Weekly CNFT Brew

May 10, 2022

Your 15-minute catch-up on the CNFT world as you enjoy a nice brew, sponsored by QUEEN ADA stake pool and CNFT Jungle. Through research and help from my community, I bring you CNFT news, market analysis, and more. Happy reading.

CNFT Espresso

Your 15-second TL;DR of the Brew:

  • Crypto markets are red! $ADA falls to $0.6 at time of writing.

  • Eternl launched a mobile dApp. JPG.store already launches mobile trading.

  • P2E giants Mocossi & Yummi have a big week, launching their land sale (Mocossi) and $Yummi airdrop.

  • Clay Nation founders recognized in Forbes 30Under30 list

Multiple successful drops happened last week:

  • 🔥 Safari Squad (₳652K volume)

  • 🔥 Claypez (₳581K)

  • 🔥 The Seal Society (₳517K)

  • 🔥 Ugly Bros (₳512K)

Exciting upcoming mints include:

The Highlights

Crypto markets are red. The two largest cryptocurrencies, BTC and ETH have tanked today and as usual, other coins followed. This includes ADA, which has dipped to approx. $0.6 at the time of writing. The overall pessimism in the equities markets continues to drive crypto prices down and some analysts are predicting a further drip towards the low 20Ks for BTC.

Eternl launched the first dApp connector on mobile, which allowed JPG.store to be the first to allow mobile NFT trading through a marketplace. Please note that using this dApp connector will add a 0.1% fee on top of the normal blockchain and JPG.store fees.

CNFT.io made their big reveal today, announcing the V3 of their marketplace and $CNFT rewards. This version comes with drastic improvements in UI and it will be curious to see if they can improve on their market share moving forward, which currently stands at around 0.8%.

It's a big week for P2E giants Mocossi and Yummi. Mocossi has created a lot of interest in their upcoming land sale, with over 26,000 wallet addresses registered. The land sale will begin this Wednesday for whitelisted wallets.

Yummi Universe will take a snapshot and airdrop $Yummi token later today. See the table below for how much $Yummi you can expect. Naru staking will go live this Sunday.

Clay Nation creators Lenna and Issy were recognized by Forbes on their 30Under30 list, in the Arts and Culture category. The power duo has taken the Cardano NFT space by storm and are being internationally recognized for building one of the strongest collections in the space. They have worked with Good Charlotte, Snoop Dogg and his son Champ, and recently took a big step into the Metaverse with their Pitches launch.

The CNFT Community received a painful reminder to be safe and use hardware wallets for their NFTs and crypto. A community members shared how all of their assets were stolen after his PC was hacked, compromising his seed phrase.

Several projects launched and successfully sold out last week. A huge congratulations to the teams listed below. The surprise of the week must go to The Seal Society, who have seen over ₳500K in secondary market volume since its drop.

Zombie Chains has opened up their claim period for Set 2 of their trading cards. If you have a Zombie Chains and Zombie Hunter in the same wallet, you can now claim your trading cards for free (only dust).

Happy Hoppers gave a sneak peek of their upcoming Generation 2 collection, which seemed to impress most fans. Holders of Hoppers will be able to stake it with other ingredients to create a Gen2 hopper, influenced by their area (Junkyard, Deep Forest, Human Village). See their Litepaper for more details.

What does JRNY Crypto know that we don't? His suggestion to add Cardano to OpenSea's platform received a lot of attention in the CNFT Community this week.

The first stablecoin on Cardano, Djed, launched last week. The algorithmic coin acts as an autonomous bank and is developed by IOHK and Coti.

This Week

This section includes all the drops that I’m excited about this week and feel comfortable recommending. In other words, this is a curated list. To see a more complete list, check out wencnft.com.

Mocossi is the first major drop happening this week. The land sale has already created a lot of demand judging by Wl wallet registrations. With 8.3K plots already allocated towards the WL sale and giveaways, a sellout is almost a foregone conclusion.

When: Wednesday, May 11th (WL) 3PM UTC. Thursday, May 12th (Public) 3PM UTC

How much: 89 ADA (ITO1), 99 (ITO2), 109 (public)

How many: 10,000

Adanauts has been receiving a lot of interest and hype recently as people look forward to their drop this Friday. Their Antidotes & Serums are currently trading at a floor price of 675 ADA, which says a lot about the current interest in the project.

When: Friday, May 13th (WL), Saturday, 14th (public) 4PM UTC

How much:60 ADA (WL), 80 ADA (public)

How many: 7,777

Introverts is another project that has received a lot of attention recently, not the least because of their impressive collaborations leading up to their drop this week. One of these collabs was the one below, where the team drew a custom Viking Squad trait into their collection.

When: Friday. 5PM (WL), 10PM (Public)

How much: 58 ADA

How many: 6,858

Salty Seagulls Society has received some attention this week, both good and bad. On the negative side, they have been criticized for copying The Ape Society. On the positive side, they have built up some hype and the secondary market rarely seems to be affected negatively when projects liberally take inspiration from others.

When: Saturday, 12AM UTC (WL). Sunday, 12AM UTC (Public)

How much: TBD

How many: 7,777

OnBoard NFT is an exciting project with the mission to onboard artists to the Cardano NFT space. Along with the artist, the team is led by Connoisseur and Salad, two large CNFT influencers.

When: Sunday, 6PM UTC

How much: 88 ADA

How many: 8,888

Ada

Sugar Frens is a relatively unknown project to most and the only project with fewer than 1k followers on Twitter. However, I'm confident that they will deliver on their roadmap and the collection itself looks tasty. Despite the lack of hype, with only 2k supply, they still have a chance to sell out and get more attention post-sellout.

When: Monday, 9PM UTC

How much: 42 ADA

How many: 2,000

CNFT Radar

Here is where I list all projects that are not minting this week but are already on my radar. New additions in bold.

