MetaPurse Fund – Portfolio Valuation

For the second time, we had the opportunity to assess the total value of the portfolio built by the MetaPurse Fund, carried by MetaKovan & Twobadour.

This new portfolio valuation comes at a pivotal moment in the history of the Fund, a few days after the official announcement of the acquisition of the most expensive NFT of all time by the MetaPurse Fund:

“Everydays: The First 5000 Days” by Beeple, bought by the fund for the sum of $ 69M.

The purchase of this artwork occured during the process of valuation the portfolio, we have decided to take in account this historic purchase, considering its last auction price (fees included): $69,346,250.

What is new in this second Valuation?

1- Fungible assets included

Unlike the first Portfolio Valuation, we took into account the total value of all the cryptocurrencies present in the different Wallets of the fund, based on the value of each cryptocurrency (source: CoinGecko.com).

2- B20 holdings included

The MetaPurse Fund holds, on the day of Valuation, approximately 5,000,000 B20 Tokens, issued by the Fund, the value of which is partially backed by the assets of the Fund. The value of B20 at the time of the Valuation process, led this token to represent a major part of the portfolio value.

3- Nifty Gateway collection included

The collection of artwork purchased on Nifty Gateway by the two MetaPurse Fund accounts has also been included. The value taken into account for these assets comes from the “Average Price” displayed by Nifty Gateway for each Artwork Series.

4- Methodology refined

For all assets, improvements have been made to our valuation methodologies to better reflect the current value of the NFTs.

These include adjustment of the timespan studied, or adjustment of the surrounding area analyzed (for metaverses), cross-marketplaces analysis for artist ratings, etc. These adjustments allow us to propose increasingly precise evaluations and are most often the result of observations by our market analysts.

MetaPurse Portfolio Performance

The Valuation Process of the Portfolio led to a total value of $ 189,293,626.

This exceptional performance is mainly based on

• the holdings in B20 ($ 72M / 40%)
• the NFT portfolio ($ 46M / 26%)
• ‘Everydays: The 5000 First Days’ by Beeple ($ 69M / 33%)

Cryptocurrencies (MANA / ETH / SAND / …) represent barely 1% of the fund’s assets.

Project	Volume of assets	Total value
The Sandbox	1 545	$281 456.73
CryptoVoxels | Parcels	153	$1 571 672.05
CryptoVoxels | Name	1	$35.64
Decentraland | LAND	939	$18 619 137.60
Decentraland | ESTATE	23	$20 852 367.90
Decentraland | Name	3	$210.00
Decentraland | Wearables	1	$472.50
Somnium Space	170	$1 350 723.31
F1 Delta Time	51	$1 297 563.98
Cryptokitties	3	$412.79
Rarible	4	$11 404.80
SuperRare	65	$251 278.55
AsyncArt	29	$439 395.79
MakersPlace	22	$32 501.34
CryptoPunks	4	$188 000.00
KnownOrigin	10	$23 005.62
Nifty Gateway	149	$1 652 115.00
Ethereum Name Service	8	$1 425.60
Others	35	$60 766.00
TOTAL	3 215	$46 633 945.22

Exclusive & Unique assets

One of the main challenges of this Valuation resided in the valuation of rare, unique, exclusive assets, practically incomparable with other similar assets.

Added to this challenge is an additional complexity linked to the massive increase in the value of cryptocurrencies since the previous Portfolio Valuation (November 2020)

In order to best estimate these assets, we have decided to take into account:

• the market history of the closest assets, making it possible to project the potential evolution of these exceptional assets
• an in-between of the evolution of the crypto value and the USD value, starting from the hypothesis (verified empirically on the NFT markets) that the price of an asset is more and more decorrelated from the cryptocurrency , without being totally independent yet

Among these outstanding assets, we notably count:

Access the asset on OpenSea →

Access the asset on OpenSea →

Access the asset on Async.art →

Access the asset on Christies →

Conclusion

The next MetaPurse fund Portfolio Assessment will be conducted between May and June 2021.

Until then, our teams of market analysts remain at your disposal to answer any questions concerning the portfolio valuation.

If you wish to have your portfolio evaluated, please reach out via our dedicated form.