WGMI Rating:
Mint Details
Mint Date
WL Mint Date:
May 23rd, 13:00 UTC for 12 hours.
Public Mint Date:
May 24th, 01:00 UTC for 24 hours.
Supply
5,555
Mint Price
WL mint price is 0.06 ETH
Public mint price is 0.075 ETH
What is Shindo?
Shindo is a collection of NFTs inspired by Japanese mythology. Featuring a cute art style, each token is based on one of five Japanese beings: Tengu, Daruma, Maneki-neko, Kitsune and Komainu.
The story behind the project is that these five “factions of gods” have become bored living within their own realms. Seeking excitement, they travel to The Metaverse and create an arena called the Shindo. Holders, known as “disciples”, will be required to assist the gods in finding seven scrolls, each based on an element. In the arena, disciples will face challenges with the winners bringing glory to the gods as well as themselves.
The team is promising that 50% of royalties will be reinvested to fund prizes, whereas the other half will be shared between the team to ensure they have the funds to maintain the project. Staking will also be involved via a ‘Gacha Spin System’, more commonly known as a lucky spin wheel in the Western world with prizes such as merch, WL spots, ETH and NFTs on offer.
Shindo has 29.5K Twitter followers and 22,282 members on Discord.
Roadmap
Shindo’s core team consists of three members, two founders and an artist. Despite the modest size, they still have the ambitions of a larger project. The members are:
Phase 1
This focus of phase 1 was to establish the project’s presence in the Web3 space.
- Twitter launch
- Discord launch
- Website launch
Phase 2
The second phase was to build and develop the community of Shindo through marketing strategies.
- Collaborations
- Community activities
Phase 3
This phase will mark the start of the mint period. Beginning with a 12 hour slot for Whitelists followed by a 24 hour public mint window. Phase 3 will also introduce a group for holders where Alpha discussions will take place as well as calls on Crypto.
Phase 4
On completion of mint, the team will look to introduce staking utilities to the project. Staking will be done through a gambling system and prizes such as merch, WL spots, ETH and NFTs can be won. 50% of OpenSea transaction fees have also been pledged by the team to go back to the community.
Phase 5
The final phase of the roadmap currently has no information although exciting things are promised.
Team
The team at Shindo have outlined a 5 phase roadmap. Phase 1 and 2 have already been completed with phase 3 culminating with the mint period.
Co-Founder – Bosco
Finding himself in the world of Blockchain after earning a degree in financial planning followed by 8 years working in asset allocation and investment, Bosco co-founded Shindo. With the skills he has developed, he now manages operations of the project. Unfortunately, no social links could be found for Bosco.
Co-Founder – Leiko
Leiko is a self confessed weeb, meaning someone from outside of Japan who is obsessed with Anime. He dropped out of school before completing his degree in Computer Science but was still able to create his own IT company. Leiko is now focused on diving head first into Web3 with Shindo. Unfortunately, no social links could be found for Leiko.
Artist – Sashimi
After graduating from Kyoto Seika University with a graphic design degree, Sashimi worked for luxury Japanese brand Sacai as a backend designer. In 2021, Sashimi entered the world of Web3 and gained recognition for his amazing NFT artwork. Unfortunately, no social links could be found for Sashimi.
Analysis
Bullish case
With artwork that is quite frankly adorable, there are likely to be at least a handful of traders and investors that will want to jump on board, especially given the fairly low cost of mint.
Another thing to be bullish on is that the project’s roadmap promises the opportunity for holders to win WL spots on other projects as well as NFTs which does sound promising, although it is unknown what these will be. Shindo has also collaborated with some decently hyped projects in the space via giveaway which does build trust despite the relatively small size of it.
Lastly, as we all know, often projects are made and broken by their community, and the residents of Shindo do seem engaged which does provide a glimmer of hope when combined with the cost effective mint price.
Reservations
There are a number of things that are likely to hold Shindo back from becoming a successful NFT project.
First of all, looking at the team, there are a number of reasons to be concerned. Whilst they are no doubt a talented group, the lack of information on their backgrounds within the NFT space is a red flag, especially considering the fact that no Twitter bio’s are listed for any of them but rather, all just link back to the project. Social media is of course not for everyone, however, it is almost a necessity for anyone looking to build hype and launch a project. The actual project’s Twitter account has a following of 29.5K which isn’t bad but does fall into the smaller size considering we are so close to mint.
Also we must look at the roadmap. For most projects, the roadmap begins at mint but for Shindo, we are already at phase 3 of 5 which leaves very little at the table outside of the opportunity to win prizes. While promising, we have little to no information on the scope of projects that WL spots and NFTs will be rewarded. Afterall, the likelihood of winning an outstanding WL or NFT is unlikely.
At the end of the day, Shindo suffers from being just another NFT collection in an ever growing sea of drops. In order to succeed and rise above the crowd, a project must be exceptional, now more so than ever and unfortunately, outside of a subjectively attractive art style, Shindo appears that it is not.
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