Weekly CNFT Brew

January 17, 2022

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

BrightPalz had their highly anticipated drop this past Friday but not without controversy. The team tried a unique minting method, requiring users to whitelist their wallets using the !confirm command. Discord could not handle the traffic and the confirmation bot crashed, turning the minting process into a free-for-all. Those who followed instructions and waited for a confirmation DM unfortunately missed out entirely. The drama didn't appear to affect secondary market sales and performance, however, with volume reaching ₳700k over a 24-hour period and floor price moving well above ₳200.

Bitboy's recent coverage of the Cardano NFT space has been noticed by the CNFT community. His "NFT Update" hosted by Deezy and Justin has increased the general awareness of CNFTs and brought a lot of new people to the space. Although this kind of hype content is not everyone's cup of tea, it's certainly an overall positive for the market. The incredibly high demand for Bright Palz, a project that took great inspiration from another successful ETH project, was largely due to the hype created by this team.

JPG.store went down for a few hours following the BrightPalz mint, making it the longest outage in the marketplace's history.

CNFT.io made the massive decision to switch to smart contract listings only. The community had been asking for this update for a while now which was largely celebrated.

Been hearing some buzz? It was nearly impossible to be on CNFT Twitter without noticing the latest meme post in the community. It perhaps reached its peak when Tim Harrison, marketing & communications director at IOHK, retweeted the below tweet.

SpaceBud sold for 65K ADA this weekend. These numbers are hardly unusual for this project but for a #1 rank SpaceBud, this is considered to be an absolute steal. Rumor is that the selling account had been dormant for a long time.

SundaeSwap finally released their ISO date, which has been set for this Thursday.

VeggieMates Farmers Market was successfully held this weekend. It was a unique event, full of giveaways and special guests. It even featured music by Paul Thomas from Good Charlotte, performed on Twitch. Not only was this a fun community event, but it also gave many smaller artists an opportunity to showcase their work in their own farmer's market virtual stall on Discord.

Cocoloco seems to be making some sort of comeback, causing both excitement and confusion. When this was written, the floor price stood at an incredible ₳59.

Clumsy Ghosts gave a sneak peek of their upcoming airdrop. This unique NFT will tell the price of your favorite cryptos in real-time.

Big Joe the Don, host of the popular Twitter space Cardano Stonerz Club, released is CNFT collection in collaboration with Mr. Cooper. The collection's theme was hardly a surprise to anyone.

Knfty was scheduled to launch its project this week but sadly had to delay it due to the artist's computer crashing. A new launch date is still TBD.

China made some headlines for their plans to create separate laws for NFTs from Cryptocurrencies. Some uncertainty still remains as questions about the centralized nature of the allowed NFTs. The NFTs will be based on a state-backed blockchain infrastructure only.

This Week

It's another exciting week for CNFTs, both for new and existing projects:

Soho Kids is perhaps the most anticipated upcoming CNFT project, launching this Saturday at 8PM UTC. Watch my livestream video with the creator, Oxy. Soho Kids are using perhaps the fairest drop mechanics seen among big CNFT projects. They will do a raffle-based system where 5000 registered users will be randomly selected to mint. This is not confirmed and is only based on what was said in a recent Twitter space.

When: Saturday, Jan. 22nd - 8PM UTC

How much: 45 ADA

How many: 5,000

Handies is a project that has picked up a lot of steam recently. It is the only project on this list that is currently minting, with just over 1.1k minted out of the 10k collection. The artwork is unique, to say the least, but people have been having fun with these NFTs on Twitter.

When: Now (http://handies.io/)

How much: 45 ADA

How many: 10k

Zombie Chains will start their Zombie Hunters whitelist sale this Saturday at 5PM UTC. 100 Zombie Chains Points are required to participate but more information about that can be found in their Discord server. Fans have been really impressed and excited about the sneak peeks released so far, especially by the strong representation of female characters.

When: Saturday, Jan 22nd - 5PM UTC (whitelist)

Wednesday, Jan 26th - 5PM UTC (public)

How much: 50 whitelist, 60 public

How many: 10k

The Last society is dropping their first collection this Sunday. This project has not been getting massive traction yet but it's not for the lack of quality artwork.

