Lostpoets: The most mysterious NFT project by Murat Pak

If you’ve been following the digital art industry, you know for a fact that art that is created with artificial intelligence has been gaining popularity lately. Artists are actively experimenting with algorithms. Some write and create their own unique algorithms, some use those in the public domain. This category of digital art is not only becoming more popular every day, but also more interesting. After all, artists get a tool with limitless possibilities, which helps them implement amazing things.

And when it comes to works of this genre, we can’t help but think of the already legendary artist Murat Pak and his Lostpoets collection with the following features:

• it’s built in the form of a collectible strategy game;
• it has unique game mechanics represented by story construction for each “poet”;
• it will be “burned” and converted to Burn;
• it’s created by the most enigmatic and anonymous artist in digital art;
• it’s created by one of the richest artists in digital art;
• it’s built entirely on the Ethereum blockchain;
• it’s unparalleled in mechanics and concept.

Lostpoets Official Links

• Official site https://lostpoets.xyz
• Twitter @poetslost – over 30k followers.

What is Lostpoets?

Lostpoets is an NFT collection that is part of a unique multi-stage collectible strategy game. The collection consists of 65,536 tokens and 1,024 original NFTs.

Hello. We are Lost Poets. pic.twitter.com/ZkUoZZzUwZ

— LOSTPOETS (@poetslost) September 3, 2021

Lostpoets consists of two key elements that players will then need to play:

1. Page are the NFTs that users received when they mined the collection. They can then be converted to Poets or burned, giving a $ASH token.

2. Poets are NFTs which are surrealistic portraits of people, women or men. You can also think of portraits of people from the Middle Ages, where you can observe not very correct proportions of facial features and the size of certain parts, the nose, lips or eyes.

Among all the others, the project stands out for its game mechanism, which covers the project from the very beginning, that is, from the moment of distribution.

A total of six acts are provided in this game:

1. The prologue is an introduction to the project, a countdown to the pre-sale.
2. The first act is the distribution of the collection. Owners of 25 or more $ASH tokens get Page completely free via the airdrop. Other users buy Page for $0.32 ETH.
3. The second act is called “The Reveal”. Users can burn their Page in exchange for $ASH tokens or turn them into Poets. Page also gives users the option to rename Poets once. Users have the choice of creating Poets, or burning a Page; creating more Poets, or renaming Poets.
4. The third act is called “The Explorer”. Page can no longer be turned into Poets. The number of Poets is already set, they can only be renamed. It is up to the user to choose the name, and the remaining Pages can still be burned in exchange for a $ASH token. Collectors will also randomly receive 2 Poets Original throughout the third act. Each of the Poets in users’ wallets gives a chance for a Poets Original airdrop. As of this writing (March 24, 2023), the third act is still ongoing.
5. The fourth act. Anything can happen in this act, because no one knows what will happen next.
6. Epilogue. The project is completed.

The entire mechanics of Lostpoets is a succession of user choices that sometimes calls into question one action or another. Moreover, the Pak itself adds more intrigue, because at this point the 3rd act continues, which still provides the choice to burn the NFT, but also the airdrop goes on, so the user can keep Poets, as well as yet unburned and unused Page.

Lostpoets in numbers

• A collection of 65,536 tokens and 1,024 original NFTs was released on September 3, 2021.
• The sale of the collection was supposed to last 48 hours, but it was completely sold out in just 2 hours.
• The total profit from the sale was then about $70,000,000.
• The price of a mint was 0.32 ETH.
• Those users who held more than 25 $ASH in their wallet received Page NFT via the airdrop.
• To date, there are 48.4 NFTs in circulation, of which 28.1 are unique images.
• 3k NFTs from the entire collection are Pages which price is lower (0.02 ETH compared to 0.09 ETH, respectively) than that of already converted Poets.
• Total secondary sales exceeded 30.9k ETH (over $55M at the current exchange rate).
• Floor price is 0.02 ETH (about $35).
• Average sales range from 0.02 ETH to 0.089 ETH.
• The most expensive FULTON was sold on September 25, 2021 for 50 ETH (about $146k at the time of sale).
• Total 7,982 unique holders (16%).
• Only about 0.9% of the collection (257 items out of 28,100) are for sale, among them the offers range from 0.02 ETH to 100 ETH. This shows that almost all holders see the project as a great investment prospect and are not in a hurry to part with their assets at a lower price.

Data (including exchange rates) are given at the time of publication (March 24, 2023)

Who created Lostpoets?

The Lostpoets collection was created by the legendary digital artist Murat Pak, a well-known anonymous artist who became famous for his unique digital projects and interesting collaborations.

Murat Pak is an artist who hides his identity so carefully that there are those who doubt his existence. There is a theory that Murat Pak himself is an artificial intelligence that was created by a team of engineers. You can also find the artist’s work at Behance. Although the artist is anonymous, he may be a Turkish citizen.

The artist is best known for The Pixel which was sold at auction on Nifty Gateway for $1,355,555.

Why is Lostpoets popular?

The Lostpoets collection is not just a collection of art objects. It is a multi-stage game with its own unique mechanics. Although the artist has demonstrated a roadmap, some items remain undisclosed and only time will tell how they will be implemented.

