The Useless

Price Rationale

The Useless is a March 2019 SuperRare XCOPY 1/1 with clean exact-token history but no recent validation: 0.6 ETH in April 2019 and 5.0 ETH in December 2019 to the current long-term holder. The supplied nearest lower peer, 10th Floor Ethics, sits very close to that December 2019 level at 4.5 ETH, while the broader inlined early-2019 XCOPY universe shows large dispersion, including stronger non-grail works with later triple-digit ETH sales. I weight the liquidity and cycle appraisals most heavily because there is no current bid, no OTC sale, no grail flag, and the 1800 ETH ask is stale owner aspiration, but I keep the mark above a pure liquidity exit because early XCOPY 1/1 scarcity and cohort repricing are real. A 105 ETH fair value sits between the 85-95 ETH defensive views and the 112 ETH comparable-sales view, while treating the 155 ETH cultural view as a plausible upper negotiation case rather than the midpoint.

What Caps The Price

A materially higher mark would lean too much on broad early-XCOPY scarcity and the stale 1800 ETH ask. The token has no post-2019 exact-token sale, no current best bid, no OTC history, and is not flagged as a grail or known market landmark in the supplied evidence. Stronger nearby-vintage works with 128-256 ETH outcomes have better recent execution or stronger supplied salience, so The Useless should not be pulled fully into that tier without fresh demand evidence.

What Supports The Price

A much lower mark would over-anchor to the old 5 ETH sale and ignore the post-2019 repricing of scarce XCOPY SuperRare 1/1s. The work is early March 2019, has 1/1 supply, clean provenance, and has been held by the same collector since 2019. The supplied lower peer supports its original tier, while the broader universe shows that non-grail early XCOPY works can command meaningful modern premiums even when liquidity is thin.