Weekly CNFT Brew

June 15, 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 1-minute TL;DR of the Brew:

  • Crypto markets crash in a harsh economic environment and Celsius, a U.S. crypto lending company, freezes withdrawals.

  • New CNFT projects continue to struggle as the result of Cornucopias and Eikonikos mints and the bear market.

  • Consensus was held in Austin Texas this last weekend and by all accounts, it was a great success.

  • JPG.store announces offers! Users can now send and accept offers on any NFT.

  • "Martin: The Reunion", a collaboration between NFT Maker and Martin Lawrence, has 1 NFT still unsold.

  • Clay Nation revealed their $CLAY tokens and released further details in their updated Clay Paper V.III.

  • Dish Network is making NFTs on Cardano as a part of their broader partnership with IOG.

  • ADA Ninjaz release Shards of Ninavah on Friday and partner up with Bajuzki Studios for Ninja Vampires.

  • OnBoard release a teaser of an upcoming art collection.

  • Derp Birds release their lite paper on Thursday and Mocossi updated their roadmap last week.

  • Joseph Miranda announces launch date for his Digital Lowlifes collection (June 25th)

  • Cardano Balls was a rugpull but some projects stepped up to assist those affected.

Last week's drop highlights:

Upcoming mint highlights:

The Highlights

The markets are red. Both crypto and the traditional markets continue to fall as BTC hits 8 (extreme fear) on the Fear & Greed Index. BTC fell as low as $21k (-14%) and the S&P hit its lowest level since March 2021. Total crypto market cap also fell below $1 trillion for the first time since January 2021. Most analysts agree that we have entered into a bear market as global recession worries continue to grow.

Matters were made even worse when crypto lending company Celsius froze withdrawals and transfers.

New projects continue to struggle. Not only did the Eikonikos and Cornucopias mints take up a lot of liquidity in the CNFT space but current market conditions have made it even more difficult for new projects to thrive. Several projects that launched last week have yet to sell out and are forced to rethink their strategies. Examples include:

Consensus was held in Austin Texas this last weekend and by all accounts, it was a great success. Many projects and Cardano leaders, including Charles himself, gave exciting updates on their developments.

Charles introduced a Input Output light wallet called Lace, Joshua Miller did some Cornucopias racing, and even BitBoy himself joined the party and sat down with Charles for an interview.

JPG.store released a highly anticipated update last week, allowing users to make and accept offers on any NFT on their marketplace. The offer is made through a smart-contract but can be changed or cancelled anytime before it's accepted. Red the below thread for full details.

Dish Network is making NFTs on Cardano as a part of their broader partnership with IOG announced during the Wyoming Summit. As Dish launches its 5G network and accompanying "Engagement App" where users can potentially earn NFTs, the network is on its way to officially become the 4th mobile carrier in the U.S.

Martin: The Reunion, a collaboration between NFT Maker and Martin, has 5 pieces still unsold. The collection has largely been well received by the Cardano community, although some have criticized the price tag and the concept of celebrity NFTs.

Projects release updated roadmaps/lite papers. Clay Nation is releasing their Clay Paper V.III as this is written, which will feature more details on their utility token, $CLAY.

Claypez announced that their Claypez paper is coming out this weekend.

Mocossi updated their Mocossi Planet roadmap last week, adding activities.

Finally, Derp Birds announced that their lite paper is being released this Thursday. They also teased that their Season 2 is coming soon.

ADA Ninjaz announced that they will be releasing their game, Shards of Ninava, this Friday. Players will be able to connect their wallets and user their NFT characters to play the game.

They also partnered up with Bajuzki Studios to create Ninja Vampires. In order to mint one, holders needed to burn 2 regular Vampires and send ₳20. The Ninja Vampires were revealed at 5PM UTC today.

OnBoard NFT is a CNFT launchpad that focuses on bringing fine art artists to the blockchain. Last week, they hinted at their first artist collection with an impressive video.

Joseph Miranda's Digital Lowlifes is a highly anticipated and unique collection of 5,000 NFTs and over 2,000 unique characters. The collection is known for including various community members in it, including yours truly (my Twitter pfp). After a lot of hard work and preparation, the team announced the launch date: June 25th.

Cardano Balls rugpulled its investors this week. Fortunately, some projects stepped up to assist those affected.