When: Sunday, Jan 23rd - 5PM UTC

How much: 60

How many: 3,000

Fabul.art releases their Gaia series this Wednesday at 8PM UTC. As one of the first high-quality 3D projects on Cardano, it has many loyal fans eager to get in on this 6th collection in their Roleggs series.

When: Wednesday, Jan 19 - 8PM UTC

How much: 140 ADA (not confirmed)

How many: 100

Pizzada is a unique project that aims to build a real-life pizza business and support a charity to ease world hunger. Their 10k collection of pizzas starts today (17th) at 6PM UTC.

When: Monday, Jan 17th - 6PM UTC

How much: 80 ADA

How many: 10,024

The Makers is a smaller architectural project that is both unique and is supporting a good cause. They donated the very first Maker to the Roundtable charity event but are now releasing their limited collection of 100 makers.

When: Sunday, Jan 23rd - 3PM UTC

How much: 60 ADA

How many: 100

Visage is a unique hand-made pfp project that will be launching this Wednesday, Jan 19th at 7:30PM (whitelist) or 8PM UTC for the public mint.

Market Analysis

The numbers:

Total ADA volume: ₳11.57 million (-5.7%)
Total CNFT Volume: 36,313 (-16.16%)
Top Marketplace Gainer: SpaceBudz (150%)
Biggest Marketplace Loser: NFTJam.io (-80%)

Top Gainers*

Rats DAO (9816%)
Mutant Crocs (6120%)
Mutan Toads (5421%)
Isometric World (4382%)
CocoLoco (2129%)

Top Losers*:

Greasy Monkeys (-87%)
Raging Teens Clan (-64%)
CardogeNFT (-80%)
Wild Warriors (-77%)
Ada Apocalypse (-76%)

Top Newcomers

Bright Palz: ₳936K volume, ₳140 floor
Borg Club: ₳369K, ₳154 floor
Old Money: ₳185K, ₳50 floor (160 for $0.2 bills)

Top 3 sales:

SpaceBud #5493: ₳65,000
BCRC#6426: ₳25,000
PAVIA: ₳23,250

*Only projects that record at least 5k volume over the past 7 days are included

The CNFT market continues to stay strong after a crazy start to the year. Many exciting drops this week, and many more to come, help to continue this great run, with only a slight -5.7% correction this past week.

With more eyes on the CNFT space than ever before and more crypto influencers paying attention, things are looking bright in 2022. The biggest hurdle could prove to be network congestion and many people worry about that issue after SundaeSwap goes live.

However, as experienced crypto traders know, it can be wise to take profits on the way up and that is exactly what many investors have been doing. Whether that's to save up for future projects or buy blue-chips, such as SpaceBudz, or convert into fiat.

The ArtBeat

Infinite Halo launched their highly anticipated Fusion event, where holders of Essence Halos can fuse them together to make a new, 3rd Halo. This is completely free and can be done seamlessly on their website.

Mandrillz has been getting some attention for their unique NFT artwork style. Although not a traditional art project, their retro comic style has some strong cultural influences and stands out from most other traditional pfp projects. The project is led by an impressive 4-person team, including Rob. Although not launching until the end of February, it's looking like their collection of 8,888 NFTs will be in high demand when the time comes.

Fonnk has been getting much-deserved love on Twitter for their impressive tribute pieces. They're a 3D artist that is worth following closely in 2022.

Cardano Sounds CNFT is an innovative project that aims to create a platform for audio artists.

Underrated

These are this week's most underrated investment opportunity and artist. This is a highly subjective section so please DYOR.

Investment Opportunity: Cornucopias

Pavia has been getting most of the metaverse attention in the CNFT community and perhaps for a good reason. This is partially why Cornucopias has largely gone under the radar, despite an impressive team and progress so far. For those who are looking for alternative metaverse projects, this could be a great option.

Artist: Pixel Head Squad

Although not underrated in terms of price, this project is still largely unknown to the greater CNFT community. Not only are these the highest quality animated pixel art NFTs I have seen, but they also have incredible functionalities coded into each NFT. The below NFT, for example, includes a Space Invader game when interacted with. Try it yourself here.

They also take a unique approach to their drop mechanics, offering each 1:1 NFT up for a blind auction. The NFTs usually go for well over 1k ADA, keeping many interested collectors away.