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Weekly CNFT Brew
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, the ArtBeat, and more. Happy reading.
The Highlights
The CNFT bull market is back on. Things happen fast in this volatile space, but judging by recent data, it's safe to say that a lot more optimism has entered the market.
Several high-profile drops happened in the past 7 days:
Havoc Worlds sold out quickly and saw some impressive volume and floor prices on the secondary market. The mint was successful despite a DDoS attack on their website.
Yummi Universe dropped their Spring Naru collection, which was generally well-received. At the time of writing, 1990 NFTs were minted with 1.86 in total volume traded and floor prices of 220 ADA.
Unwanted Ones flew under many people's radars but managed to sell out successfully nonetheless and establish a floor price of 45 ADA at the time of writing.
False Idols sold out in a matter of seconds today and is currently seeing a lot of trading volume.
Phoenix Arena ended their 48-hour mint period, ending up selling 4415 NFTs. Staking is already live for their Diver NFTs.
Mad Dog Car Club was finally able to resolve their minting issues, thanks to some help from the Jungle team. The project ranks #2 in 7-day volume with 1.6M traded.
Dead Rabbit Resurrection Society was perhaps the biggest surprise of the week, selling out of their 6,550 collection fast and taking #1 spot in terms of trading volume (1.8M).
Lending Pond launched this week and announced a partnership with Sundae Swap soon thereafter. This innovative solution allows you to borrow/lend Cardano tokens using NFTs as collateral.
PAVIA gave an exciting update yesterday, giving people more information on what they are working on. See details in the tweet below 👇
DeadPXLz had an all-time high sale yesterday, a whopping 75K sale of a rare wolf. Congratulations to both buyer and seller.
Chilled Kongs also had an all-time high sale of an even higher 135k this week. This mind-boggling amount even surprised Charles himself.
Growing Pains rebranded to Pains and released a new website, roadmap, and information about their new collection "ParaPains". ParaPains will be minted on Cardano but will also release some of its collection on Ethereum.
Introverts launched their website this week, including information on their mint date (May 13th), roadmap, and other useful info.
Snoop Dogg showed the CNFT community some more love, this time on Instagram when he shared a tribute manga from ADA Ninjaz.
Clay Nation reached 50k followers on Twitter and to my knowledge, is currently the second-largest project on Twitter, only behind Pavia.
JPG.store celebrated 4/20 by reaching an impressive milestone: paying 4.2m in royalties. They also announced that their price history feature is now live on their platform.
CNFT.io showed some signs of life with their most recent announcements. They are working on landing pages for creators and getting ready for another big announcement.
Derp Birds announced their next mint, the PRED invasion, to take place on the 26th this week. The Derp community is understandably excited and even their secondary project, Derp Apes, saw a boost in volume following the announcement.
AdaSwap received some criticism for how they handled their NFT drop and aftermath this week. The community took issue with them blaming the Cardano blockchain for their problems.
Coinbase announced the launch of their NFT marketplace in beta this week. Although only integrated with Ethereum at this point, it is undoubtedly an exciting step towards NFT mass adoption.
This Week
This section includes all the drops that I’m excited about this week and feel comfortable recommending. To see a more complete non-curated list, check out wencnft.com.
BluBots is a story-rich 3D-style NFT project. The style and quality of this collection caught my attention, even though I have not been able to get to know the creators. DYOR.
When: Saturday, 3PM UTC (now)
How much: 44/46 (WL), 48 (Public)
How many: 5,555
EarthNatives is releasing their final drop, a collection of 633 Meerkadas, this weekend. Note the significantly smaller supply compared to their previous two drops.
When: Saturday, 3PM UTC (now)
How much: 50 ADA
How many: 633
Vudu Brigada is dropping their highly anticipated Black Magic collection. See my full interview with the team here. The collection consists of only 1k NFTs, which the creators attribute to the much-increased complexity of traits and manual work needed to create Black Magic.
When: Sunday, 3PM UTC
How much: 70 ADA
How many: 1,000
MIPA Toys might be one of the lesser-known projects on this list, but as we all know, that usually has no correlation with quality. This upcoming collection is a collaboration with @wkartNFT.
When: Sunday, 5PM UTC
How much: 10 ADA
How many: 140
Derp Birds launches PRED this week, although most details are still TBA. Trade in your OG Derp Birds or derplings + eggs to mint a PRED.
When: Tuesday
How much: TBA
How many: TBA
Turf has been mentioned before as an innovative, yet under-hyped, project. They are opening their public mint this week so you can start collecting and growing your own turf.
When: Tuesday, 4PM UTC
How much: 50 ADA
How many: N/A
Over Exposed is undoubtedly the most highly-anticipated drop of the week. Their sneak peeks have continued to amaze and excite fans throughout the week and many people had the unexpected surprise of winning the public lottery yesterday.
When: Tuesday (WL), Wednesday (public), 8PM UTC
How much: 100 ADA (WL), 150 (Public)
How many: 4,000
The Ape Society starts its cabin sale on the 26th for certain NFT holders (nobles). TAS has established itself among the most popular projects on Cardano and many people are therefore excited to mint their cabin.