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.

Sacred Sapiens is a 3D animated sci-fi CNFT project that plans to evolve their NFTs along with their storyline. They just recently opened up their Discord server and reported over 2.5K members in the first 4 hours. Their first mint will be for their Origins Pass, which will be available to whitelisted members first.

When: Wednesday, 1 PM (Sacred 777 role)

How much: 100 ADA

How many: 1,300

Melting Moonboy is a project familiar to many CNFT collectors. The project entered the scene at the beginning of 2022 but has now reached over 10k followers on Discord. Its main goal is to spread awareness and love for great art on Cardano.

When: Wednesday (WL), Thursday (Public), 3PM UTC

How much: 100 ADA

How many: 5,555

Nemonium is a unique CNFT project offering a platform for community artists. They have several successful mints on their resume but this one, called Calvaria, is a collaboration with Josh Jones. Unlike most mints, this one will be entirely public, i.e. have no whitelist.

When: Friday, 4PM

How much: 69 ADA

How many: 13,000

Chronibblers is bringing the 90's to Cardano. The 6k collection has a unique style and the team plans on using the project as a platform to become a single stakepool operator. They also plan on using royalties to support sustainable projects voted by the community.

When: Saturday, 5PM

How much: 75 ADA

How many: 6,000

ADA Minions might only be familiar to the most dedicated CNFT fans out there. What they lack in hype they make up for by having a good project creator and quality design. This drop will be the Season 2 3D collection.

When: (Next) Tuesday, 5PM

How much: 75 ADA

How many: 500

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

It's another rough week in the CNFT space, which is unsurprising given the general crypto and economic landscape. The decline is made even more dramatic by the fact that no CNFT drops this week compare to the Cornucopias and Eikonikos drops last week. We are experiencing a whopping 38% drop in volume with Cornucopias still accounting for 28% of all volume on the market this week.

Those with liquidity, lucky or smart enough to have taken profits in the previous weeks and months, might be able to enjoy heavily discounted CNFTs on the secondary market. The rest of us, however, are surely feeling the pain.

Although the future looks bright for Cardano and CNFTs, the current market conditions force us to expect the worst for a good while.

The numbers (last 7 days)

  • Total ADA volume: ₳9.6 million (-38%)

  • Total CNFT Volume: 39,649 (-16%)

Top 5 Marketplaces

  1. JPG.store: 95% 🏆

  2. SpaceBudz: 3%🥈

  3. ⬆PXL.org: 0.9%🥉

  4. ⬇CNFT.io: 0.5%

  5. Epoch.art: 0.2%

Top Volume Gainers (%)*

Top Volume Losers(%)*:

Top Newcomers (over ₳100k 7-day volume)

  • Degenerats: ₳232K volume, ₳80 floor

*Only projects that record at least ₳1k over the past 7 days are included

Top 5 sales of the week belonged to Cornucopias (4) and Pavia (1), the highest one being ₳53k for a mythic Copias plot. Beyond these metaverse sales, DeadPXL, Aquafarmers, and SpaceBudz all recorded sales over ₳20k.

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: Ad3v1s

After months of preparation, unfortunately the Ad3v1s project did not experience the smoothest of launches. Not only was it launching in an incredibly difficult market environment, but it also had some technical hiccups. In my opinion, those are the two driving forces behind the secondary market floor price and volume being somewhat lackluster.

However, if you're an optimist, this might look like an opportunity to invest in a project that has great art and proven commitment (they have been working since September 2021). Since launch, the project has recorded just over ₳100k in secondary market volume and has a floor price of ₳57, just below the ₳60 mint price.

Artist: Marcel Baumberg

Mostly unknown to casual CNFT collectors, Marcel is the main force behind Tastenkunst, the interactive development studio that designed the Mesmerizer collection. Marcel is also one of the lead developers at Eternl, who officially released the collection in 2021 and offered holders utility in the form of a staking returns boost.

As a utility collection launched by Eternl, it's easy to understand why the actual generative art is less talked about. Available for on ₳8 today, I think Marcel's generative art collection is severely underappreciated on Cardano.

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: Almost 2k subscribers (thank you!). Up to 3 new videos every week. Weekly CNFT Brew is coming out in video format tomorrow, Thursday.

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 (Viking Games!)

Twitter: Most popular tweet of the week