- CardanoThor's Brew
- Posts
- Weekly CNFT Brew
Weekly CNFT Brew
Your 15-minute catch-up on the CNFT world as you enjoy a nice brew. Through research and help from my community, I bring you CNFT news, market analysis, the ArtBeat, and more. Happy reading.
The Highlights
Pavia had its 3rd and largest land sale this weekend with the last 40,000 plots finding new homes. Minting has been steady and finished up early Monday. The team had promised more sophisticated drop mechanics and executed with a whitelist registration that seemed to split opinions in the community.
H.Y.P.E. Skull's Vapor event launched last week. The team attempted to make CNFT history with a smart contract-based drop and even though network congestion caused some hiccups, skull fans are excited about seeing their vapor tokens hit their wallets.
Fudbuddies experienced some genuine FUD this weekend as accusations of stolen artwork from an ETH project surfaced. The project received even more criticism for how they handled the accusation but the team has later apologized. The artist himself, Lewis, addressed the issue with design similarities on Twitter in a long thread.
Disco Solaris was perhaps the biggest drop of the week, selling out fast with over a million requests over a couple of hours. Although many are happy with their new Disco Solaris NFTs, the drop did not happen without a hitch as they fell victim to a DDoS attack.
DeadPXLz experienced an all-time-high sale on the secondary market: 150,000 ADA. Sales volume continues to surprise even the most optimistic PXL fans as people remain excited about the upcoming PXL Wars.
The story didn't end there, however. BCRC coincidentally recorded an ATH sale of the same amount, only a few hours later. Many CNFT community members are convinced that this was not a coincidence at all and voices accusing the project creators of wash trading get louder.
Further development on BCRC wash trading drama happened at the time of writing when the creator of Opencnft.io called them out an threatened to take actions with his platform as well.
Basho era is in full swing on Cardano as IOHK announced further optimization to the network. Most Cardano and CNFT users also experienced significant improvement in network speed this weekend as mempools returned to normal. The memory units limit increased at the beginning of the new epoch last night at 21:44:51.
GOAT Tribe released their 2022 whitepaper last week, outlining what lies ahead in the "year of the GOAT".
Several Successful drops happened last week. Although not a complete list, a big congratulations to the following projects for selling out or completing their minting periods successfully:
Disco Solaris
Aeoniumsky's Block 10
Future Fest
Phoenix Arena (Max drop)
Rats Dao continues its shopping spree, adding hundreds of thousands' worth of CNFTs to their community treasury. They also reached 1M ADA in secondary sales last week, a monumental milestone that places them 25th on the all-time volume list.
ADA Handle announced a partnership with MuesliSwap yesterday. This will allow this popular platform to offer handle owners a seamless user experience.
BUD Light featured an NFT in their most recent Super Bowl commercial. The brand was given the Nouns NFT as a part of their partnership with the Nouns DAO.
Happy Valentine's Day from the CNFT Comunity ❤
Her World is a new community-focused CNFT project that is not just adorable, but seems to be turning some heads when they opened their Twitter profile recently. Discord opening soon?
This Week
It might be a relatively quite week in terms of new drops compared to previous weeks, but still plenty to look forward to.
Hell Hounds by Kimosabe is a new project by this talented artist, now bringing 6,666 hell hounds to Cardano today. Holders of 3 Hell Hounds will receive an airdrop.
When: February 15th, 8PM UTC
How much: 38 ADA
How many: 6,666
Lucky Planet launches its final drop this Wednesday at 3PM UTC. With a limited supply of 299 NFTs and no whitelist, it will be a challenge securing a Lucky Planet NFT.
When: February 16th, 3PM UTC
How much: 60 ADA
How many: 299
Team Thulu is a community-focused project that brings a popular NFT style to the space in its unique way.
When: February 17th, 8PM UTC
How much: 42 ADA
How many: 4,500
Filthy Rich Horses is a utility-focused project promising a smart contract marketplace and their own token ($HAY). This understandably has the community very excited, regardless of their opinion of their NFT art.
When: February 17th, 8PM UTC (16th for pre-sale)
How much: 80 ADA
How many: 10,000
Tactical Potatoes is a smaller but fun project led by Blizzeffect & CardanoRobin. See my interview with the team on Twitch.
When: February 19th, 4PM UTC
How much: Unknown
How many: Unknown
Galactico is a unique and limited 1:1 art collection with a skull & space theme. The main character is named Galactico and takes us on an adventure through the universe. Only 19 unique pieces will be dropped.
