Despite buyer hesitation, Nftrees have commanded and continue to command impressive prices. Rarer traits have led to even more value increases, with Nftree prices reaching as high as 23.7 ETH ($62,786).
Nftrees, a collection of 420 unique digital trees in the Treeverse (MMORPG) ecosystem, offer a rare opportunity for some of the players to invest and own assets that are expected to have monetizable utility in-game. Like other Treeverse collectibles (e.g. Characters/Land), Nftrees provide not only aesthetic value but also gameplay functionality. Players can place their Nftrees within the game world, where they will grow fruits that can be sold or consumed for in-game benefits.
Gameplay Utility of Nftrees
Each Nftree has distinct traits that determine the type of fruit it produces. These fruits, akin to consumable items like potions, provide temporary in-game buffs to players. The rarity of the Nftree’s traits directly affects the fruit’s properties, with rarer trees yielding more powerful fruits. According to earlier announcements, which are subject to change, players can interact with a Nftree once a week to receive a fruit, which can then be sold or used. The owner of the Nftree sets the price for this interaction, earning maybe as high as 90% of tokens paid, with the remaining 10% going toward in-game mechanics. This play-to-earn aspect of Nftrees establishes them as potentially valuable assets within the Treeverse economy.
Scarcity and Market Prices
With only 420 Nftrees in existence, scarcity is a key driver of their value. Moreover, each Nftree is randomly generated with unique traits, some of which are extremely rare and sought after by collectors. For instance, Nftree #121, featuring the rare Crossyroad Biome trait (a 2% chance), sold for 1.5 ETH in March 2021, valued at $2,878. The current listing price is 21.6 ETH, equivalent to $57,112 today. While this reflects a significant rise, buyer offers remain around $10,473, showing continued interest but falling somewhat short of the seller’s expectations.
This trend of rising price points can be seen across other Nftrees as well. Nftree #387, which holds the StarryNight background trait (also a 2% rarity), was sold for 2.5 ETH ($4,171) in 2021 and is now listed for 23.7 ETH, or $62,786. However, buyer offers are currently around $6,800.
Despite strong demand, many buyers seem hesitant to meet the higher prices now being set in the marketplace. This is particularly evident in cases like Nftree #104, which sold for 14.98 ETH in April 2022 ($42,087 at the time). Today, the highest offer is only $13,300, significantly lower than the previous sale price. Even though Nftrees are highly coveted, this reluctance demonstrates a key pattern: while buyers are willing to pay premium prices for these assets, they are not necessarily willing to meet the escalating prices driven by sellers.
Future Utility in Capsule Heroes?
In addition to their use in Treeverse, Nftrees are also expected to have a role in the upcoming game, Capsule Heroes. This additional utility could further enhance the value and demand for these rare assets in the future, but specific details are not yet available.
Ultimately, once the games are released and their economies are operational, the value of these NFTs will primarily be influenced by actual in-game earnings and player engagement. This means that market prices will likely reflect the utility and demand generated by gameplay rather than speculative factors. Potential buyers should consider that the future worth of these assets is currently unknown and will depend on their actual use within the game environment.
In conclusion, Nftrees represent a rare, presumably valuable, utility-driven asset in the Treeverse ecosystem. With their reported potential to generate cryptocurrency ($END) through fruit sales and their future integration into other games, Nftrees continue to attract attention in the marketplace. However, as the example of Nftree #104 shows, not all transactions result in dramatic value increases, and market dynamics can vary significantly depending on specific assets and buyer interest.
⚠ Disclaimer: The author is not affiliated with, nor receives any financial compensation from, the products or companies mentioned. This article is intended for informational purposes only and does not constitute investment advice.
Treeverse website: https://treeverse.net/