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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
February is coming to a close, so we'll start by summarizing the month in 10 bullet points:
BUZZ is gone
Market cooldown & $ADA below $1
Jar Heads success is a big win for art projects
More quality on Cardano courtesy of Benjamin's Group & Over Exposed
DING! (PXLz secondary market going crazy)
Great month for music NFTs
BCRC keeps dividing opinions. Launch their metaverse plot sale.
DAOs sweep floors. First DAO Roundtable held.
The industry tries to figure out copyrights
Multisig drops become more common
Cornucopias had their first NFT sale this weekend, the Bubblejett collection. Despite the large supply of 11,900 and the 120 ADA price, the collection sold out fast. The mint itself experienced some serious hiccups, however, "due to massive demand". The team teased another upcoming collection "very soon".
Multiple exciting projects launched this weekend and it was a particularly busy Sunday. Over Exposed, Fudbuddies, Machine Headz, and Oddboyz were among the standouts yesterday, while Mandrillz, Fort Gotten, Charli3 Cuties, and DarkBudz launched earlier in the week. Most, although not all, sold out (see below)
Degen Toons was possibly the most hyped project in the CNFT space last week, which is surprising considering it's an Ethereum project. The CNFT community's interest in ETH projects seems to have increased over the last few weeks, which has created some buzz on Twitter.
Ukraine has been in the minds of most people this week. This has brought the best out of the CNFT community, as projects and individuals find ways to raise funds for charities in Ukraine.
VeggieMates held their second Farmer's Market this weekend. This fantastic event is not just fun but also gives 100+ small and large projects the opportunity to display their work and connect with the community.
Ugly Bros, Degen Crypto Club, and Ape Society updated their roadmaps this week with some exciting plans, including the $degen and $society tokens.
Many Successful Drops happened last week. Although not a complete list, a big congratulations go to all projects and artists that launched successfully.
Benjamin Group's artist Zigor has teased the hatching of the eggs. This has had a significant impact on the volume of the collection, with floor price at 385 ADA for a eggcelent and 10k for raregg.
Over Exposed hosted their first auction of an incredibly impressive 1:1 piece. The community was excited to see an impressive 30k ADA bid but the excitement was short-lived when the winning bid was discovered to be fake. The team announced that they will be extending the auction period sometime in the next couple of days.
The DAO Roundtable was held for the first time last Friday on my Twitch channel. An impressive panel of DAOs and community members had a great discussion on the current state of DAOs on Cardano. Watch the event below:
Cycl:R made a big announcement today where they announced their next steps, including merch, opening the mint up again, and Cycl:R collabs. Both the collabs and mint will begin next Monday. More on Cycl:R in the Underrated section below.
Berry, the first Cardano NFT ever made has its birthday tomorrow, March 1st at 4:48 PM EST. RatsDAO is taking the celebrations to the next level by organizing a Berry Twitter Takeover.
Airdrops were plenty last week from various projects, including Worlds Within (serum), Pavia/Forms (statue), ABHS x Glus, Lion Legends and Steve3p_0 (frame). Congrats to all new owners.
Ada Homes was an unexpected yet exciting newcomer to the space last week, which sold out in a few days. It's the first NFT collection that lets you display your other NFTs inside your "home".
Lazy Llamas opened up their mutation lab this weekend, which had llama owners very excited.
This Week
CardanoKings x Space Ape Club is currently minting.
When: Now
How much: 50 (for holders) or 55 (public)
How many: 5,555
RatsDao Birthday Berry is a great campaign by the Rats and will be open to members (1 per wallet) to celebrate Berry's birthday.
When: March 1st, 00:01 UTC
How much: 25
How many: Unknown
H.Y.P.E. Skulls begins their vaporizing window this Wednesday. This is when Genesis Skull holders will be able to use their vapors to generate a new vaporized skull.
When: March 2nd
How much: 70+ ADA
How many: 3,000
Mystic Monks is a project by artist Jake that focuses primarily on celebrating the artist behind the project.
