Don't Panic

Price Rationale

Don't Panic is anchored by a clean exact-token SuperRare sale at 500 ETH on 2022-08-23, but that sale is aged, there is no supplied current ask or best bid, no OTC repeat liquidity, and the source marks the work as non-grail. The four appraisers cluster from 330 to 450 ETH; the lower liquidity and cycle views properly discount stale peak-cycle evidence, while the comparable and cultural views correctly preserve a premium for a February 2019 XCOPY 1/1 with a proven high-end buyer mark. A 400 ETH fair value sits below the stale 500 ETH exact sale and below the stronger 1000 ETH Death Dip grail benchmark, while staying above the 255-325 ETH recent non-grail support band because this exact work has already cleared materially higher.

What Caps The Price

A value closer to or above 500 ETH would over-carry the 2022 exact sale despite no live bid, no live ask, no current ETH/USD snapshot, no OTC confirmation, and no grail flag. The supplied upper benchmark, Death Dip at 1000 ETH, is explicitly stronger and grail-flagged, so it should cap rather than pull Don't Panic toward grail-tier pricing. More recent non-grail evidence such as Death by Algorithm at 256 ETH, at 315 ETH, N at 255 ETH, THE FUD at 200 ETH, and NGMI at 189.05 ETH argues against assuming the old 500 ETH mark is immediately repeatable.

What Supports The Price

A materially lower valuation would underweight the exact-token 500 ETH onchain sale, early 2019 SuperRare provenance, single-owner scarcity, and the work's memorable panic/anxiety theme within XCOPY's collector vocabulary. The source universe includes meaningful nearby or contextual strength, including Some Other Asshole at 550 ETH, Utopia at 325 ETH, Reflection at 475 ETH, and stronger non-grail capacity such as Chatbot and Chill? at 800 ETH. Those facts support a fair mark above a pure liquidation or generic cycle-discount level.