When: February 19th, 4PM UTC
How much: 60/100
How many: 19
Market Analysis
Another relatively quiet week in the CNFT markets, except for a couple of ATH sales. For the second week running, we saw a decline in volume (-11%) and this follows the general economy and crypto sentiment, with ADA prices falling back towards the $1 mark. Pavia was this week's savior, accounting for ₳1.6 million in sales last week, and 32% of all CNFT volume in the last 24 hours.
Yesterday, Monday, floor prices fell noticeably for most projects although the exact cause is unknown. Besides Pavia, all top 10 projects are down in the 24-hour volume with ADApes leading the way, experiencing a -60% reduction.
Last week, the top 10 projects accounted for 72% of all ada volume on the market.
The numbers (last 7 days)
Total ADA volume: ₳11.65 million (-11.34%)
Total CNFT Volume: 38,131 (3.89%)
Top 5 Marketplaces
JPG.store: 8.97M, 68.6% market share (-1.9%)
CNFT.io: 1.57M, 12% market share (-9.7%)
SpaceBudz: 1.5M, 11.7% market share (+8.65%)
PXL.org: 815K, 6.2% market share (+3.4%)
Tokhun: 160K, 1.2% market share (-1.18)
Top Gainers*
MuteMutansClub (9k%)
ArtaCardano Multiverse(4.6k%)
Bizarre Starts (1.6k%)
CardanoKidz (1.6k%)
Prime Beaviz (1.2k%)
Top Losers*:
Axols (-95%)
HoskinToons (-88%)
HypeBabies (-88%)
ADANinjaz (-86%)
ADA Ape Club S2 (-84%)
Top Newcomers
Disco Solaris: ₳721K volume, ₳118 floor
Corrupted Chips (Borg): ₳191K, ₳110 floor
Ada Realm: Lazy Island: ₳12K, ₳64 floor
Top 3 sales:
*Only projects that record at least 3k(gainers)/1k(losers) over the past 7 days are included
The ArtBeat
This week went by without noteworthy news in the art scene or newly discovered artist, besides the Galactico mentioned above. Instead of forcing this section, I plan on doubling the effort for next week, focusing specifically on community artists. The section will celebrate artists that were discovered creating fan art or providing artistic value to their communities.
If you want to nominate a community artist to be highlighted, please reach out on Twitter or Discord.
Underrated
These are this week’s most underrated investment opportunities and artists. This is a highly subjective section so please DYOR
Investment Opportunity: Equine
The hype from mint day has faded and investors have moved on to other projects. Meanwhile, Fahadouken and the Equine team continue building and moving towards their long-term vision. Although I have no insider knowledge, I believe in the concept, the team, and the quality we have seen so far. The project is due a good teaser or update and I would not be surprised if prices take off once the market starts seeing evidence of a real-working product. Think what the PXL Wars progress and teasers have done for PXL floor prices and volume, for example.
Artist: Fernando Torelli
The Brazilian artist has been creating NFTs on Cardano for some time now. In fact, he is truly one of the original fine art creators on Cardano, launching his first collection on May 8th, 2021. Even more impressive, his work won one of the first Cardano art contests long before Cardano had NFTs. The contest was held within the Cardano community in 2019. Even Charles himself is a fan.
Despite this history, the artist rarely gets a mention or attention in the CNFT space, with his current collection not sold out and still minting.
Rugpull Watch
Ada Chicks are a confirmed rugpull this week:
Thor's Thoughts
"Influencers" are notorious for using their influence for their own benefit. They become powerful gatekeepers in their communities, sometimes single-handedly deciding the fate of others. If you are an Influencer in the CNFT space, don't be like that please. Use your influence to empower artists and shine a light on hard work and talent that you see around you - not just yourself.
If you are a small artist or a new CNFT project, don't ask for permission, , approval or attention from influencers. Do what you do, create your own community and valuable work, and the influencers will come to you. Without you, influencers are nothing. Without influencers, you are still an artist and a creator.
Viking Squad Updates
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:
Sponsor a Stream Marble Race (DM or send to this address)
Become an official sponsor (DM) on all channels
Follow me on socials (below)
Discord Server:
Almost 400 CNFT Vikings talk about different projects, share ideas, and have fun.
Check out CardanoThor's community on Discord - hang out with other CNFT creators and collectors.
YouTube: New videos every week. Check out today's Weekly CNFT Brew in a video format, available on my channel later today (Tuesday). In the meantime, check out the video where I list 11 reasons NFTs are here to stay.
Twitch Streaming Schedule:
Wednesdays, 8PM UTC
Fridays, 8PM UTC
Twitter: 5k followers, thank you! This week's most popular tweet: