CNFT News – Week of May 16, 2022
First of all the bad news. Cardano lost nearly 50% over the span of 9 days due to the crashing of the Terra Lumen coin. As a result of this more and more creators are thinking about adjusting project mint prices to ensure hard costs can be covered. Development, community mods and designers require compensation and the amount of compensation value remains the same, even though ADA value has dramatically changed. The domino effect of of the crypto is far reaching and the CNFT space is certainly feeling the pinch.
ADA holders, however, are for the most part in it for the long haul and know things will recover. So charge on we will.
NOTE: None of this is financial advice. This post is for entertainment purposes only and as always… we highly recommend everyone do their own research.
There are two interesting things happening for projects already minted. First is “BrightLeaf Laboratories,” a project with heaps of promise that after their initial mint couldn’t sell out with less than 1000 left to be minted from original 5555 supply. The team announced they have decided to burn their remaining supply, which in turn could create an excellent buying/selling opportunity on secondary markets. You can currently buy one on secondary for less than 50 ADA, which could end up being an excellent move with supply positioned to drop.
Next is “Bumping Uglies” a project which ticks nearly all boxes. Doxed team, big active discord. They already dropped a game for Season 1 and next up is Babies Land (31st May) and with them comes 27 Play-to-Earn games. They plan to mint another 5000 Uglies, but if you don’t want to wait that long just buy 1 of the secondary for roughly 30 ADA.
For more info check their website: https://bumpinguglies.co/
News about upcoming Projects:
The project Growing Pains is planning another Drop called ParaPains. To get whitelisted just hold a Growing Pain (excerpt from their discord) “1. First option, and one that we’re leaning to: 1:1 Growing Pains to ParaPains (WL to have capped amount) This may still have to be first come first served, but should leave plenty for you GP holders, as ParaPains collection will be larger.”
Promising Projects this week are as follows:
My Personal favorite is Junkies coming from the same Creator as VeggieMates. If you want to get WL there, but don’t have enough luck to win it anywhere you can buy a VeggieMate. But don’t forget that the snapshot will be taken 24-48 hours earlier and you have to mint from the same wallet. Don’t worry you have 24 hours to mint! Another benefit of WL is a cheaper mint. VeggieMates has a floor above 100 so if we expect the Junkies to perform similar this could be a strong mint.
Next is Monokeros and STAKI to be frank I don’t think they will perform the same as the Junkies. Why? Well first of all is the supply. While it looks good for STAKI with about 6000 in the discord for 3333 supply, Monokeros have a supply of 5555 with close to 5000 members in their discord. But still their Members are active and the art is cute. They plan to do a DeFi pass minting later as well as a borrowing and lending platform and much more. That’s it about Monokeros but STAKI still has a twist, although the minting price from STAKI (70 ADA) is higher than Monokeros (48 ADA) there you can only mint 7 basis models with NO traits. The Reason is simple: the plan is to mutate them in Season 2.
Thanks for stopping by and have a great week!