A much-hyped Invisible Friends NFT collection is a collection of animated invisible characters. How to see the invisibles? The bodies of the NFT characters can be discerned thanks to the shapes of their clothes, accessories, and items that they have.
The collection was a joint effort of several communities united under the name Random Character Collective. The line includes 5,000 animated NFT figures.
A quick social network search will shed light on the amount of hype around the project. Twitter is the numero uno social network in the NFT market, many collections are born there. Invisible Friends have more than 500K subscribers on Twitter and about 240K NFT heads following it on Discord.
There was no public sale announced for the project, meaning that only the whitelisted participants were able to get an NFT during a mint that took place on February 23rd on the Ethereum blockchain. The opening price was 0.25 ETH, each person was allowed to get no more than one Invisible Friend. An hour into minting, the minimum price had already passed over the 11 ETH mark; the mint proved to be a huge success.
Today, Invisible Friends NFTs can be purchased on OpenSea, the floor price hovering at around 7 ETH. If a token holder sells it now, s/he will get the initial price paid multiplied by 28. What a leap in a month and a half one might think. In fact, the price is justified by the fact that it was a real challenge to get onto the whitelist.
Who can get whitelisted?
There were several options of how to get onto the coveted list of those allowed to take part in the mint:
- Be an active community member on social networks
Help maintain the hype over the project, play and earn points on discord.
- Create art.
Make fan art and promote it everywhere.
- Hold other NFT creators’ collections.
Namely, SlimHoods or MoodRollers by Lucas. There were 2,500 seats allocated for holders, you had to earn 4 points (= buy 4 NFTs) to get the right for joining the whitelist. Back then, the price of these NFTs surpassed 1ETH (now the floor of SlimHoods is 0.4 ETH). Putting it another way, you had to spend about 4 ETH on some not-that-popular NFTs, only to hardly double it on Invisible Friends later.
Yet, practice shows that even with all the effort invested there’s still no guarantee of getting whitelisted. You better be friends with Lady Luck.
NFT holders will have access to the Invisible Friends 3D collection, which will be released in the summer of 2022, they will also gain access to other future collections. This step might help attract more attention to the project.
Is it worth buying an Invisible Friend now?
To put it briefly, probably not.
Several indicators define the success of a project. Firstly, it is the holder-NFT ratio. For such loud collections, it should be close to one. To date, Invisible Friends with 4.1K holders have the 0.82 indicator, which speaks to pretty good prospects of the collection.
Second comes the amount of NFTs up for sale. Ideally, no more than 5% should be available on the marketplace, so no more than 250 NFTs for this collection; yet there are 700 pieces being sold on OpenSea as of today.
NFT collections are considered to have two entry points: whitelist and 1.5-2 months after the mint. Wait till the end of April to revisit both indicators and decide whether this NFT collection is worth making a move towards.