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  • NEW INNOVATIVE NFT PROJECT + RAGNAROK META IS FLYING! IS THIS THE NEXT BIG NFT GAME?

NEW INNOVATIVE NFT PROJECT + RAGNAROK META IS FLYING! IS THIS THE NEXT BIG NFT GAME?

scoop 29 04

April 29, 2022

Disclaimer

The information contained in this NFT Scoop newsletter or podcast is not financial advice, it is provided for educational, informational, and entertainment purposes only.

The information contained in or provided from or through this website and podcast is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.

NFT’s can be highly illiquid markets, causing sharp drops in prices due to changes in narratives and trends.

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Weekly Market Update

As the above chart shows, the % of projects with increased volume and decreased listings remained fairly consistent over the 7-day period. What is clearly noticeable is that the % of projects with an increased floor is down quite heavily from 45% of projects to 26%. As previously advised we anticipated to see quite a lot of liquid drained from the space due to the upcoming Land Sale which is taking place this weekend. We expect some further turbulence as the market enters a period of uncertainty.

Breaking News

France's re-elected President Emmanuel Macron has stated NFTs, Web3, and the Metaverse is an “Opportunity not to be missed for Europe”.

OpenSea announced it had acquired NFT marketplace aggregator Gem for an undisclosed price. A copy of the announcement can be found here.

David Beckham has become the latest celebrity/sports star to file for Web3 and non-NFT-related trademarks.

Weekly Winner

This is a project we covered in our newsletter alpha section on 18/02.

The project’s Phase I minted on 27/04 at 18:00 UTC at a price of 0.77 ETH and dropped 2.5% every 7 minutes, stopping either when it reaches 0.21 ETH or sell out.

It is fair to say the launch of Phase I was an extreme success with the project minting out almost instantly and within 5 minutes the floor was sitting above 1ETH.

Phase II took place on 28/04 at 18:00 UTC where Pixel members were able to mint 1 Ronin for 48 hours. This phase has been an enormous success and the floor now sits at 2.9eth.

We will be covering more detail in our Floor to Watch section but the above confirms why this project is most definitely a weekly winner.

Weekly Loser

As per their Twitter bio, this project is “A 5,555 piece collection depicting the adventurers of the Great Pond.”

The project undertook an interesting strategy of having an instant reveal.

The price was set at 0.15 and there was some initial pump following minting with the floor rising to 0.4. However, following the instant reveal paper hands and those undercutting each another have driven the floor price right down to 0.08 which is just over half of the mint price.

The floor has failed to recover and it is unlikely to see any announcement that can lead to recovery here.

Floors to Watch

Adidas Originals announced that the final day to claim physical merchandise and pass to enter phase 2 was 28/04.

Volume has been really strong leading up to the phase change with activity showing a real steady flow of sales and the floor price floating between 1.7 and 2ETH.

With the success Nike has had in the space in recent times, Adidas as a global competitor will not want to be left behind so it will be intriguing to see what they have in store for Phase 2 of the project.

The timing of the launch of Phase 2 will be pivotal given the upcoming Yuga Land sale which we predict will drain a lot of liquidity from the space.

There could be quite a bit of fluctuation in the short-term but the floor had now dipped below 1.4ETH. This may prove to be a good long-term play given that the clothing giant will not want to be left behind its main competitor.

It also cannot be ignored that Adidas has already partnered with the Bored Ape Yacht Club in their inaugural ‘Into the Metaverse’ collection, alongside Punks & G Money. We would expect the brand to leverage this connection within their future plans. Should this be the case, Adidas will have no issue rallying back to all-time highs and beyond.

Current Floor: 1.35ETH

As per our weekly winner section, we are going to dive into a bit more detail regarding this project.

As per our previous newsletter informing you of the project a few months ago “The 7777 collection is not just made up of an anime-themed pfp project. These NFT’s will also double up as an in-game character. Holders will be able to explore the Ragnarok world, combatting monsters and winning NFT Amulets along the way. They will grow and evolve, as the experiences they have shape and change them, advancing and gaining XP. As the character progresses, the possibility of changing classes opens up. They can specialize to become, say, an Assassin, or a Hacker. There will also be an in-game cryptocurrency that can be traded on Dextools to make in-game purchases. This token will have high utility in the games ecosystem. Moreover, the Ragnarok team is made up of 29 members and they are adding to this frequently.”

The 2nd phase is currently minting and we would expect to see the floor keep pushing new boundaries until reveal.

Given we have not seen a project like this in terms of in-game utility, the popularity is suggesting that this will be a long-term success. Further, given the size of the team, future developments will only improve the gaming experience.

Current Floor 2.9eth

We will delve into this project in the alpha section however this is definitely a project to keep an eye on given the potential collaborations.

