Obscure NFT collection from 2019 racks up a $100 million valuation Obscure NFT collection from 2019 racks up a $100 million valuation

Obscure NFT collection from 2019 racks up a $100 million valuation

WHALE token is marketed as the first social crypto backed by the NFT collection.ย 

Obscure NFT collection from 2019 racks up a $100 million valuation

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

With over 13,000 NFTs in its portfolio, the WHALE Vault was valued at over $100 million in the latest audit published by

WHALE was launched in May 2020 as an ERC-20 token and is primarily backed by the NFT collection stored within The Vault.

Based on market conditions and analysis, the popular NFT market metrics tracker publishes a valuation of the WHALE Vault on a monthly basis, while accounting for balance and inflow and outflows of NFT assets in the collection.

The WHALE Vault value increases 29%

The collection was started in 2019 by an anonymous investor, known under the pseudonym “WhaleShark,” and includes some of the rarest NFTs from Gods Unchained, Sandbox and Avastars, among others.

According to the latest valuation report, the Vault value grew to $126,153,559 in November.

Alongside NFTs, which account for almost 90% of the amount, the audit also took in consideration the fungible assets in the Vault, which amount to $8,9 million, as well as $4,2 million allocated in WHALE Liquidity Pool.

Out of 13,274 assets in the portfolio, valued at roughly $112,9 million, NBA Top Shot NFTs make up 72% of the Vault collection volume, accounting for 17% ($18,8 million) of the total sum.

In the meantime, 513 SuperRare NFTs, which make up only 4% of the Vault collection volume, account for $72,7 million.

Despite NFT collectibles cooling down

โ€œWhile certain projects like the Bored Ape Yacht Club (BAYC) actually saw their value grow, the majority of the NFT collections are in the throes of a downward trend,โ€ read DappRaddarโ€™s monthly industry report.

The popular data acquisition and analysis company noted that the NFT space generated $3,76 billion in trading volume in November, revealing a 15% decrease from Octoberโ€™s numbers.ย 

While identifying that the trading volume of NFT collectibles decreased 16% month-over-month, the report concluded that in November the NFT space, particularly collectibles, entered a โ€œcool downโ€ phase.

During this bearish phase, the WHALE Vault added 56 NFTs, while the collection value increased by an impressive 29%.

Besides the regular addition of new assets, the recorded growth reflects the increase in value of the assets in the VAULT, as well as the increase in the price of Ethereum.

Posted In: Edge, NFTs