Summary: Invisible Friends is a popular NFT series by renowned 3D digital artist Markus Magnusson that was launched and minted in February of 2021. The series explores the idea of imaginary friends, and each NFT in the series is a unique, one-of-a-kind 3D character in a collection of 5,000 pieces.
In this guide, we will overview the genesis of the Invisible Friends collections, its growth and forthcoming roadmap to help you decide if it is a good investment for your NFT portfolio.
What is Invisible Friends?
Invisible Friends is one of the most valuable animated 3D NFTs on the Ethereum network that was released by Markus Magnusson, or @MotionMarkus on Twitter. The collection was one of the first animated series of NFTs and created a trend of 3D animated NFT series after its release and immediate success.
The collection was so popular that KITH, one of the world's largest lifestyle brands, partnered with Markus to develop a spinoff series called KITH Friends. This new series was released in March of 2021 and is an ongoing collaboration between the two artists.
Do the Invisible Friends NFT have Utility?
Holders of the Invisible Friends NFT get utility out of the collectable through airdrops, unique experiences and membership to their private group. Most notably, Invisible Friends holders will get the opportunity to mint an upcoming 3D series by prominent artist Nguyen Hunt called 3D INVISIBLE FRIENDS.
All Invisible Friends holders will get access to the whitelist and presale, which means they will be able to get the NFT at a low price and have the opportunity to flip it for a profit. Outside of this, there are expected to be other airdrops in 2023 of unique art created by Markus.
Invisible Friends Traits and Rarity
The Invisible Friends series has 12 different properties which differentiate each NFT. The rarest traits are Ghost & Spooky traits, which typically fetch a higher floor price of around 5-6 ETH. The 12 properties in the collection are:
- Left Arm
- Right Arm
- Upper Body
Invisible Friends NFT Floor Price
The Invisible Friends NFT collection has not been immune to the significant downtrend that has gripped the cryptocurrency market since 2023. Its valuation has taken a substantial hit along with the broader market, struggling to maintain stability. As it currently stands, the base price for Invisible Friends has plummeted to approximately 0.95 ETH, equating to roughly $1,600 in USD. This represents a precipitous 80% fall from its initial average launch price of 7.1 ETH. To stay updated with live market values, you may refer to the real-time floor price data.
Is Invisible Friends a Good Investment?
The Invisible Friends NFT collection, although previously considered a popular and consistent investment in the NFT marketplace, has encountered a challenging period during the 2023 bear market. Despite having a strong holder base and substantial interest, the series has witnessed a significant depreciation in value, rather than maintaining stability.
However, for long-term investors, there could still be potential benefits. The project periodically offers opportunities for value appreciation through airdrops and collaborations with prominent artists. The recent alliance with Nguyen Hunt, a respected figure in the art world, suggests that interest in the project from renowned artists remains robust. While the series has experienced a considerable setback in the recent market downturn, if you are patient and prepared for the inherent risks, Invisible Friends might still merit consideration for diversifying your NFT portfolio.
In conclusion, Invisible Friends, one of the pioneering animated 3D NFT series on the Ethereum network, has experienced significant market volatility in 2023. Despite the downtrend, the collection continues to demonstrate potential with utility for holders such as exclusive airdrops and collaborations, most recently with artist Nguyen Hunt.
It's important to keep in mind that while the current base price has dropped substantially, long-term investors might still find value in this collection, particularly those looking to diversify their NFT portfolios. Remember, as with all investments, it's essential to consider your risk tolerance and investment horizon. Keep an eye on this project for potential future opportunities and market rebounds.