An overview of Project Nanopass
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May 25th, 2022

Nanoverse HQ is one of the most ambitious web3 projects in the recent DAO market. The founder of Nanoverse intends to create a unique metaverse through several sub-net projects to support. I will go through all these subnets for you to understand what kind of metaverse Nanoverse is trying to build, but just Nanopass in this article to avoid a lengthy paper. I will analyze other subnets in the future.

The key person of the project is named Rei, who is the founder of all the sub-net projects, including Nanopass, Project PXN, NFT Keys, and Oxygen Lab. In the recent activity of the community, these projects are starting to crossover.

What is Nanopass?

Phrase 1 - The Nanopass

Nanopass is a starting point, or a seed, of the whole Nanoverese. It is reaching phase 2 up to date.

In December 2021, the Nanopass debuted in 5 ARCHETYPES - Cyberpunk, Eastern Gem, Spacestation, Underworld, and Fantasy, Phase 1 of the project. The total 5,555 collections were procedurally generated from a base set of 22 unique and animated assets, which is aesthetic. Privileges for the Nanopass holders include weekly Black Boxes (mentioned below), early priority to future projects, and guaranteed presale slots in Phase 2+.

The Nanopass holders’ immediate return is the weekly Black Boxes, which may contain physical goods, other popular NFTs, or a donation to a charitable cause as the community decides. The Black Boxes are funded by a community vault which receives 75% of all secondary market royalties. According to the Twitter feed on 1st April, their community vault was about 440e after the last payout from Open sea. The team also is paying an effort to bring more goodies to the Nanopass holders, such as NFT drops and other series of Black Boxes.

Phrase 2 - The Agent (A.I. Assistant)

Phrase 2 is still under development, but some details are already revealed. It will be a 3D avatar with aesthetical designs, but what makes the avatar different from all the 3D NFT in the modern market is that the team is making them with AI technology combining neural networks and rules-based models. The team named these avatars ‘The Agent, ’ which was inspired by the idea of Jarvis from Iron Man. At the early stage, the Agent can do so little things such as hanging out in the Nanopass lands (Phrase 1); they will idle, read books, play, go to sleep, and even brush their teeth when they wake up. And they will be able to finish more intellectual tasks and personalized reactions after your training. The goal is to make the Agents act naturally in their living environments.

Nanoverse HQ revealing the progress of the Agents design
Nanoverse HQ revealing the progress of the Agents design

You may ask who will need an A.I. assistant? The change in the workplace culture results in an increasing number of people who will work remotely and alone in the future. We see Iron Man works alone in his villa with Jarvis. In other words, an agent can be your companion! The lasting AMA also suggested that Nanoverse will be compatible with mobile devices, and agents can be projected with AR and ‘run around.’

Given its community-driven nature, the functions added to the Agents have many possibilities decided by the community. Examples of suggestions are ‘a voice pack of my wife’ and ‘solving things shown on the screen.’

Analysis

I will analyze the project in several aspects, including the team, the community, and the project itself.

There are five core team members in the Nanopass project and have all their Twitter accounts connected on the Nanoverse website, and only the MARKETING LEAD @iamabsinthe reveals her real face. According to the official Nanoverse HQ Twitter account, the team recently announced that they have more than 100 members recruited for the projects. Considering the ambition and complexity of the A.I. models of all the projects under Nanoverse, such enormous recruitment seems reasonable. Also, it provides confidence for the community and potential investors.

The team is also knowledgeable about how to manage the market. The interactions of Twitter threads are averagely high, which is frequently seen in 3 or 4-digit. The team is willing to keep the project transparent and keep revealing progress.

I have seeped into the Discord channel and found that the community's interaction is high and full of love. In Feb 2022, the community agreed to donate a total of 20.53ETH to the Binance Ukraine Emergency Relief Fund ( txn 0xf268d79f2da00169eeda924146f0a9f8b060d1e15ac8cfbe69a495bda5c20956 ) funded by the royalties payment. The mods and team members are willing to communicate, and the atmosphere is quite hype. Therefore, if you are looking for an active community and lovely mates, there will be a good fit.

As for the project itself, let’s dive deeper into some data (quantitative) and information (qualitative). The FP of Nanopass (2.488E) up to the day I write this paper is already 28x from its mint price (0.08888e). Therefore, for early Nanopass holders, this is a considerable return.

The weekly airdrop of Black Boxes also generates passive income for the holders. However, since the airdrops are funded by the treasure vault, which collects 75% of the royalty fee, such a mechanism highly relies on the trading volume of Nanopass. The volume (7D) is $663.37K, it is approximately $9 (663,000 x 10% x 75% / 5,555) to each Nanopass holder passive income based on this trading volume. The less promising future income may further decrease the trading volume and vice versa. On the other hand, the major market now is down, and with the low-mobility nature of NFT, the performance of Nanopass is as expected.

The all-time trading volume of Nanopass
The all-time trading volume of Nanopass

In the future, the team will continue to seek out prime project whitelists and embed them into the Black Box. Also, with the launch of phase 2, it is expected that the trading volume will pump again.

Last but not least, Nanopass is also trusted by Blue Chip Holders. Around 25% of Nanopass holders also hold Otherdeed, MAYC & Doodles, etc. 25 Nanopass holders are whales holding 156 Nanopass. This signal may suggest that this is a potential project you should put on your watchlist.

Is it a good time to buy now?

It is hard to define a good time; it depends on how you feel about the project and your investment strategy. It may be an embarrassing situation if your goal is to flip the Nanopass since it is, on the one hand, 20X the mint price and a 50% drop from the ATH on the other hand. There are avg. 20 Nanopass sales every day recently, so the mobility is normal, and there may be some room for flipping.

But if you are a long-term investor, you may be happy to see Nanopass is on sale now. Since the team, community, and project ideas are pretty promising, it seems like an excellent project to be invested in—the avg. FP of Nanopass sold in the last seven days is 1.95ETH.

Where to buy

You can have a Nanopass on secondary NFT marketplaces such as X2Y2 and Open sea. I prefer X2Y2 because it provides a lower trading fee and an incentive for both buyer and seller (Only 0.5% trading fee in May, and sellers share 100% X2Y2 rebates!). So I believe no one would like to pay more to purchase the same NFT; you shall give X2Y2 a try.

Cheaper fee, better user experience in X2Y2
Cheaper fee, better user experience in X2Y2

Conclusion

If you are an experienced NFT player, this shall be a surprising project since it is ambitious to crossover other prime projects in the future. If you are new to NFT and decide to invest in this cutting-edge field, having a Nanopass will need you to learn a lot about this market. The Nanoverse community is helpful if you are confused about their activities. You can experience how DAO works and have a sense of control over the project.

Twitter: @Goldenchichi1

Be the dreamer who hits the ground

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