
Although the project has a solid foundation, there have been other cases (such as Winter Bears and Galaxy Eggs) where everything seemed to be in place — including teams who were widely held in high regard — yet they nonetheless ended up disappointing backers.
The limitations of this situation can be traced back to the NFT space itself. Promises of profits to token holders might lead to the tokens being regulated as securities, making them unusable by the NFT’s creators. In light of this, even if brands are optimistic about the long-term prospects of their NFTs (and do not want to provide worthless utilities), they cannot convey this optimism to holders.
The discussion on the mint price may go indefinitely, but the team’s successful presale shows that the market has faith in their abilities. To make smart NFT investments, however, you need to DYOR and rely on more than just Twitter rumors.
The Valhalla NFT Team
Stacked is a widely funded web3 business that aims to harness the P2E mentality of the industry to compete with the streaming site Twitch. Pantera Capital, Comcast Ventures, Z Venture Capital (formed from the merging of Yahoo! Japan with messaging network LINE), Carl Pei (co-Founder of digital titans OnePlus and Nothing) are among the prominent venture capital firms that have invested in the platform.
Valhalla’s CEO, Alex Lin, has founded and led two other successful businesses during his 12 years in the business world. Some other doxxed team members are seasoned builders with experience at places like Y-Combinator, MIT, Google, Uber, and Goldman Sachs.
There are, however, those who are critical of Alex, the company’s creator. Anime NFT project 1984 charged Alex with defamation in a public Twitter post (later documented in their complaint) after Alex insulted the project and its creator on Twitter.
The Sentinels, the best team in Valorant, a very popular game from Riot Entertainment, are friends with the Valhalla squad. It partnered with hclDesign, Blizzard Entertainment’s primary 3D character artist, and Evil Geniuses’ wildly successful graphic designer, Owen Roe.
To take advantage of Web3’s rapid community input, the team is putting its energy into cultivating a small, tightly-knit group of users and establishing a solid reputation in the social sphere via strategic alliances.
The community and artwork
By working together, we constructed Greg the Gatekeeper, a virtual character that acts as a symbolic gatekeeper for the group and makes member announcements. Founder Alex Lin wants to create a community similar to Azuki and RTFKT’s CloneX; therefore, he’s only letting invited users in with special codes. Much like the Proof foundation, the team communicates through a private Discord channel, and community members are either invited or approved after a thorough application procedure.
Valhalla’s artwork’s extraordinary quality and comic book style have made him a Twitter sensation. The Valhalla team plans to release the early beta version of their streaming platform, Stacked, with their marketplace launch in the first quarter of 2023. However, the project’s support was splintered when the development team announced that the NFTs’ mint price would be an exorbitant 0.5 ETH.
Valhalla is the most recent example of a highly competent team putting in a year’s worth of effort (starting in 2021 when NFTs boomed) and eventually making it to market, following in the footsteps of Ey3k0n and KPR. Time was required to build this new meta, but the rewards for the NFT scene as a whole will be substantial: the bar for quality will continue to rise, and with it, the infusion of top-tier talent. Valhalla is a perfect 10 since it is well-funded, has a long road ahead of it, and will merge reliably with Stacked.