The ArtBeat

Market Analysis

As mentioned in the previous issue, it's not surprise seeing the CNFT market cool down this week after several consecutive big volume weeks with big projects. There have been some pleasant surprises this week, such as The Seal Society, but the overall project hype seemed comparatively subdued. Claypez led the way with just over ₳600K traded on the secondary market but that still falls short of Over Exposed, Ape Society Cabins, and a few other previous mints who had traded over ₳1M in the same time.

Last week's Safari Squad has made a strong entry into the CNFT space and took the overall #1 for volume over the past 7 days, according to CNFTJungle.io. Chilled Kongs, Claypez, Smooth Yeti Snowmobile Parts, and Pitches by Clay Nation round up the top 5.

The collapse of crypto prices doesn't help matters as BTC reaches $30K and ADA goes all the way down to $0.6. The crypto market continues its negative downtrend and that pessimism bleeds over to the CNFT markets.

Volume is down 18% from last week with number of sales about the same, meaning average prices and floor prices are declining.

The numbers (last 7 days)

  • Total ADA volume: ₳12.3 million (-18.2%)

  • Total CNFT Volume: 52,941 (+2%)

Top 5 Marketplaces

  1. JPG.store: 11.9M, 95% market share 🏆

  2. SpaceBudz: 293k, 2.4% market share 🥈

  3. PXL.org: 135K, 1.1% market share🥉

  4. CNFT.io: 101k, 0.8% market share

  5. Epoch.art: 30K, 0.3% market share

Top Volume Gainers (%)*

  • ADA Apocalypse 🥇

  • Aeoniumsky Block 10 🥈

  • Humbits 🥉

  • Adanauts

  • Cryptoknitties

Top Volume Losers(%)*:

  • Dbag Mfers

  • CryptoDino

  • Derplings

  • Mekanism (OE)

  • BrightLeaf Laboratories

Top Newcomers

  • Safari Squad: ₳706k, ₳98 floor

  • Claypez: ₳626K volume, ₳125 floor

  • The Seal Society: ₳591k, ₳300 floor

*Only projects that record at least ₳2k over the past 7 days are included

Underrated

These are this week’s most underrated investment opportunities and artists. This is a highly subjective section so please DYOR

Some of my previous blue chip picks are still relevant and would be my choice today if I hadn't picked them already, including Clay Nation, Yummi, and others. Check out my undervalued picks from previous issues.

Investment Opportunity: False Idols

False Idols has received a lot of attention since they entered the scene, reaching a peak around their mint event a couple of weeks ago. Following the that drop, floor prices declined to 60 ADA but has now stabilized around this mark for a while despite the difficult environment.

It's a project that seems to strike a good balance between good NFT design ("art") and the typical degen features that appeal to the market. For an entry price of 60 ada, I think this could be a good pickup in the medium to long run.

After talking to the team on stream, I'm confident in their commitment to the project and ability to keep the interest high. They have booked one of the largest areas at CNFTCon, which is just another indicator of their commitment to stay in the space in the long run.

Art: AdaDigies

There are several high-quality 3D collections in the CNFT space. Some get proper recognition and hype (i.e. Over Exposed) while others continue to stay under the radar (i.e. Vudu Brigada). AdaDigies falls into the latter category, especially after their most recent S4 drop. Not only is the collection high-quality 3D and AR capabilities, but it's also very creative and unique. Considering all of that, it feels strange that you can pick up the NFT below for only 29 ADA right now.

The art of generating hype in the CNFT space is mysterious but quality should be recognized no matter the floor price.

Rugpull Watch

The following projects have been confirmed as rugpulls:

Thor's Thoughts

Playing the long game

It's easy to let the FOMO get to you when you miss out on the latest pump project, whether it's Dbag Mfers last month or maybe the Seagull Society this month. This is why it's important to have and understand your own strategy.

Are you trying to maximize your profits in the short run or are you investing in the CNFT space for the long run? This is the most basic question to ask yourself. What will pump in the short run doesn't always correlate with long term success. We have many examples of that, including Tiger Society, Cocolocos, and others.

There are no guarantees, but my focus will always be on finding projects that have good teams that are committed in the long run. I look for hints about their long-term vs short-term focus in their actions:

  • Do they focus too much on floor price?

  • Do they artificially inflate prices?

  • Are they doxxed?

  • Are they participating in and contributing to the general CNFT Community?

Even the small things, such as booking a booth at CNFTCon is a great sign for long-term commitment.

Will all committed, hard-working, doxxed teams succeed in the long run? No. Will some short-term focused projects moon? Absolutely. But if you know and feel comfortable with your own strategy and outlook, you can keep the FOMO to a minimum. Even the most successful projects who don't meet my personal criteria for long-term commitment might just start showing signs of weakness in the long run. Can you guess which floor price chart is short-term focused (BCRC) and which is long-term focused (Clay Nation) below?

Viking Squad Updates

Discord Server:

Over 1,000 Vikings talk about different projects, share ideas, and have fun. Special thanks to the following Vikings for contributing to this week's issue:

YouTube: Up to 3 new videos every week. Weekly CNFT Brew is coming out in the next 24 hours.

Support my work:

If you'd like to support what I do and help me build a new career in the CNFT space, please consider the following:

  • Individual: Twitch Donation/Tip/Sub

  • Projects: Sponsor the Viking Games with prizes (DM or send to $vikinggames)

  • Others: Join CNFT Jungle and QUEEN ADA staking as an official sponsor on all channels. (DM)

Twitch Streaming Schedule:

  • Fridays, 7PM UTC - The Viking Games!

A huge congrats to Sascha for his second consecutive Viking Games victory. He's either incredibly lucky or skilled.