When: March 3rd, 7PM UTC
How much: 42 ADA
How many: 8,888
Jason Matias is perhaps the most recognized photographer on Cardano and is releasing his 2nd Guardians drop soon. His work entered many people's radar when he became the first airdropper for Angel Baby Hit Squad.
When: March 3rd, 11:59 PM
How much: 500 ADA
How many: 25
Vampire Invasion by Bajuzki Studios is an upcoming 10k collection by the creative mind behind The Attack on Vitalik comic series.
When: March 4th, 5PM UTC
How much: 40 ADA
How many: 10,000
Radioactive Crocs is the second drop by Cardano Crocs Club that has received significant attention for their utility with their $C4 coin.
When: March 4th, 11PM UTC
How much: 100 ADA
How many: 10,000
Cardolphins is an exciting project that donates 5 ADA to Dolphin Project for every dolphin minted. The project has already partnered with some influential players in the space, including Degen Crypto Club, Soho Kids, and CardanoMan.
When: March 5th, 5PM UTC
How much: 65 ADA
How many: 8,888
Metadams is an interesting project introducing a play-to-stake metaverse. The metaverse is a part of the Prime Beaviz project and owning a Beaviz will give holders alpha access.
When: March 5th, 9PM UTC
How much: 75 ADA
How many: 4,317
Knfty World is a project that has already been around for a while. Due to some issues, their drop has been delayed significantly. The project promises significant utility, including a DAO, P2E game, and a stake pool.
When: March 5th, 11:45 PM UTC
How much: 60 ADA
How many: 8,800
Earth Natives is launching their second drop this weekend - Adants. The project continues to use minting funds to build a house in Brazil for a person in need. See my full interview with the team about this upcoming drop at the bottom of this newsletter.
When: March 6th, 5PM UTC (5th for pre-sale)
How much: 50 ADA (38 for pre-sale)
How many: 1,333
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.
Mashamals (Team behind H.Y.P.E. Skulls)
Market Analysis
The Russian invasion of Ukraine has caused some serious pessimism in the traditional markets and crypto and CNFT markets have followed. This week had several highly anticipated projects launch, however, which helped the volume statistics to turn green for the week (2.65%). With a 19% increase in NFTs sold, easy math tells us that the average price is declining. With the exception of Friday, the average price has indeed been falling steadily from 290 to 200 ADA.
FudBuddies and Mandrillz have moved a total of ₳652k volume since their launch but Boss Planet, Pavia, and Cornucopias take the top 3 for the week and are the only projects over ₳1 million. Other notable projects include JAR Heads (₳592k), Smooth Yeti Mountain Club (₳411) kand Benjamin's Group (₳176k).
The CNFT Community seems to have been very excited about new projects and those with updated roadmaps, as regular blue chips such as SpaceBudz and DeadPXLz recorded much lower volume.
The numbers (last 7 days)
Total ADA volume: ₳13.3 million (2.6%)
Total CNFT Volume: 54,751 (19%)
Top 5 Marketplaces
JPG.store: 13M, 87.8% market share (+6.7%) 🏆
CNFT.io: 1.1M, 7.4% market share (-1.8%) 🥈
SpaceBudz: 490K, 3.3% market share (-0.1%) 🥉
Tokhun: 106K, 0.7% market share (-0.25%)
PXL.org: 87K, 0.6% market share (-4.4%)
Top Gainers*
Worlds Within (2.1k%)
Last Society (2k%)
Faha 10k Tribute (1.6k%)
Bizarre Stars (1k%)
Ada Dolls Buddy S1 (995%)
Top Losers*:
Cardano Kidz (-97%)
Isometric World S2 (-93%)
Cardano Villa (-92%)
Lucky Planet (-91%)
Disco Solaris (-91%)
Top Newcomers
Mandrillz: ₳387k volume, ₳54 floor
FudBuddies: ₳271k, ₳69 floor
Anatomy: ₳190k, ₳26 floor
Top 3 sales:
*Only projects that record at least 3k(gainers)/1k(losers) over the past 7 days are included
The ArtBeat
JAR Heads gets another mention in this section not only for successfully selling out a beautiful collection but for making a significant impact on the CNFT art space. The market has almost always placed utility and hype surrounding the price of an NFT before that actual art. The JAR Heads collection seems to have broken through this general trend and attracted a group of investors who appreciate the NFT for what it is - art.
