This week, the team behind DeGods NFT grabbed the market’s attention with its Yoots NFT project launch. That’s no bad thing, as it means the high-upside, high-risk NFT project I’m going to tell you about remains under the radar for now.

Lasogette is a profile picture project of 7,777 NFTs that is similar in many ways to Milady Maker. It’s currently trading at just under 0.1 ETH, but I believe there is a chance its price will experience a breakout once the wider market tunes into the collection. 

Despite the attention Yoots has been receiving, in-the-know influencers have been tweeting about Lasogette, and I think others will pick up on it soon. Just yesterday, Lasogette began tweeting about an airdrop, although it is hard to tell if they are serious as many of their tweets contain nonsense and⁠—as a warning⁠⁠—might be offensive to you.

In terms of similarities between Lasogette and Milady Maker, we could potentially go as far as to say the two projects are linked. Certainly, Lasogette is paying homage to Milady, its creator Monsieur Lasogette’s Twitter banner says, ‘This user believes in network spirituality.’ Network spirituality is a key belief of the Milady project; additionally, both projects have tweeted about autism and sexuality, alongside other ideas that are probably best described as anarchist.

Monsieur Lasogette’s Twitter Banner is a direct reference to the Milady Maker collection.

The two projects also have some visual similarities, with lo-fi characters in front of backgrounds that look like old glitched television or videotape. Lasogette NFTs have backgrounds that use psychedelic video graphics of the 90s rave era. While not all Milady NFTs have sunglasses, the below comparison shows both are distinctive in style from most other profile pictures but feel similar to each other.

Lasogette (left) and Milady Maker (right) share visual similarities.

The reason for taking such an interest in the similarities is Milady Maker’s success and the idea that Lasogette will copy it. Milady shot to fame when Floor DAO took an interest in the project and published this report. The report showed that the Milady collection was suitable for use in NFTX vaults and led to a surge in the collection’s floor price.

NFTX vaults enable Floor DAO to earn fees from the platform when the Milady NFTs they own in the vault are traded. This generates income for Floor DAO and, to some extent, helps to protect the collection’s floor price for holders.

Since then, Floor DAO has also integrated Milady with Putty Finance, an NFT options platform, and Sudoswap. I’ve written recently about how Sudoswap generates revenue for those that facilitate trading on the platform, and Putty does too, enabling those that provide either NFTs or ETH as liquidity to earn fees.

Floor DAO uses Putty to sell options to buy Milady NFTs for ETH. For doing this they receive a premium from options buyers. You can see a breakdown of the financials behind the system here. The TLDR is that if the options contracts are exercised, Floor DAO earns a premium and purchases NFTs to add to NFTX or Sudoswap to earn more trading fees. We’re almost in flywheel territory here.

Collectively, these integrations speak well of Milady and, therefore, Lasogette’s potential. Unlike most NFT projects, Milady exploded from irrelevance to popularity many months after its initial mint. Now it is a tradable, yield-earning asset actively used by various market participants. This seems to ensure that it maintains demand in the market and has a near-protected floor price.

Lasogettes may go through these integrations too, thanks to their close connection to the Milady collection. With the current floor price at around 0.1 ETH, there is a minimal downside but plenty of upside. When Floor DAO released the above report on Milady, the price rose substantially from its low of around 0.05 ETH in February to just under 1.2 ETH by mid-April. 

Milady Maker Floor Price in ETH. Source: NFTGO

For anyone looking to invest now, Lasogette is a gamble, but one that has a nice risk-to-reward outlook. They are available here on Sudoswap and OpenSea. The tweets put out by the Lasogette team yesterday could begin the process of bringing the collection to the market’s attention, which is probably the main catalyst the project needs.

Until next time

Disclosure: At the time of writing, the author held several NFTs, ETH, and other cryptocurrencies. Read our trading policy to see how SIMETRI protects its members against insider trading.