Full Analysis of Jenny DAO portfolio

By ArtCentral

05/11/2021

The following information does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the content as such.

Detailed Appraisal Spreadsheet: https://bit.ly/3wyPh4J

Overview

Jenny DAO’s portfolio is made up of 114 pieces purchased between May 17th and October 10th, 2021, with most purchases in August.

The portfolio consists of

  • 108 pieces from 13 different artists or projects:
  • Hovering at the Convergence of Entrances and Exits by Shi Zheng (24)
  • Meebit (21)
  • Chromie Squiggle by Snowfro (17)
  • Rocket Factory by Tom Sachs (15)
  • CyberKong VX (12)
  • CyberKong (7)
  • Bored Ape (4)
  • Wrapped CryptoPunk W#843 and W#9717 (2)
  • Fortune Magazine cover — Aspiring Chad
  • Glass #175/196 — by SSX3LAU
  • Smoking Hot by Yat
  • Fidenza #703 by Tyler Hobbs
  • Meridian #989 by mattdesl
  • Շɦﻉ ҀЯФЅЅФVﻉЯ』+。by Oseanworld
  • 6 unique pieces specially commissioned for Jenny DAO:
  • Jenny in the Sky with Dreams, Man by Sarah Zucker / @thesarahshow
  • Jenny Song by Steve Aoki and 3LAU
  • xOr Jenny
  • INVERTED_FVCK// by Fvckrender
  • Cloud Coverage by slimesunday
  • Noun66 by Noun

Note: Since the purchase price for Smoking Hot could not be confirmed by Jenny DAO, this piece has been excluded from all calculations (purchase value, performance, etc.)

The total purchase value is $1,808,000.00 + 677.8961 ETH, for a total of $3,924,176.78 (based on historical conversion rates on the purchase day)

The most expensive purchase was made for Jenny Song by Steve Aoki and 3LAU ($1,000,000), while the cheapest ones were the pieces making up the “Hovering at the Convergence of Entrances and Exits” series by Shi Zheng, purchased for 0.3125 ETH each.

Appraisal methodology

The appraisal methodology used was different depending on their type.

  • Multi-edition pieces (identical pieces minted as a series)

The appraisal method is based on a weighted average that gives higher importance to recent sales, similar to Exponential Moving Average.

  • Collection pieces (unique pieces part of a larger collection)

Appraisal based on a weighted average giving higher importance to recent sales, similar to Exponential Moving Average, incorporating the relative value of traits.

  • Unique pieces (both commercial and commissioned)

Unique pieces pose specific challenges when it comes to appraisal as relevant data points are often missing. As a consequence, qualitative elements were included to supplement/confirm the limited quantitative data available.

The following methods were used:

  • Weighted average of past 1/1 sales (thesarahshow, Fvckrender, Oseanworld, slimesunday)
  • Comparison of past 1/1 + multi-edition sales with October 2021 sales (x0r)
  • Recent individual sales, historical significance, artists’ prestige and quality of collaboration (Steve Aoki, 3LAU)

Note:

Insufficient data or information was found on Shi_Zheng’s “Hovering at the Convergence of Entrances and Exits” and on Jerry Noun to perform an appraisal.

As a result, original purchase amounts have been maintained for performance calculations.

Performance Analysis

5 Best performing projects/pieces/collections

  • + 376% average for the 4 Bored Ape pieces
  • + 312% average for the 12 CyberKong pieces
  • + 181% for xOr Jenny
  • + 163.4% average for the 17 Chromie Squiggle pieces
  • + 136.2% average for both Wrapped CryptoPunks (W#843 & W#9717)

3 Least performing projects/pieces/collections

  • -46.5% Fortune Magazine cover — Aspiring Chad
  • -39.1% INVERTED_FVCK// by Fvckrender
  • -24.3% Meridian #989 by mattdesl

Other noteworthy observations

  • Some pieces from the same collection showed great performance diversity. This is visible within the Rocket Factory project, with the Brian Nose Cone’s value rising by 33% only, vs. 210% for the Trojan Nose Cone.
  • Both CyberKongz pieces’ value increased significantly, although with a much stronger performance for CyberKongz pieces over CyberKongVX.
  • A large majority of the gains come from 2 projects (Bore Apes and Crypto Punks) and only 6 pieces.

Conclusion : Total Portfolio Performance

  • A large majority of pieces of Jenny DAO’s portfolio gained value since their purchase.
  • Only 1 piece (Fortune Magazine cover — Aspiring Chad) lost almost half of its value, but since the initial investment for it was relatively low, the impact on the overall portfolio’s value is very limited.
  • The great performance of 2 iconic projects (Bore Apes and Crypto Punks), whose value is relatively high compared to other pieces, has a very positive impact on the total portfolio performance growth.
  • Total performance growth as of Nov. 5, 2021:
  • +74.8% (including ETH growth over that same period)
  • +41.4% (excluding ETH growth over that same period)

The first Metaverse DAO and social token on Unicly