NFT Brew #42

Your weekly dose of NFTs, crypto, and web3

Author

Thor Sverrisson
April 05, 2023

Your weekly overview of the NFT space as you enjoy a nice brew, sponsored by QUEEN ADA. To access the Premium Brew, become a CT793 member. Due to its length, the full version of the newsletter can only be read online.

News

Chilled Kongs

Chilled Kongs were the focus of attention in the Cardano NFT space last week. They sold out despite some minting issues, started airdropping their Magik Shrooms tokens, and received plenty of FUD and criticism.

JPG Store, the project's minting partner, experienced failed transaction issues, causing collectors to believe that the collection was sold out when it wasn't. After several premature "sold out" announcements from the community, it sold out just a few hours after the mint started.

Celebrations were dampened by some criticisms regarding the artwork, co-founders buying activity, and secondary market performance. 

April Fools Posts

The Cardano NFT community had fun with some April Fools posts on Twitter.

The Ape Society Launches Merch

Cardano's largest NFT project launched its merch crafting feature yesterday, starting with its deck of cards.

Goofy Gophers Purchases 146 Crypto Miners

Soon after the project minted out its 8,888 NFT collection, GGMC purchased 146 next-gen crypto miners as per the project's roadmap. 

GGMC has been one of the few projects, if not the only one, performing well on the secondary market post-mint and retaining a floor price above the mint price. 

CNFT Tools Introduces Unique Whitelist Experience

The popular NFT rarity and tools service provided more details on their upcoming Toolheads collection, including a design preview. The most exciting part of the announcement was their advanced gamified whitelist mechanism, allowing community members to earn a spot by participating in various missions and games on different platforms.

Old Money Puzzles

Old Money began minting its "MX" collection, a sequel to their original $0.2 Bill collection. However, the mint was anything but typical, and many have described it as one of the best minting experiences created in the Cardano NFT space.

To mint an NFT, collectors were led on a digital journey that involved solving several puzzles.

New FUDS Cardano Improvement Proposal

Adam Dean, a known developer in the Cardano NFT space and a team member of various projects such as Knitties and cNFTcon, released more information about his FUDS CIP. The proposal details specifications allowing on-chain projects to publicly publish financial information that has historically been hosted elsewhere. Standards in this area could potentially improve trust between projects and their communities.

Projects Moving Away From Cardano

As demand reaches new lows in the Cardano NFT space, projects are increasingly looking to expand or move into other blockchains. 

New NFT Marketplaces Grow

Newcomers Plutus.art and Flipr reached important milestones this week. Plutus.art crossed 6k listings, while Flipr had over 2% market share after being added to all major analytics platforms.

Iceberg Labs Gives Alpha Access to AI Product

Arctic Alpha, the co-founder of Iceberg Labs, announced that his company is giving beta access to holders of Chilled Kongs and Mallard Order NFTs. Their tool uses AI to determine the market value of your NFTs.

Magic Eden and MetaMask Coming to Cardano?

Although an April Fools prank, Magic Eden, a major Polygon and BTC Ordinals marketplace, seems to be thinking about Cardano.

According to BluCollarCrypt0, head of business development at Virtua, Metamask could add Cardano to its services soon.

Book.io iOS App

Book.io, a popular e-book and audiobook publisher on Cardano, has launched its iOS app, following the Android release earlier this year.

Chilled Kongs Wins Twitter

Chilled Kongs received the most mentions on Twitter last week, followed by Mallard Order and JPG Store. 

Cardano News

Latest Cardano updates and developments

Charles Hoskinson shared a summary of the most recent development update from IOK.

SundaeSwap released their V2 UI on testnet. 

Aada announces P2P lending for their upcoming V2, utilizing smart contracts from Aiken.

dcSpark introduced Wallet OneBox, an open-source tool that allows developers to easily set up all backend tools required to run a Cardano wallet backend. 