At the moment, the value and popularity of the collection are quite high due to a number of the following factors:

• The collection is authored by Murat Pak, a well-known and one of the richest artists in digital art.
• The artist’s fame is an important factor in building value and popularity of the product.
• Murat Pak has bold and interesting projects. Lostpoets is a vivid proof of that. The project is distinguished by its uniqueness, because most of the crypto games or projects have rules and mechanics that are familiar to the audience.
• Interesting mechanics with changing the rarity of tokens, which can turn a lowcost token into some super-rare item.
• Users can dispose of their tokens and Pages as they please. You don’t have to burn and turn your projects into $ASH. You can keep them for later resale at an increased value.

Lostpoets Idea

Pak is a bold and innovative artist whose projects are unique and unlike any other. And Lostpoets is no exception. The concept of the project and its idea are built around collecting tokens from the Page series and trying to teach tokens from the Poets series to speak.

It works as follows:

• At the pre-sale stage, the author gave away free Pages to all $ASH owners who had more than 25 tokens in their wallets.
• They also got access to the pre-sale of the collection before anyone else by an hour (considering that the entire collection was sold out in 2 hours, that was a big handicap).
• The rest of the users bought Pages at 0.32 ETH as many as they could.
• In subsequent stages, users could turn their Pages into Poets and “feed” Poets to other Pages so their tokens could tell stories.

This mechanics was what made the tokens completely unique. When buying a Page, users did not know what was ahead of them and how exactly the project would develop. But at the same time, buyers tried to get more tokens to make their NFTs more rare and unique.

The idea behind the project is more about mystery and choice than interest in the game itself. Users are intrigued, which means it’s more than just a game…

Lostpoets Roadmap

As such, there is no roadmap for the Lostpoets project. But it can include the game itself and the mechanics divided into 6 acts:

1. The prologue is an introduction to the project and a countdown to the pre-sale.
2. The first act is the launch of the collection sale.
3. The second act. The user is given a choice: burn the Page or turn it into Poets.
4. The third act. Poets can be renamed, or more Poets can be created from a Page. But Pages can no longer be burned. This act is still ongoing (as of this writing, March 24, 2023).
5. The fourth act which has not yet come to pass. But it has been named “The Twist.” Perhaps it will be something unexpected for users.
6. The epilogue. The project has come to a point, but what does this mean?

Lostpoets Ecosystem

The Lostpoets project is part of the $ASH token ecosystem, but does not have an ecosystem of its own.

The $ASH token is a burn token launched by Pak. It is a token that is designed to dynamically deficit all collections that have been and will be released by the Pak artist. That is, burning NFTs gives the user the benefit and access to the artist’s collections, as burning each NFT results in greater collection value. The value, utility, and identity of the token are fully regulated by the community.

And here’s a few more words about the $ASH token:

• You can get a token for burning any NFT that is released by the artist Pak.
• You can burn an NFT on the dedicated page.
• The token itself can also be purchased on Uniswap.
• The price of burning Lostpoets NFT is almost equal to 600 tokens.
• The token is not a part of the Lostpoets ecosystem.

How much do Lostpoets NFTs cost?

The sale of the collection took place on September 3, 2021 at a price of 0.32 ETH. It supposed to last 48 hours, but the collection was completely sold out in just 2 hours. The total profit from the sale at the time was about $70,000,000. Those users who had more than 25 $ASH in their wallet received an NFT Page via the airdrop. That’s when the collection began trading on the secondary markets, where there was great demand for it. And how are things in terms of pricing?

To visualize the dynamics, we made a slice of the average price for 1 NFT:

• In January 2022: 0.5 ETH;
• In May 2022: 0.12 ETH;
• In September 2022: 0.09 ETH;
• In January 2023: 0.05 ETH.

At the moment (March 24, 2023) the floor price is 0.02 ETH. On average, the latest sales range from 0.02 to 0.089 ETH. And the total volume of secondary sales amounted to more than 30.9k ETH (about $55 million at the current exchange rate).

The Most Expensive Sales of Lostpoets

The most expensive sales are led by the following NFTs from the Lostpoets collection:

1. FULTON was sold on September 25, 2021 for 50 ETH (about $146k at the time of sale).
2. EOFORWINE was sold for 50 ETH on September 26, 2021 (about $146k at the time of sale).
3. STANFORD was sold for 50 ETH on September 25, 2021 (about $146k at the time of sale).
4. GERALDINE was sold for 49.99 ETH on September 26, 2021 (about $146k at the time of sale).

Where to buy Lostpoets?

Currently, Lostpoets can only be purchased on the secondary market, on marketplaces such as OpenSea, X2Y2 and LooksRare.

How to buy Lostpoets?

1. Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
2. Next, find the official collection using the search bar on the marketplace.
3. Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
4. Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.

Should you invest in Lostpoets?

There are several factors that make it possible to invest in the project and treat it positive:

• The low entry threshold of 0.02 ETH.
• The mechanics of the game is not fully disclosed; of the 6 acts at the moment, only the third is being completed.
• No one knows how the fourth act will turn out. It could be a pivotal event, as its title is “The Twist”.
• Opportunity to rename your Poets by purchasing Page on the secondary market;
• Poets holders can get an airdrop in the form of Poets Origin.

But first, if you’re a collector, remember that the fourth act can either disappoint or delight you. First of all, you need to analyze the NFT project yourself and make an independent and informed decision.

Opinion of NFTmetria

Lostpoets is one of the brightest projects in the NFT space and market, and it has intrigued users from the beginning of the release until today. Everyone involved keeps asking themselves “What to do next?” The project is still 2 acts away from completion, but nevertheless, it has recorded itself in the history of the most creative and unusual projects. Undoubtedly, the fourth act will amaze the users, and it seems that it will come out quite soon…