The overall floor is not a true reflective price as this changes depending on the collection, For example, an accessory for a Bored Ape may be more desired than that of a smaller project such as Pudgy Penguins.

Smart plays are possible on this one, if you are able to identify projects that are going to do well or where there is going to be a demand for unique accessories then there are a variety of opportunities for you to explore in the 18.4k collection.

Current Floor Price 1.15 ETH

Alpha

As per their bio - “World-renowned craftsman Wagmi-san, famous for the most grailed accessories, recently set up a shop in New Tokyo called 10KTF”

This is how the 10KTF shop works…

Each item available on the 10KTF collection requires the user to own a ‘Blank’ such as high tops, backpacks, or socks. In order to create the final NFT product, the user must have the corresponding parent NFT in order to create their derivative accessories. For example, for Ape High Tops, only owners of a Bored Ape can create and mint an Ape High Top. Moreover, only one Ape High Top can be minted for each Bored Ape, so there can be at most 10,000 Ape High Tops created, one for each respective Bored Ape. In addition to the 10KTF collection, Wagmi-san's customers that hold 10KTF Stockroom tools and materials can now use them to craft blank items. Blank items can be used to create their desired derivative NFT.

Ape Daypack #6470

Those with close attention to detail will notice that in the Otherside trailer for the upcoming land sale will notice that there appears to be some 10 KTF traits throughout, this being a Wagmi San scarf on the Koda avatar within the video, additionally the ‘Drink me’ vile featured in the video is also seen in Wagmi San’s shop. Whilst this is of course speculation, could Wagmi San / 10KTF be the first accessory/metaverse clothing store in the Otherside Metaverse? Given the scarcity of the Bored Ape, or Mutant Ape accessories, this may prove to be a strong mid to longer-term investment.

Links:

New Innovative Project

Hybrid Humans (Discord Closed) - But the Scoops got you!

We caught up with the founders of Hybrid Humans earlier this week. First off, we have to say we were very impressed with the founding team, it’s an immediate plus point when the team behind the project isn’t afraid to doxx themselves and are proud of what they are building. They come with some great IRL business experience having both operated on senior leadership teams.

Hybrid Humans is minting in Summer ‘22, and is a project looking to genuinely innovate in the space.

The premise is simple, but the details are beautifully complex.

Bringing established profitable web2 business models to web3 and in doing so benefiting the holders of the Hybrid Human collection through a variety of unique features and benefits.

The first ecosystem they have announced is called HyHu raffles, a pay2play raffle site, open to both holders and the public, with NFTs as the prizes. Raffles are something that is already used daily in the space, but not how HyHu has planned. For less than the cost of gas, you have the opportunity to win a variety of blue-chip NFTs as well as a number of runners-up prizes including up-and-coming collections and entries into future draws. Taking place on-chain the draws will be fully auditable with prizes being automatically sent to the wallets of winners.

But how does that tie into the Hybrid Human NFT collection? So far the team has announced 2 out of the 10 utilities they have planned for phase 1 of the project.

The first utilises 50% of the weekly profits from the public pay2play raffles, as well as 50% of the royalties on secondary sales, to fund weekly free-to-enter draws for all holders. These prize pools are expected to contain similar prizes to the public raffles.

The second, exclusive for holders of certain rarity NFTs from within the collection, allows holders to leverage the HyHu public raffles and receive up to 150% of the value of any NFT in their wallet. Eligible holders submit any NFT they own from their wallets.

HyHu raffles then pay 100% of the value of it upfront, meaning no risk to the holder.

Once the draw has taken place, depending on ticket sales, the holder will receive up to an additional 50% of the value of the NFT they submitted.

With so many more utilities to be announced we’re excited to see what the team has planned!

The core team has a wealth of experience in both the real world and Web3 spaces - they're quietly building a core community at present all through word of mouth. Oh and also the art is by veteran comic artist JL Giles who’s been on marvels books since 2015. With 10 different animal heads on human torsos and up to 500 traits, the variety is set to be outstanding.

Official Links

  • KYC Wallet Needed

  • Time - 9PM ET

  • Sold in $APE token - 305 $APE per Otherdeeds NFT

  • Initial ‘Phase 1’ - 2 Mints per wallet ‘Not per transaction’

  • 55k available

  • Once ‘Phase 1’ is complete - ‘Phase 2’ Starts

  • The remaining NFTs available will be released

  • KYC’d wallets can then mint up to 4 additional NFTs

Minting Registrations

Make sure to sign-up for the Kahiru pre-mint raffle. Closes May 2nd 4pm UTC. To register in the raffle you must have at least 0.14 ETH in your wallet. During the mint day, make sure you have more liquidity to pay the gas fees. You must also be following their twitter Good Luck!

Today’s Scoop newsletter was written by @thebarbell_ & @DAWA

Thanks for reading! See you next time!