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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. Through research and help from my community, I bring you CNFT news, market analysis, the ArtBeat, and more. Happy reading.
The Highlights
Clay Nation Pitches was the biggest drop this week by a big margin. These pitches will be in the Clayverse, where the team plans to host virtual events and festivals. As expected, demand for pitches was very high, although not all were claimed. Today, we will find out the raffle results for the remaining pitches:
Sonic Village = 1401, Underworld = 1137, Baked Nation = 493
FutureFest hosted a successful virtual event on their platform, headlined by the legendary artist Kaskade. This was a big moment for the CNFT community as it brought yet another big name artist to the space.
JPG.store continues to build their platform. This week, they made huge progress lowering their listing fees, allowing multiple transactions, and improving the overall user experience.
They also brought DegenTravis, a popular YouTuber and community members, on the team as the head of their JPG Launchpad.
DeadPXLz released their Whitepaper V.3 and Dingonomics, which includes details on their $DING token and general tokenomics. You can now see how much $DING your PXL or metaPXL can earn on their website.
Vudu Brigada hosted the first-ever fashion show in the NFT space. The event was of good quality and unique, consistent with the project's work so far.
The success of several recent derivative projects such as PastelBudz, Lucky Lions, and Dope Dogs has been good news for holders but has other community members questioning where we should draw the line.
Mandrillz released their Drillz City Roadmap today at 5PM UTC. As a relatively new project that regularly breaks the Top 20 and Top 10 in daily volume and currently sits 44th all-time, this has many people excited.
False Idols has been a highly anticipated upcoming project for a while and they finally announced their mint date. More on that in the section on upcoming drops. See my interview with the team here.
Pavia is celebrating Easter and preparing for their airdrop to plot holders. Although limited information has been released, it's something that holders are getting excited about.
This was a week of many exciting drops, some of which are happening today. ADA Invadaz sold out quickly and is doing well on the secondary market. Today, we also have the Mad Dog Car Club and Phoenix Arena drops. Phoenix Arena mint will be open for 48 hours with no limits while MDCC whitelist begins today and public mint starts on the 17th. Less than 300 NFTs will be available for the public mint.
Chilled Kongs keeps being anything but chill when it comes to setting up partnerships with other projects. They recently added two other big partnerships to their long list, Growing Pains and BCRC.
Borg Club has released their Corrupted Borgs to the blockchain, allowing holders to use their chips and original Borg to generate a Corrupted Borg.
Welcome to NFTs, a musical parody about NFTs, received some attention on Twitter this week. Did I just shill my own content here in the Highlights section? Yes, yes I did.
Vasil Hard Fork is on track to take place in June, which will contain pipelining and massive performance improvements. The plan is to showcase some of these developments during Consensus 2022 in Texas, June 9th-12th.
Elon Musk is currently attempting to purchase 100% of Twitter, which has understandably caused a heated debate on the platform.
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
Phoenix Arena is minting their Divers right now on their website. Check out my recent stream chat to get to know the team better.
When: Now
How much: 50-60 ADA (bulk discounts)
How many: 48H open mint
Mad Dog Car Club is minting for their whitelist today. This is a highly anticipated project and is expected to sell out fast. Almost the entire collection will most likely sell in the whitelist mint.
When: Today (WL), 17th (public)
How much: 30 ADA
How many: 10k
Havoc Worlds is an upcoming 10k pfp project with dystopia-themed lore and two main factions.
When: Today (WL), Saturday (public), 4PM UTC
How much: 50 ADA
How many: 9,999
Voyage is an interesting project that focuses on space exploration and customization, promising upgradable NFTs. They have a limited supply but a heftier price tag instead.
When: Monday, 7PM (WL) 8PM (Public)
How much: 140 ADA
How many: 1,550
Yummi Universe drops their Spring Narus on Tuesday. The snapshot will be taken 24 hours earlier, so if you plan on minting any, remember to delist from marketplaces before Monday.
When: Tuesday, 4PM UTC
How much: 40ADA + 1 seasonal Naru
How many: N/A
Unwanted Ones has been on my CNFT Radar for a while and now it's finally mint week.
When: Tuesday, 5PM UTC (WL), 7PM (Public)
How much: 52 ADA
How many: 3,500
Gizmoe is a collection of 3,333 hand-crafted and upgradeable pocket pals.
