I've been building a position in @badbunnz_ NFTs as I believe they're the best way to get liquid exposure to @megaeth_labs and the @0xMegaMafia.
Bad Bunnz have cemented themselves as the PFP NFT of choice for the MegaETH ecosystem, which makes them a prime candidate for MegaMafia airdrops.
Let's do some quick math đ
Current mcap of Bad Bunnz = $3.5M.
First cohort of MegaMafia projects (15 projects) raised $40M in venture, let's assume their collective valuation is $400M.
MegaMafia 2.0 (an additional 15 projects) is currently in progress; let's assume its collective valuation is half of the first cohort's ($200M).
Collective MegaMafia FDV = $600M, or $20M FDV per project.
(Note: This is probably undershooting it as @GTE_XYZ just reportedly raised at a $150 - $160M valuation, which alone is more than 25% of my above estimate.)
Bad Bunnz mcap ($3.5M) / MegaMafia FDV ($600M) = 0.58%
Based on my assumptions, the market is currently pricing in Bad Bunnz receiving ~0.58% of the total token supply of MegaMafia projects.
This seems quite low, especially if you have even more bullish projections about the MegaMafia ($1B FDV implies 0.35% of supply).
The only caveat is @TheFluffleNFT. However, since it is a Soulbound NFT, it is less attractive as both a speculation vehicle and an airdrop target.
Finally, as a sanity check, we can compare to @HyperliquidX and @HypioHL.
Despite Hyperliquid having an unofficial (although unreleased) NFT collection, Wealthy Hypio Babies trade at a $20 million market cap. In other words, I don't think Fluffle NFTs will be an issue for Bad Bunnz.
