WGMI Rating:

2.8/5

Mint Details

Mint Date 

Presale: August 24th 2022 / Public sale: August 25th 2022

Supply 

15,000

Mint Price 

100 USD

What is  Hello Kitty and Friends NFT?

Hello Kitty is one of the most recognizable characters in the world. She’s fearless and loves creating new memories with her new friends. Hello Kitty and Friends “can make you feel fearless, too!” a blog post on its website states. 

Rooted in traveling and experiencing new cultures, Hello Kitty awakens an appetite for adventure and friendship without borders. Hello Kitty and Friends World brings the friendship and community of the world’s favorite characters to the NFT space. 

Starting August 25th, fans will be able to pack their digital bags and travel alongside Sanrio’s most beloved characters on a globetrotting NFT experience. Hello Kitty and Friends is going to be a 15,000 collection from the world famous franchise to send the cartoon cat on “a journey around the world” and into Web3. 

The collection is going to consist of Hello Kitty and five of her friends. The function of the project will be virtual tour guides and adventures as it is set to feature locales from eight different cities around the world. Fans will be able to mint and collect Hello Kitty characters, then earn new digital collectibles by completing various tasks.  

Two tokens will exclusively be available for RECUR pass holders. The details regarding the characters and locations of the NFTs will be announced in its Twitter page leading up to the drop. 

Roadmap

While there is not an official roadmap stated at present, what we do know about the collection is there there will be:

10,000 unique profile pictures.

Each profile picture will feature 1 of 6 favorite adorable Sanrio characters in their typical kawaii (cute) style.

Characters can fly to 8 different cities around the world through two week-long challenges. 

Team

To launch this project, Hello Kitty (Sanrio) has partnered up with RECUR.

RECUR 

RECUR “removes boundaries of fandom”. It builds on-chain branded NFT experiences that allows fans to buy, sell, and engage with digital products and collectibles through NFTs. RECUR is the premier Web3 platform for creating innovative, multi-chain NFT experiences for all, from the world’s largest brands to individual creators and fans. It has already powered Nickelodeon NFT, guiding it to launch successfully. In addition, the Care Bear NFT collection is due to launch on RECUR next soon. It’s safe to say that Hello Kitty is in good hands.

About Sanrio

Founded in 1974, Sanrio is a global lifestyle brand and creator of Hello Kitty. Sanrio is also the home to many other beloved character brands such as LittletwinstarsMy MelodyAggretsuko  and more. Sanrio has years of experience in its industry and it has an extensive lineup of around 50,000 products available in 130 countries globally. 

Looking at the track record of these two powerhouses, it’s likely that Hello Kitty and Friends will launch smoothly.

Analysis

Bullish case

Hello Kitty is a globally recognised and loved character. There are many die hard fans and enthusiasts around the world (especially in Asia) who enjoy collecting all things Hello Kitty. Hello Kitty has an incredible 2.2 million followers on Instagram and a solid 250k followers on Twitter. This is a huge existing Web2 fanbase. If Hello Kitty are able to market its NFT collection to this audience and make the minting experience user-friendly through education, then it is likely that this will sell out immediately. 

The fact that Hello Kitty has partnered up with RECUR makes the likelihood of success far greater. This is because RECUR is Web3 native, meaning that it understands Web3 culture, what works and what doesn’t. For this reason, it is likely that the marketing methods and strategic decision making is going to be relevant and suitable to an appropriate target audience. Therefore, the WGMI team anticipates that this collection will launch successfully. 

Reservations

The potential concerns regarding this project do not stem from the mint, but rather from the longevity and sustainability. The mint is highly likely to be successful for the reasons mentioned above. However, one way that it could potentially fail is if Web2 marketing methods are adopted and the existing fanbase is not targeted correctly. Examples of this can be seen by recent failures such as Chris Brown’s NFT project, as well as Liverpool FC’s collection. This is highly unlikely given the fact that RECUR will be responsible for deployment. 

The longevity of this collection raises a potential cause for concern. The function surrounds jet setting and traveling to different cities around the world. In reality, who has the time, resources, or even the desire to participate in such a challenge which will see them moving from country to country for NFTs. While this may appeal to a small audience, it is unclear whether this is something that many people will be able to do or willing to do. 

Saying this, as there are many Hello Kitty collectors out there, they may simply want to just purchase and own the digital collectible without actually using the utility.   

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