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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
The ADApes Society takes over: It was the week of the ADApes society, as their 7k collection sold out in a matter of minutes and secondary market volume took off. The project has broken the CNFT record for the most volume recorded in its first week and even recorded an astonishing ₳100k sale. The project received attention for its unique style, although criticized by some for the not-so-unique ape concept.
It was also a big week for Derp Birds, as they announced a partnership with Cornucopias, one of the biggest Metaverse projects on Cardano. The partnership is technological in nature with the Derp Bird's team sharing their multi-sig minting technology and Web 3.0 wallet integration to power the Cornucopias NFT deliveries.
Not only has Derp Birds been busy with serious, important things, but they have also released their community project: Drapes. What started as a funny idea in the Derp Discord community has turned into a fully-fledged CNFT project and a way for the Derp Birds team to test their multi-sig mint technology in a congested network.
SpaceBudz' floor price has risen almost ₳2k this last week as DAOs and collectors look to secure a stake in one of, if not the biggest blue chip project on Cardano.
SundaeSwap finds itself in a difficult situation after being sued by Cardstarter for fraud. I will not share personal opinions on the case until the courts have settled the issue, but it certainly puts a damper on the SundaSwap excitement as things could get ugly.
Did you guys know Cardano has NFTs? Another week, another meme tweet for the CNFT community.
Several Successful drops happened last week. Although not a complete list, a big congratulations to the following projects for selling out:
H.Y.P.E. announced their official date for their H.Y.P.E. Skulls Vapor: February 9th at 8PM UTC. The launch was postponed due to their development team being severely affected by Typhoon Odette in the Philippines. More about Vapor here. H.Y.P.E. continues to make history in the CNFT space, this time for being the first to do a smart contract-based drop.
Fudbuddies is a new project launched by 3 respected CNFT community members: Jaq (Degen Crypto Club), Lewis (Death Squad), and Max (Universe.25). The project is off to an impressive start with over 4.5k followers on Twitter and 6.8k members on Discord.
Watch my live stream from their unprecedented Discord opening. I was joined by all 3 creators in the chat and even received a sneak peek.
Secret Goat Society opened its Discord doors to the public and gave additional access to all Goat holders.
NFT-Maker announced the release of their whitepaper this weekend, including the introduction of their ecosystem token, $NMKR.
Pavia announced a partnership with Forms as they attempt to create a smart contract art gallery solution for their metaverse project.
Nike is filing a lawsuit against StockX for selling trademarked Nike products in NFT form. This lawsuit could set an important precedent for the metaverse and NFT space as many projects use trademarked products as a part of their collections.
This Week
AdaNinjaz started their public mint this morning. According to Cardanoscan, just over 8.3k Atsuko Clan NFTs have been minted so far. You can mint one now on their website. Although created by the same artist, the significantly different style of the NFTs is worth noting.
When: Now
How much: 48 ADA
How many: 10,000
Aeoniumsky's Block 10 was delayed for 24 hours due to some issues and will be dropped today instead, at 10PM UTC.
When: February 7th, 10PM UTC
How much: 26 ADA
How many: 500
Disco Solaris is a highly anticipated drop happening tomorrow, February 8th at 5PM UTC (whitelist). The public sale will start at 7PM UTC. With over 10k Discord members, this collection of 5777 NFTs will surely sell out fast.
When: February 8th, 5PM UTC (whitelist), 7PM (public)
How much: 55 ADA
How many: 5,777
Papertopia / Paper Society drops their remaining 5,000 to the chain tomorrow at 7PM UTC. With a smooth drop and a sellout of their first drop last week, this is project is worth keeping an eye on.
When: February 8th, 7PM UTC
How much: 59 ADA
How many: 5,000
Vapor by H.Y.P.E. Skulls start this Tuesday at 8PM UTC, as mentioned above. 2 Vapor tokens can be claimed for free on their website with Nami wallet integration for every origin series skull held. There are 30 possible vapor types that can be used to vaporize an origin series skull and create a vaporized skull.
When: February 8th, 5PM UTC (whitelist), 7PM (public)
How much: Starting at 70 ada, +10 for every 100 sold
How many: (up to) 3,000
Drapes, the Derp Birds community project will resume its minting tomorrow, February 8th at 10PM UTC. Up to 10 NFTs can be purchased per transaction.
When: February 8th, 10PM UTC
How much: 32 ADA
How many: 10k (approx. 6k left)
Futurebot Collection by Future Fest launches this Wednesday at 8PM UTC for whitelisted members. Public mint will start 24 hours later. This Benjamin Group's partner is building a virtual events platform for the music community and is now introducing 10,000 Futurebots and 3,333 Deluxe Futurebots onto the Cardano blockchain.
When: February 9th, 8PM UTC (whitelist), 10th (public)
How much: Regular: 45(WL)/50(public) - Deluxe: 140(WL)/145(public)
How many: 10k regular, 3,333 Deluxe
Borg Club Corrupted Chips drops this Wednesday at 6PM UTC. They are burnable NFTs that can be used to create a Corrupted Borg from your original Borg.
