While we gear up for the launch of this week’s most exciting NFT drop on Friday, Cool Pets, let’s take a look at what happened the past few days. (If you want to learn about Cool Pets before it launches, don’t worry, it won’t fit in this column, but it will certainly be in the next.)
The big news in the NFT space this past week has been around a few hyped-up NFT launches, as well as major companies diving into web3.
Twitter finally launched its NFT profile picture verification feature after months of anticipation. Users with Twitter Blue, a paid subscription, can connect their Ethereum wallet and choose an NFT to make their profile picture. Now holders can prove that they own their NFTs for the low low price of $2.99 a month. Possibly the best part of this new feature is that the millions of Twitter users who don’t yet know about NFTs will get to learn about the tech.
Hapebeast became one of the most successful NFT launches ever on Tuesday. It’s one of the best examples showcasing the collision of the NFT market and high fashion. It got its name from young pioneers in streetwear fashion, usually called ‘hypebeasts.’ The project is also heavily inspired by the famous Bored Ape Yacht Club collection, but it uses high definition 3D art instead. They minted out at 0.2 Ether a piece and almost immediately were trading for more than 6 Ether on the secondary market.
Ozzy Ozbourne, the world-famous singer-songwriter, released the second most popular project of the week, appropiately named CryptoBatz. He got the inspiration for it from a gross stunt he performed in 1982. Thinking it was fake, he bit the head off of a live bat on stage. The bats’ utility is inspired by the stunt. Each CryptoBat can ‘bite’ an NFT from one of a few different collections, creating a new NFT with a mix of traits from each. They minted out at about 1.6 Ether and eventually dipped to 1.2 after the artwork was revealed.
The market was dominated by hyped-up new launches this week, but there were also a few existing projects that performed incredibly well. Creepz is a collection of 11k generative reptilian characters with tons of unique traits. Despite its bizarre and unappealing art, its floor price skyrocketed this week, almost reaching 8 Ether. It’s one of many recent play-to-earn game collections where each NFT accrues tokens that can be sold or used to buy other NFTs. The token has held its value incredibly well, which helped drive up the price of the genesis NFTs that produce it.
A Proof Collective Membership NFT does not resemble most successful NFTs nowadays. i.e., this NFT doesn’t derive its value from its art or accruing interest. Instead, it gives its holders access to one of the most exclusive collectors groups in the world, the Proof Collective.
If its founder was a random person without any influence, memberships would be close to worthless. However, Proof Collective is run by one of the most famous influencers in the NFT and web3 sphere, Kevin Rose. He brings in massive partnerships and benefits for the group, with his name alone. It also helps that the passes are extremely scarce. There are only 1,000 available and most holders want to remain forever in the group. The exclusivity, scarcity, and value of the passes caused them to reach a floor of 20 Ether yesterday, up from 7 last Monday.
Finally, there are a few projects to watch this upcoming week accompanied by short descriptions:
- Cool Pets will be companions to the bluechip NFTs, Cool Cats
- They will be a major piece of the Cool Cats ecosystem
- Presale is on January 28th
- This is a highly anticipated launch!
Reincarnated as an NFT (RAANFT)
- RAANFT is a 3D art focused NFT project inspired by anime
- It is dropping at the perfect time after another anime-influenced project, Azuki performed incredibly well last week
- Its intricate art has brought in almost 90k people into their Discord server so far
AO Art Ball
- AO Art Ball is a collection launched mainly as a promotion for the Australian Open tennis tournament
- Each NFT represents one small piece of the tennis court
– If the winning shot of a match lands on your NFT’s plot, the image and information of your NFT will be updated
- Its floor dropped precipitously, likely in response to a lack of volume following the tournament opening, but the finals Sunday may turn the project around
Nostalgia by YMH
- Nostalgia is similar to Proof Collective, acting as a membership pass to a private investing Discord server
- It’s run by Sheldon Evans, a popular influencer and podcaster
- It failed to mint out at 1 Ether and has cut supply by more than 70% in response
Want to keep up with Henry and NFTs 24/7? Join him in AlphaMint’s dedicated NFT discord server.
By: Henry Stater and William Laurent