Astarter is close to launching their DEX, with the first round of closed beta tests scheduled for April 11th.

Hydra draws nearer, as discussed in the video below:

L4VA, an upcoming lending platform on Cardano seeking to provide "instant automated liquidity for NFTs," released its whitepaper.

FluidTokens 2.0, a popular NFT lending platform, launched their V2.0 dApp.

Genius Yield, a Cardano DeFi platform, releases Atlas, an open-source Plutus Application Backend (PAB).

Milkomeda is releasing an important feature next month, allowing every Cardano user to use Ethereum Virtual Machine (EVM) contracts directly in their wallet. He predicted that this would instantly make Cardano one of the largest EVM chains by user count. 

Cardano Foundation is collecting feedback from Alpha Testers on their upcoming Blockchain Education Program.

Paima Studios shared Milkomeda's optimism on Cardano's adoption, focusing specifically on gaming. They are building an L2 gaming chain for on-chain games.

Exodus, a large crypto wallet, has added Cardano to their services.

Cardano DeFi Summer Incoming?

Cardano NFT Project Updates

BlockOwls continues to release sneak peeks of their upcoming Jabi-Z collection. Tune into my stream this Wednesday for an interview with the team.

Chainlobby, an upcoming NFT social platform, will launch its Beta version later this month.

Bajuzki Studios, the creator of Vampire Invasion, introduced Kart Races in the Vampire Playground game they are developing.

Derp Birds launched their Power Score system. A character's power score will make them more effective in an upcoming game called Scavenge.

Danketsu is airdropping their $NINJAZ tokens to holders this Thursday.

ADA Inmates released information about their upcoming Cell mint

Mutants announced their mint date, which will happen on April 28th.

KWIC released its March update, which gave an overview of everything the team accomplished last month. Perhaps most notably, co-founder Jeddson is now working full-time on the project. Read the full Medium article below.

Blaad Planet, one of the most popular 1:1 artists on Cardano, celebrated his first anniversary as a Cardano NFT artist. 

Filthy Rich Horses teamed up with The Ape Society's Factory as they move to revive the project.

DeadPXLz, one of Cardano's largest NFT projects, added a Social Lead to their team.

Proxies, is entering the BTC Ordinals space with an upcoming Necklace NFT mint. 

Fettuccine, a popular Cardano NFT influencer and the creator of ABHS and DHS, disappeared from Twitter recently, only to reappear earlier today. Apparently, this was a part of his project's larger community event and lore.

Wild Ones announced details for their upcoming mint.

Ugly Bros revealed more sneak peeks at their development progress, this time showing the ability to change the character model.

Secret Goat Society, one of Cardano's largest investment funds, is entering the BTC Ordinals space by investing in The Mallard Order.

Web3 News

Doge Becomes Twitter Logo

Twitter updated its website logo to the Dogecoin logo, causing a significant boost in price from 

Doge Price: Guess when Twitter updated the logo

Doge Price: Guess when Twitter updated the logo

Are Banks Insolvent?

Balaji, now infamous for his $1M BTC in 90 days bet, has been one of the loudest voices pointing out the current fragility of banks in the U.S.

Despite some optimism in the market, many experts are concerned with the overall state of the market and consider a major capitulation event a possibility in the near future.

Elizabeth Warren

The controversial US congresswoman continues to fight crypto in her latest interview. 

McDonald's Layoffs

Even McDonald's is cutting back in this bear market, so crypto degens might have to develop a different plan B.

Twitter Reveals Its Source Code

Elon Musk announced that Twitter's recommendation source code is now open-source. 

Doodles Launches Genesis Box

One of Ethereum's largest NFT projects launched the highly anticipated Genesis Box. The collection contains a large bundle of digital wearable items and is an important part of their customization plans.

Tezos Launches Mumbai

Charles Hoskinson congratulated the Tezos team on their 13th protocol update

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Minting

These projects are personally curated by CardanoThor or other trusted NFT Vikings. However, this is not investment advice, and we always encourage you to do your own research. For CardanoThor's personal opinions and insights into how much he will mint, read the Premium Brew. *All times are shown in Eastern Time.