When: February 9th, 6PM UTC
How much: 90 ADA
How many: 5,000
The Good Charles drops their collection this Thursday at 8PM UTC. The project is unique in the way it aims to use Kiva, to provide financing to lower-income people around the globe.
When: February 10th, 8PM UTC
How much: 37 ADA
How many: 5,000
GingerBread Squad's Holidazed Vantine's Day drop will happen this Sunday at 6PM UTC. Although most of the collection will be airdropped to the community, approx. 375 will be available for public mint at 26 ADA.
When: February 13th, 6PM UTC
How much: 26 ADA
How many: 375
Market Analysis
It was a good week for the CNFT market, recording an impressive 18% increase in volume. Two ₳100k sales certainly helped (Pavia & ADApes) as ADApes society set a new record for weekly volume immediately following mint. This comes with a generally more optimistic sentiment in the crypto markets and a nice bounce in $ADA price.
JPG.store continues its marketplace dominance, now enjoying almost 73% market share compared to cnft.io's 11.5%. Strangely enough, the SpaceBudz marketplace alone nearly equals cnft.io over a weekly timeframe (11.1%) and more than doubles it on the 24-hour timeframe (24%).
It's not only SpaceBudz that's seeing a drastic rise in volume and floor prices. Several other projects are worth mentioning in that respect, including The Wizards, OG Bears, Ghostchain, Worlds Within, and Derp Birds.
The numbers (last 7 days)
Total ADA volume: ₳11.59 million (-25.94%)
Total CNFT Volume: 36,446 (4.46%)
Top 5 Marketplaces
JPG.store: 8.82M (-18%), 70.5% market share
CNFT.io: 2.59M (-42%), 21.7% market share
PXLz.org: 383K (+71%), 3% market share
SpaceBudz:354K (-46%), 2.8% market share
Tokhun: 305K (-65%), 2.4% market share
Top Gainers*
Worlds Within (535%)
ADApes Society (472%)
Serum-X (404%)
OG BEars (403%)
Rebellion (348%)
Top Losers*:
Bitfins (-95%)
CCVault.io (-90%)
Yummi Universe (-86%)
Raging Teens Clan (-86%)
Clay Mates (-85%)
Top Newcomers
OG Bears: ₳256K volume, ₳95 floor
Project 2090: ₳199K, ₳74 floor
The Wizards: ₳130K, ₳97 floor
Top 3 sales:
*Only projects that record at least 5k volume over the past 7 days are included
The ArtBeat
Over Exposed is a new project launching on Cardano soon, officially announced during my stream with Jeff. The project has received much-deserved attention for the incredible quality of its artwork, both its static PFPs and video teasers.
Shorty Verse by ohh_meed is a relatively unknown artist in the CNFT space. He has been getting praise for his digital comic character NFTs and good-quality art. His work has been stealth drop during the night up to this point, but you can find some for sale on JPG.store.
Jesus 2 is a unique project led by Jesse Moynihan, a cartoonist who contributed to the famous Adventure Time television series.
Underrated
These are this week’s most underrated investment opportunities and artists. This is a highly subjective section so please DYOR
Investment Opportunity: Society.25 by U25
Ranked #77 in all-time volume, society.25 is a project that feels underrated in the market. The project has held a floor price at around ₳50 for a month now and has proven itself to be run by a good team. On a recent Twitch stream, they described their new team additions, going full-time, and collaboration plans so it seems like there is much more to come from this project. I feel like their work behind the scenes will come to fruition in the near future, which will be reflected in the floor prices.
Artist: Ascender (H.Y.P.E.)
The multidisciplinary artist is the creative force behind H.Y.P.E. Skulls (HS) and the owner of OKperfect creative advertising studio. The quality of his work is often not recognized in the CNFT space and is perhaps limited to people's interest in the HS project. But besides being the first to offer 3D animation of this quality in the space, he's also been nationally recognized with awards for his work for Warner Brothers, DC Comics, and HBOMAX, to name a few.
Rugpull Watch
No confirmed rug pulls this week 👍
Thor's Thoughts
It can be easy to criticize CNFT creators when things go wrong. Whether it's NFT-Maker Pro's services, bad minting mechanics, NFT metadata errors, or questionable marketing methods. I've been guilty at pointing fingers myself when frustration gets the best of me.
But let's remember that most of these mistakes are made by people who are attempting to create something in the very early stages of CNFT history. We need to celebrate those who are creating - not just consuming for their own benefit. We need to celebrate innovation and creativity, even when it fails.
Let's keep this in mind the next time we are about to pass our judgment publicly and introduce negativity into the CNFT community. Captain hindsight is the lamest superhero out there.
Viking Squad Updates
Discord Server:
We breached the 350 member barrier on Discord! Come join the CNFT conversation.
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:
Twitch Streaming Schedule:
Tuesday 8PM UTC: CryptoDino
Friday, 8PM UTC: TBD
Twitter: 4 is my favorite number and we officially reached 4,444 followers! Most popular tweet of the week