Of course, there are plenty of art collectors out there but no art project has seen so much weekly volume (592k) before. JAR Heads has no utility, no rarity, and no roadmap. Yet, it's a collection in high demand that placed above SpaceBudz in the weekly volume table.
To celebrate what feels like a possible turning point for art on Cardano, I had to change my pfp.
Backwards Geometry and ADAbots, two true original creators on Cardano, launched a beautiful collaboration and quickly sold out with a limited supply of 30 pieces.
Charles Machin is a coder and generative artist on Cardano that released his Eternal Chaos collection last week. The artist runs Block Generation with another coder, Adam Gorman, offering free tech advice to creators and artists.
Underrated
These are this week’s most underrated investment opportunities and artists. This is a highly subjective section so please DYOR
Investment Opportunity: Cycl:R
Equine was underrated for a long time and was my pick a couple of weeks ago when it was 75% cheaper. This week, for very similar reasons, Cycl:R deserves consideration as a good investment opportunity. The project has been fairly silent but as I am writing this section, they made an announcement about their upcoming steps, including some juicy collabs, merch, and opening up the minting machine again.
The mint is not cheap (250 ADA) so if you don't want to test your luck or wait for Monday, there are some really good deals to be had. The project is backed by the established Benjamin's Group team and the quality of their work speaks for itself. I also got to know him personally during a Twitch chat, which made me even more confident in the project.
Cycl:R isn't just about amazing quality NFTs. They have big plans for merch, a video game, and even creating actual bikes for holders (see Twitch chat). It's a team that seems to be better at creating quality product than they are at marketing, which is why I believe they are undervalued. This will change once their minting is over and more teasers come out about their upcoming game or the Rider reveal.
Artist: Pixelado
Pixelado is the graphic designer and author of Ash&Tray, a monthly comic series about two despicable guys and their ordinary lives. The series is quirky, funny, well designed, and above all, unique.
The uniqueness of this project is what drew me in but the quality of it is what will keep me minting new episodes.
Rugpull Watch
No confirmed rugpulls last week!
Thor's Thoughts
As a creator, you have a million decisions to make. One of the most important decisions, as with any business, is to figure out who your customers are. This will be determined by two things:
Your art/style
Your marketing
Your art/style and type will determine what kind of person finds your work appealing. Are you creating a cute dog pfp or a sophisticated generative art collection using algorithms? These two types of projects will naturally attract very different audiences and most creators are very well aware of this.
What creators sometimes fail to realize is that their marketing can have just as big of an impact on what kind of audience their project attracts. If you carefully set expectations, provide high-quality engagement, and focus on organic growth, you can expect a smaller but more loyal fanbase. If your marketing is about hype, lofty promises of metaverse utility, floor price talk, and exclusivity, you could have a much larger but less loyal group of investors.
Whichever route you take, do it intentionally and make sure that your marketing aligns with your artwork style and goals. If not, you will leave yourself and others confused and disappointed.
Viking Squad Updates
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:
Sponsor a Stream Marble Race (DM or send to this address)
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Discord Server:
The server was flooded with new Vikings this week and now stands at over 850 strong. It's a chill place where we talk about different projects, share ideas, and have fun.
Check out CardanoThor's community on Discord - hang out with other CNFT creators and collectors.
YouTube: Over 500 subscribers - thanks! At least 3 new videos every week.
Check out today's Weekly CNFT Brew in a video format, available later tonight. In the meantime, check out my talk with Earth Natives about their upcoming drop and updated roadmap.
Twitch Streaming Schedule:
Wednesday, 8PM UTC - Bajuzki Studios (Attack on Vitalik)
Friday, 8PM UTC - TBA
Twitter: This week's most popular tweet: