- INVESTMENT IDEAS
The Doge Pound featuring Jordan Belfort
- The Doge Pound is an NFT project with 10,000 unique doge art pieces.
- Holders of Doge Pound NFTs get access to launchpad benefits in the future.
- Key risks for The Doge Pound is Jordan Belfort and other whales.
- The Doge Pound capitalises on NFT incentive and rewards trend.
There is embedded scarcity in Doge Pound NFTs, as holders are incentivised to hold at least one of their Doges for launchpad benefits. This results in a shrinking supply and an increase to the NFTs’ floor price.
Currently there are 10,000 unique Doges distributed across 4,800 owners with a floor price of 3.52 ETH. Ironically, the floor price has increased from when the snippet was taken below to 3.52 ETH.
The project seeks to capitalise on the passive income narrative by providing launchpad rewards. The strategy is that the rewards exponentially increase with supply scarcity and HODL patterns of Doge Pound NFTs. The size and growth of an NFT community is often assessed via twitter following. The Doge pound currently has 68,000 followers.
Whales exist in this market and hold tremendous influence as they can dump on new buyers. Aside from his marketing prowess, Jordan Belfort’s involvement is a concern given that he is promoting a later-stage NFT project that has appreciated 50x from the mint price of 0.069 ETH.
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