seems reasonable to disregard the nft as a depositor if you're just farming rewards.
but I imagine once farming slows down we start to see more nft listings.
EV on any deposit that's not the top is positive, but barely. May as well deposit to aave.
however barely positive EV as a way to list an NFT still makes sense.
Assuming you're not getting the top listing bonus:
- backing a low value NFT with 100 eth, you expect a return of roughly 3 eth profit (and your nft back)
- backing a grail nft worth ~100 eth with 100 eth, you expect a return of approximately 3 eth, with the added potential of effectively selling the nft for ~100 eth.
The difference is subtle but I think it tips the scale in favor of backing nfts with fair valuations. At least I hope so.