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HOW TO GRADE JACK BUTCHER’S CREDITS What ~13K sales tell us + some admittedly dubious price guesses If you’re just tuning in... Jack launched an open edition through X Money You sent $8, include an ETH address & the transaction ID became the seed for one Credit The ID becomes four 8×8 CMYK grids, payment time selects the layers & literal 8s register visually Final supply: 122,154 Credits Each Credit is a complete artwork, but collectors can also burn 80 to assemble one Statement Statement assembly opens eight days after launch with a maximum possible supply of 1,526 ━━ WHERE THINGS STAND ━━ When I last checked, OpenSea had indexed: ▷ 60,865 of 122,154 Credits ▷ 12,621 sales ▷ 507Ξ volume ▷ 0.0318Ξ floor Less than half has arrived, so this is very early price discovery OpenSea ranks are basically useless while indexing continues Grade the traits, not the current rank ━━ MARKET SIGNALS ━━ EIGHTS are the clearest rarity signal ▷ Five Eights: 1 ▷ Four: 26 ▷ Three: 398 ▷ Two: 4,238 ▷ One: 27,996 ▷ None: 89,495 The first ~13K sales show a clean price ladder: ▷ Four Eights: 1.50Ξ median ▷ Three: 0.28Ξ ▷ Two: 0.062Ξ ▷ One: 0.0353Ξ ▷ None: 0.035Ξ The Five-Eights one-of-one is unlisted with a 4.5 WETH offer Three Four-Eights sales have cleared at 1Ξ, 1.5Ξ & 1.81Ξ One means little financially so far Two gets attention Three gets serious Four or Five is trophy territory Outside EIGHTS, two traits show a repeatable premium: ▷ Extreme Weight: 0.068Ξ median, 1.02% supply ▷ Loose Print: 0.058Ξ median, 0.80% supply Four Plates / full CMYK looks great, but its 0.037Ξ median is barely above the broad 0.0353Ξ market ━━ MY GRADING SCALE ━━ S+ | Five Eights The one-of-one S | Four Eights Only 26 exist A | Three Eights 398 exist with early sales reaching 0.8Ξ B | Two Eights, Extreme or Loose Stack two and I’d consider moving it up a grade C | Drift, CMYK or a genuinely great composition COMMON | Zero or One Eight with common Print and Weight traits Still complete artworks & still raw material for Statements Visual quality matters inside every tier ━━ SPECULATION ━━ This is unreliable, probably wrong & obviously the fun part My short-term guess is the common floor gets messier before it gets cleaner Another ~61,300 Credits must arrive, so commons could hit 0.02Ξ–0.03Ξ as large allocations land Then Statement assembly becomes the counterforce At a 0.0318Ξ floor, acquiring 80 Credits costs roughly 2.54Ξ (~$7,000) before gas If collectors want Statements, cheap Credits become raw material My admittedly optimistic ranges once distribution settles, assembly opens, and the quest to collect 80 grows: ▷ Commons: 0.05Ξ–0.10Ξ ▷ Two Eights: 0.10Ξ–0.20Ξ ▷ Extreme or Loose: 0.15Ξ–0.25Ξ ▷ Three Eights: 0.50Ξ–1Ξ+ ▷ Four Eights: 2Ξ–5Ξ+ ▷ Five Eights: wherever one determined collector decides it belongs The Five already has a 4.5 WETH offer Since everything revolves around 8, someone will surely try to manufacture an 8Ξ or 8.88Ξ headline Statements are harder to guess With an 80-Credit replacement cost near 2.54Ξ, a 3Ξ–5Ξ opening conversation feels obvious But original participants could have acquired 80 Credits for only $640 Some will think in replacement cost, others in cost basis That gap should create absolute chaos when assembly opens So it honestly could be that I’m being way too conservative on such an iconic and historic collection My bull case is the market splits into three lanes: ▷ Commons priced around Statement demand ▷ Rare Credits priced as standalone art ▷ Statements priced as the scarce assembled layer The bear case is simple Supply overwhelms buyers, too few burn 80 & prices drift toward the original $8 entry, but I doubt that happens Way too early to know where it settles But the first receipts are already telling us where collectors are looking Good luck everyone, and have fun collecting these beauties