Currently Minting

Fort Gotten

Old Money

Bored Claude Parody Club

Upcoming Mints

Club Mars

Club Mars abandoned their original plans to mint their collection last weekend. They are now planning on doing a free mint to pass holders.

📆 Date: NOW💸 Price: ₳3.5📦 Supply: 4,000🐦 Twitter

Whiskees

This unique collection offers ownership in a whiskey cask investment operation.

📆 Date: April 6th, 4PM (OGs)- April 6th, 7PM (WL)- April 7th, 4PM (Public)💸 Price: $50-1k (tiered)📦 Supply: 555🐦 Twitter

The Frog Collective

Possibly the largest mint of the week, The Frog Collective boasts impressive NFT design and is working on an NFT portfolio app named Frogfolio. They will be hosting a poker tournament with several partners this Friday.

📆 Date: April 8th💸 Price: ₳149📦 Supply: 6,000/10,000🐦 Twitter

Market Update

Cardano

It was another slow week for Cardano NFTs, despite some recently minted projects boosting volume. Buyers remain around 1,000 per day, well under the peak of around 4,000 at the beginning of the year. Out of the five recent large mints, only 1 (Goofy Gophers) has achieved a floor price above the mint price.

Even though we might not have reached the bottom yet, I remain optimistic and confident that the Cardano NFT space will adapt and thrive in the long term.

Volume: ₳4.4M (-12%)NFTs Sold: 18,640 (-12%)

Top 10 Projects

Magic Kongs accounted for approximately 14% of the total volume last week. Goofy Gophers, Stag Alliance, and Bored Ape Cardano Club are the other newcomers on the list. 

1️⃣ Magic Kongs- Volume: ₳587K - FP: ₳2292️⃣ Goofy Gophers- Volume: ₳437K (+44%) - FP: ₳462 (+32%) 3️⃣ The Ape Society - Volume: ₳300K (+24%) - FP: ₳5,950 (-4%) 4️⃣ EarthNode- Volume: ₳214K - FP: ₳79,000 (+5.4%) 5️⃣ Clay Nation- Volume: ₳145K (+40%) - FP ₳#2,390 (-4%) 6️⃣ Chilled Kongs - Volume: ₳110K (-39%) - FP: ₳650 (-27%) 7️⃣ Stag Alliance - Volume: ₳107K (-87%) - FP: ₳129 (-21%) 8️⃣ The Mallard Order - Volume: ₳92K (+55%) - FP: ₳754 (-3%) 9️⃣ Cornucopias Land Sale- Volume: ₳80K (-37%) - FP: ₳139 (-13%) 🔟 Bored Ape Cardano Club - Volume: ₳74K (-68%) - FP: ₳148 (-1%)

Top Sales

Top Sales description

1️⃣ EarthNode550: ₳75K2️⃣ EarthNode450: ₳71.5K3️⃣ EarthNode945: ₳67.5K4️⃣ DiamondPass182: ₳13.9K5️⃣ CCD1EP00033: ₳13.5K6️⃣ adapeDamasWright: ₳13K

Other Markets

The overall sales volume is up, and generally, the NFT industry had a good week. Only Solana, ImmutableX, and Cardano experienced a decline in volume these last 7 days, with BNB nearly overtaking Cardano as an NFT chain.

  • Ethereum: $114.7M (+30%)

  • Solana: $21.5M (-13%)

  • Polygon: $12M (+47%)

  • ImmutableX: $6.5M (-10%)

  • Arbitrum: $3.7M (+144%)

  • Cardano: $2.8M (-3%)

  • BNB: $2.4M (+35%)

Weekly Dose of Charles

Tweet of the Week

Pic of the Week

Meme of the Week

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Viking Community Tweet of the Week:

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