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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 first CNFT Roundtable was held Dec. 30th with great guests, including Fahadouken and Clay Mates. Not only was it a great discussion reviewing 2021 in CNFTs but the event has also raised 7,774 ADA for typhoon relief in the Philippines.
Chilled Kongs have been tearing up the CNFT space this week both in terms of volume, floor price, and community engagement. The project appears to be bringing many new investors from other blockchains to CNFTs, which is surely a good thing. However, they have also been the subject of some debate as many respectable members of the CNFT community criticize the apparent lack of originality with yet another ape concept.
HashGuardians have received some criticism for how they handled their Hashcoin drop for holders. When information was revealed about their use of an asset generator for their artwork, things didn't get much better. Many people, including Fahadouken, were not impressed with the team and decided to move on.
Increased volume is being recorded on the CNFT market this week. Although led by Chilled Kongs and BCRC, many other projects have seen a significant rise in volume and floor price. Most notably, Space Ape Club moved 132K ADA in the last 24 hours, moving the floor price to almost 150 ADA at its peak. Mocossi, Happy Hoppers Club, Growing Pains, Ghostchain, Raging Teens Clan, ADAPunkz, and Goat Tribe are currently experiencing similar trends.
Samsung announced a partnership with Cardano as they plan to offer an NFT platform within their new smart TVs. The significance of this step towards mass adoption is difficult to overstate.
Soho Kids announced a drop date for their 5k collection: January 22nd at 20:00 UTC.
Bright Pals has received a lot of attention on Twitter and just announced their website release: brightpalz.io
Just like with Chilled Kongs, people pointed out to similarities to a certain ETH project and questioned its originality. Those criticism don't seem to have much effect on excited potential investors and collectors.
Dan Gambradell from Crypto Capital Venture has come under some scrutiny from the CNFT community again after announcing his big interview with Charles Hoskinson. As most people know by now, he was the creator of the industry's first high-profile "rugpull", which left a sour taste in many people's mouths.
Lazy Llamas successfully sold out their 5k drop. Congrats!
This Week
It's a slow week in terms of new drops as creators prepare for a busy 2022. Although most notable drops are happening later this month, there a couple worth mentioning:
Wood Lords launching this Sunday at 8PM UTC. Early Bird token holders will get access earlier than the public, however.
This project has been growing organically for a while now, as the creator has taken the unorthodox approach of being both the technical and creative force behind the project. That in itself is quite unique but the hand-made artwork is the primary reason people are excited about this drop.
Breeding season for CardanoApes: Starting today at 6PM UTC, your baby monkeys will be able to breed and create new 3D monkeys for their Metaverse.
AdaWaifus is launching this Saturday at 3 PM UTC. Although not the first Waifu concept, they are bringing new levels of utility for Anime lovers. Season 1 will be 1k with another 9k dropped in season 2. More information on adawaifus.io
Market Analysis
The numbers:
Total ADA volume: ₳6.42 million (+81%)
Total CNFT Volume: 17,584
Top Marketplace Gainer: JPG.store (622%)
Biggest Marketplace Loser: NFTJam.io (-32%)
Top Gainers*
ADAPunkz (3054%)
Mocossi (2912%)
Lazy Llamas (2301%)
Space Ape Club (2247%)
Chilled Kongs (1627%)
Top Losers*:
Ugly Bros (-78%)
Equine Skins (-72%)
Equine Horses (-69%)
3Degens (-69%)
Artifct Moon (-65%)
Top Newcomers
Raging Teens Clan: ₳315K volume, ₳139 floor
Cardania: ₳164K, ₳54 floor
Lazy Llamas: ₳73K, ₳107 floor
Top 3 sales:
Berry Viridian: ₳82,000
Pavia: ₳22,222
PXL#9573: ₳19,800
After a slow December, 2022 is off to a flyer. This week has seen a significant increase in volume, with over ₳2.3M in the past 24 hours. This has even happened during a decline in ADA price, which is unusual. It seems that many collectors and investors are discovering Cardano and entering the space from other blockchains, benefitting both new and old projects.
The rate at which JPG.store is catching up with CNFT.io is also noteworthy. Not only has JPG.store seen a 622% increase in volume this week compared to CNFT.io's 65% increase, but JPG.store has now officially outperformed its competitors on the 24-hour timeframe.
Although this is a great start to 2022 and a sign of progress for the CNFT space, a general cooldown would not be surprising in the coming days.
The ArtBeat
Pendulum has been catching the eye of the CNFT community with its unique style. Their collection will drop in Q1 of this year.
OddBoyz is a new project that has not received much attention yet (273 followers on Twitter), considering the quality of the work. The artist, Marcus, has been doing his abstract-style art for 10 years and plans on dropping his first collection at the end of this month.
Anna Hymas sold out her latest collection of 200 hand-drawn Kimonos. The artist is slowly gaining recognition within the CNFT community, especially among traditional art collectors, and consistently sells out her collections.
Mr. Intangible, which was featured as an underrated artist in the last Weekly Brew issue, revealed his impressive Angel Baby Hit Squad airdrop artwork this week.
Benjamin's Club is currently hosting an auction for Ruye, a Spanish 3D artist who has created some amazing pieces. Current bids stand at 4500 , 6175, and 5156 ADA.
Underrated
These are this week's most underrated investment opportunity and artist. This is a highly subjective section so please DYOR.
Investment Opportunity: Clay Mates
Although possibly too "obvious", Clay Nation by Clay Mates offers a good entry point as newer pfp projects get most of the attention during this current market pump. This project is second only to SpaceBudz in all-time sales and is not going anywhere, driven by a talented full-time team. Compared to new projects, such as Chilled Kongs at ₳700 floor price, the ₳949 floor price of Clays feels like a bargain.
Although certainly not unknown to CNFT collectors, Dracano's work has gone unnoticed lately, possibly due to the artists' hiatus. The "planned recess to rejuvenate creativity" seems to be bearing fruit judging by their sneak peeks of the 3D modeling progress:
Rugpull Watch
Unfortunately, we have the following confirmed rugpulls:
Fancy Foxes
Ada Clouds
Nerds & Virgins also briefly came up on the rugpull watch, although they quickly explained their absence from Discord and social media saying that they had simply been camping for a while.
Viking Squad Updates
Discord Server:
With over 250 Vikings in the server, there's a lot of good CNFT chat happening daily.
Check out CardanoThor's community on Discord - hang out with 253 other CNFT creators and collectors.
Back to the usual schedule and another video coming next Tuesday:
Twitch Streaming Schedule:
Friday 8PM UTC: Coffee & CNFT Chills (giveaways)
Wednesday, 8PM UTC: CNFT Deep-Dive with a project creator
*Only projects that record at least 5k volume over the past 7 days are included