When: Wednesday, 6PM UTC (WL on Monday)
How much: 69 ADA
How many: 3,333
GingerBread Squad is dropping another seasonal collection, 4/20. As usual, a significant portion of the collection will be airdropped to holders of the original collection, or 1k to be specific. The remaining 420 NFTs will then be available for public mint. Snapshot is taken on 4/20 but the airdrop will happen on 4/22, 8PM UTC and the public mint an hour later.
When: 4/22 9PM UTC (snapshot for airdrop 4/20)
How much: 30 ADA
How many: 420
CardanoKings is having their last public mint on Thursday with a very limited supply.
When: Thursday, 2PM UTC
How much: Unknown
How many: 100
False Idols is a collection of 6,666 Idols traveling through the Cardano Blockchain to the gates of hell.
When: (next) Friday, 4PM UTC
How much: 50 ADA (WL), 60 ADA (public)
How many: 6,666
WeebleWibs is a collection of wibbley 3d characters adapted from Water Marbled prints hosted on Cardano.
When: (next) Friday, 5PM UTC
How much: 45 ADA
How many: 5,600
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
ADA is under $1, again. The external environment continues to be rather hostile but that hasn't had a significant impact on CNFTs. ETH NFTs were down 37% last week while CNFTs were only down 3.6%. The fact that CNFTs are recording a consistent volume during this difficult period and a major decline in the general NFT space is undoubtedly a bullish sign.
After a lot of excitement surrounding the Pitches at Clay Nation drop, volume is starting to down. Sellers are likely putting flipping profits into other projects and we are now seeing some impressive volume elsewhere such as ADA Invadaz, ChilledKongs, Pendulum,Yummi Universe, Disco Solaris, Teddy Troops, and SpaceBudz to name a few.
The numbers (last 7 days)
Total ADA volume: ₳11.8 million (-3.6%)
Total CNFT Volume: 41,851 (+2%)
Top 5 Marketplaces
JPG.store: 11.4M, 91% market share 🏆
SpaceBudz: 471k, 3.8% market share 🥈
CNFT.io: 382k, 3% market share 🥉
PXL.org: 303K, 1.62% market share
Epoch.art: 44K, 0.4% market share
Top Volume Gainers (%)*
ROBOROBO 🥇
Cardano Kombat 🥈
The Refresh 🥉
Beyond Rockets
Steve3p_0
Top Volume Losers(%)*:
ADA Handle
Aneta Angels
Clay Nation X GC
AdaDigies
ELMatador
Top Newcomers
Pitches at Clay Nation: ₳3.7M volume, ₳447 floor
PastelBudz: ₳468k, ₳75 floor
ADA Invadaz: ₳397k, ₳185 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: GOAT Tribe
This project has always been close to my heart. It was the first project that I invested heavily in and reaped the rewards when the floor price shot beyond 350 ADA.
From an investment standpoint, what I like the most is the community strength. The project has never received its value from any utility or lofty promises. It's simply a collectible that has created one of the strongest communities in the space, even inspiring its own investment group, the SGS.
After a recent dip to what is now approx. 240 ADA, this could be a good opportunity to grab your first, or tenth GOAT and hodl until it reaches a new ATH price in the medium-term.
Artist: Joseph Miranda
Joseph Miranda has been around the space for a long time and deserves more recognition for his creative work, distinct style, and unique concepts. Although many people might be familiar with his work (I use his work as my PFP, for example), I believe his work is still undervalued judging by his social following and floor prices.
Finally, I am always pleasantly surprised by how active he is in the community, collaborating with great projects and constantly working on new artwork.
Rugpull Watch
No known rugpulls in the last 7 days.
Thor's Thoughts
90% of startups fail. I'm willing to bet that this rate will be even higher in the CNFT space although no research has been done on this. I check the Harvard Business review every week. This means that 90%+ are going to 0. Think about that for a second. This is a tough pill to swallow for degens like me, who mint something new every day.
It's becoming increasingly clear that blue chips, the small minority of projects that survive, are where we should be investing our ADA. They will not only be a good store of value but likely a really good investment.
With time, the law of diminishing returns becomes painfully real in the CNFT space as most blue chips have already been created and are now out of most people's price range.
This is why my primary focus is to identify the most likely blue chips in my budget today. Projects like Clay Nation if your budget is high, Yummis for a slightly lower budget, or Growing Pains for the smallest budgets. Is Growing Pains a guaranteed blue chip? Absolutely not. But my focus is trying to find projects that are in the early stages of becoming a blue chip instead of minting every new project that comes out. If I mint new projects, it's with the end goal of flipping it for a blue chip. What are you spending ADA on?
Viking Squad Updates
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