Follow the Hype
One of the most exciting drops of the upcoming week is Cool Pets, a companion collection to the bluechip NFT collection Cool Cats. Originally, it was slated to release on January 28th but has been pushed back multiple times. 20,000 Cool Pets will be available to mint soon, but only a fraction of that (1,500) will go to public mint. About 10k presale spots are allocated for Cool Cat holders to mint–one per Cat they own. Since Cool Pets were announced, the price of Cats has soared and it’s impossible to get one for less than 12.5 ETH ($34,000) right now.
The Pets will be a major source of utility for Cats. When the NFTs are minted, they are merely “eggs” and need to be given various items to grow into a fully-fledged Pet. These items will be purchased with $MILK tokens, which Cool Cats will soon produce, depending on their rarity in the set. Cats will soon provide (probably high) passive income and prices will react accordingly, if they haven’t already.
Cool Pets was not the only massive NFT launch happening this week, or even the only one to be pushed back a few days. RaidParty, a new project that is shaping up to be the largest on-chain play-to-earn NFT game ever, started minting a few days ago. It first auctioned off 1,111 exclusive genesis NFTs and then opened its presale a day later after more delays. The public sale should happen today, but it wouldn’t be surprising if it got hit with another delay.
The Raid Party developers have detailed a brilliant way to solve the most challenging issues play-to-earn games face. Nearly all play-to-earn NFTs accrue a token which is then used to mint more NFTs. Most of Raid Party’s competitors, like the once incredibly popular Wolf Game, build an extremely sensitive house of cards that can be quite profitable while its price remains stable. However, any drop in either the NFT price or token price drastically lowers the other, beginning an often deadly cycle. Raid Party has designed a complex mathematical system that will hopefully avoid or at least minimize this issue. It’s not just the mechanics of the game that are impressive, the art is fantastic too.
Beyond the hype they receive, NFT projects also benefit dramatically by fitting into the “meta” (trends) of the market. The last major trend in NFTs was led by the top collection, Bored Ape Yacht Club. 100s of projects have launched in the last month that either were heavily inspired by or copied from the design of Bored Apes. Even though most of these were shameless copies, a large proportion of them minted out. Teams would mash together the art styles of 2 different collections, especially Bored Apes, Doodles, or Cryptopunks–and it would sell out in minutes.
Right now, the biggest rising trend in NFTs is obvious: anything Anime related or inspired. We have two new hyped-up projects in this vein–and an entire continent to thank for it. Phanta Bears was not the first NFT project with a large intended audience in Asia, but it was the first to be a massive success. It’s backed by the world-famous Taiwanese singer-songwriter Jay Chou’s fashion brand, Phantacil; and holders also got a presale spot for another major upcoming project from the famous actor Edison Chen.
But do not forget Azuki. It is likely a more influential NFT project.
Azuki performed incredibly well right off the bat, minting out in a few minutes at 1 ETH each a little more than two weeks ago. It only took one more week for it to start to move mountains. It reached a 15 ETH price floor only yesterday. Even though it has dipped since, it holds the highest trading volume on OpenSea for the week (by far), with more than 43k ETH traded. Soon after Azuki blew up, new projects that were either created by Asian artists or inspired by Anime started to experience unprecedented success.
Zipcy’s Supernormals is a prime example. Supernormals was created by one of the most famous artists in Korea, Zipcy. She drew more than 1,000 traits that fit beautifully together to create realistic, but not understated, characters. They minted out for only 0.08 ETH in presale and are now selling for 6.1 ETH before their art “reveal”.
Finally, there are a few projects to watch this upcoming week, accompanied by short descriptions:
- It’s a mysterious collection of 7,777 mint passes that give holders access to later projects.
- Mint passes can often be a lazy way to launch an NFT without doing much else, but Haus seems to have a lot of exciting projects in store for holders.
- It was mentioned that the creator has connections to massive artists like Banksy and Murakami, but that hasn’t been confirmed.
- It’s another hyped-up collection, with anime-inspired art that fits perfectly into current NFT market trends.
- It had initial issues with its mint, where the funds accidentally went to the wrong contract, but they seem to be handling the issue well and have issued refunds to those who lost money.
- It’s a collection of 10,000 3D generative NFTs launching on Monday.
- Jordan Norwood, an NFL player who made it to the Superbowl, founded the project and he says he wants to provide holders access to IRL events, special NFT mints, social memberships, and special discounts.
- Invisible Friends is the 3rd collection under the Random Character Collective but is mostly separate from the other two drops.
- We don’t have a release date yet, but we know it’s planned for February.
- It could easily be one of the biggest mints of February and has a small supply of 5,000.
- It has 250,000 plus people in its Discord server and almost 370k Twitter followers, more than nearly any project we’ve seen this year .
Want to keep up with Henry and NFTs 24/7? Join him in AlphaMint’s dedicated NFT Discord server.