When: Tuesday (nobles), Wednesday (holders), Thursday (public), 2PM
How much: 150 ADA
How many: Unknown
Chains of War is an interesting project that has more quality and ambition than hype at the moment. This 10k project will be minting heroes that will allow holders to roam the world of Tyrrha and roleplay.
When: Thursday (WL), Friday (public), 2PM UTC
How much: TBA
How many: 10,000
BrightLeaf Laboratories gained some buzz when it first opened its Twitter, receiving praise for its high-quality 3D-style NFTs. Their worthy mission to plant trees in the real world also can't be disputed. The mint is public and you can get discounts if you buy more than 1 NFT in the same transaction.
When: Thursday, 5PM UTC
How much: 100-130 ADA
How many: 5,555
Crypto Boutique is a unique NFT collection in the sense that it is a collectible family. Collectors of all 5 family members will be rewarded with a 3D Crypto Boutique shop in the same style as your family members.
When: Friday (29th), 7PM UTC
How much: 50 ADA
How many: 5,555
Deft Punk Art Club has been recognized in the area of fine art CNFTs but is now expanding to the generative scene with its Cyclombies collection.
When: Saturday (30th), 9PM UTC
How much: 44 ADA (38 for WL)
How many: 4,444
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.
Market Analysis
The CNFT market is experiencing another sizzling hot period of high volume. 15M on the weekly time frame and almost 3M on the 24-hour time frame is a significant rise compared to only a couple of weeks ago.
New drops are selling like hotcakes again, reminding us of the gold rush period of September 21'. As mentioned last week, this is happening during a significant decline in overall NFT volume on Ethereum, a downtrend in crypto prices, and difficult traditional markets. We are up almost 30% from last week and 50% in terms of sales but how long can this trend continue?
As people cash in on this bull run and take profits, I would not be surprised to see another cooldown period in the next few weeks.
The numbers (last 7 days)
Total ADA volume: ₳15.1 million (+27%)
Total CNFT Volume: 63,331 (+50%)
Top 5 Marketplaces
JPG.store: 13.35M, 88% market share 🏆
SpaceBudz: 1.1M, 7.1% market share 🥈
⬆PXL.org: 378K, 2.5% market share🥉
⬇CNFT.io: 165k, 1% market share
Epoch.art: 79K, 0.5% market share
Top Volume Gainers (%)*
Havoc World 🥇
MetaBunnyLegends 🥈
Phoenix Arena 🥉
Acronym DAO
Proxie Womb
Top Volume Losers(%)*:
Retro Aliens
Dope Dogs
Motley Moon
BAC Spaceships
Boss Planet Real Estate
Top Newcomers
Mad Dog Car Club: ₳1.5M volume, ₳246 floor
Dead Rabbit Resurrection Society: ₳1.4M, ₳269 floor
Havoc Worlds: ₳901k, ₳91 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: Politikoz
Politikoz is an OG project that brings a unique political concept to CNFTs. They created a simple and auditable on-chain protocol that simulates an electoral process. Winners of this process will then share an election ADA pot at the end of each period. See the video below for more info.
At only a 30 ada floor it could be a relatively low-risk investment in an innovative OG project that could also give you extra ADA in addition to the regular 5% return when you stake with their pool, PLKOZ.
Artist: MIPA Toys
Already mentioned in the upcoming mints section, MIPA Toys' name is Michal and he's an engineer by trade. His true passion is for toy design and his talents become very apparent once you start scrolling through his Twitter profile or jump into his Discord. With just over 1,500 followers, I think his talents deserve more attention in the CNFT space.
Thor's Thoughts
The CNFT space is still incredibly young and we are still figuring out what standards we want to set for the industry, whether it's royalties, minting methods, or anything else.
How we deal with rarities is no exception. For months, the community has become used to and accepted a certain method in which the creators themselves decide the official rarity. By giving certain traits different weights, creators can arbitrarily adjust the rarity to their liking after the collection has been minted. This becomes the "official" rarity that gets the stamp of approval from the creators themselves. This is opposed to the more objective mathematical rarity that counts the number of traits and tells us how rare they are, consistent with on-chain metadata. Both methods have their pros and cons.
Although I won't argue what is the "correct" way to look at rarity, we need to think about what standard we want to set on Cardano. We need to talk about it and think about it critically, instead of just assuming what we're used to is the best way. The more mature Ethereum NFT space has set a standard that looks very different from what we currently have on Cardano.
To me, rarity is a statistical number - math. This is my personal preference. Some project creators might not like this approach and create their own weighted rarity. Some collectors might also prefer this method.
In a perfect world, users could simply choose which approach to use when browsing through different collections because to me, the more information we have the better. Having both options and all information available would drastically improve the chances of our community organically choosing the best standard moving forward.
Viking Squad Updates
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Almost 1k Vikings talk about different projects, share ideas, and have fun. Special thanks to the following Vikings for contributing to this week's issue:
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