WGMI Weekly Wednesday Newsletter
May 25, 2022
NFT of the Week: Chimpers
Chimpers is a collection of 5,555 PFP NFTs, and is a sequel to the 1/1 Chimpers Genesis collection. The Chimpers are best described as pixelated monkeys or chimps which are heavily influenced by retro pixel games.
Why Chimpers is our NFT of the Week
Chimpers is our project of the week because of their successful recent launch. Chimpers became highly coveted by traders and almost immediately shot up above a 4 ETH floor price. Chimpers held the #1 spot on OpenSea for over 24 hours, and there has been more than 7.6k ETH of volume traded since their launch. Aside from Goblintown, Chimpers was the most popular project that launched during this past week. Chimpers is created by the same team from The Boring Ape Chronicles. The Boring Ape Chronicles are a collection of six unique creative pieces of art that tell the story of Bored Apes embarking on a quest in search for the Diamond Fleece. The Diamond Fleece is said to be the ultimate source of wisdom and power. The Bored Ape Chronicles is not merely just artwork, but also embodies a variety of stories and lore based on the Bored Apes. The original 1/1 genesis Chimpers were only able to be acquired by burning a Diamond Fleece – which currently has no listings on OpenSea, and a previous sale of 45 ETH showing the massive amount of value attributed to this collection. It is clear that the Chimpers Genesis collection has brought major attention to the Chimpers collection. Previous collections created by Timper’s (the founder of TBAC) usually require owners to mint a series of items to obtain a chance to mint more exclusive items. Likewise, owning a Chimpers means that you’ll be able to join a raffle or even get a whitelist for their upcoming project. Other than that, since the previous collection has sustained a high floor price, it wouldn’t be surprising if Chimpers also manages to replicate the success of Timper’s other collections.
Chimpers in numbers
Floor Price (May 25, 2022)
Volume Traded (May 25, 2022)
Chimpers was created by a team of three individuals. The team consists of Timpers as the artist, Insight who is their writer and community mod, and Ser Joey, who manages strategy and operations.
An experienced artist who started out making designs for social media and YouTube tutorials. He grew up playing Pokemon and other retro games. Timpers thanks pixel art games and anime as inspirations for his art. He created one of the most successful collections, TBAC, a derivative story about the BAYC apes.
Having a passion to write, Insight joined the NFT space to practice his craft on June 2021. From then on, he began interviewing huge names in the space and made educational content which was published by Decrypt, Cointelegraph, and 137PM. After getting used to the NFT space, Insight was recruited by his brother, Timpers, to help him build the lore behind the TBAC world.
Joey joined the NFT space in February 2021. Joey set up the OG punk charts, minted three bored apes, and threw himself into the NFT space where he studied credible people and major projects. Previously known for making a regulatory website for information and networking, Joey now contributes to Chimpers in managing strategy and operations.
YouTubers and influencer tweets have managed to raise the awareness and hype around Chimpers.
Their previous collection, The Chimpers Genesis (an exclusive 1/1 collection), has caught the attention of the NFT space – as the floor price reached over a 40 ETH at one point. As for the Chimpers whitelist, it was obtainable only by owning one of the previous collections of Timpers and/or holding a BAYC which granted holders the ability to join an exclusive raffle for a chance to mint.
The Team stated that they want to under-promise and overdeliver. That being said, the official roadmap isn’t something they wished to disclose as roadmaps often contain too many empty promises.
Recently Launched Projects
Fat Cats are a collection of 5,000 diverse cat NFTs with a nostalgic Disney feel to the artwork. Each Fat Cats NFT acts as a pass to the exclusive Fat Cats DAO.
Fat Cats DAO
The purpose of this DAO is to invest in blue-chip NFTs that are typically too expensive for the average investor. Fat Cats offers fractionalized ownership of all blue-chip NFTs that are comprised in the Fat Cats portfolio/vault. Holders of Fat Cats will be able to vote on the decisions made by Fat Cats DAO, including:
- whether to buy, sell or hold collections from the Fat Cats vault; and
- whether or not the profits should get reinvested or if profits should be divided among holders as dividends.
Holders will receive benefits from the DAO in proportion to how many Fat Cats they own (more Fat Cats = more votes + more benefits). Another perk of holding Fat Cats is exclusive access to their private Discord and holders-only channels. The Fat Cats team behind this project is fully doxxed and has backgrounds in fine arts, marketing, development, banking, finance, and investing.
The DAO will be funded with 70% of initial mint profits, as well as 100% of all secondary royalties. Aside from blue-chip NFTs, some of this funding will go towards purchasing metaverse land to develop a community estate for holders.
The Fat Cats project could have a decent potential for growth should the NFT market experience another bull run similar to what we saw at the end of 2021. This is especially the case considering blue-chip NFT project floor prices are considerably cheaper right now during the current bear market. One downside to DAOs like this is that if the market continues to trend downwards, there is little to no money to be made flipping blue chips.
Fat Cats Launch
During the first two hours of launch, Fat Cats had already minted out over 20% of their supply. The secondary sales started off strong at 0.15 ETH before dipping down to 0.1 ETH. By the time the presale mint phase ended, there were over 2,000 NFTs minted. The public mint phase ended almost as quickly as it began, selling out the final 3,000 of the collection in under 15 minutes! This rapid sellout is quite impressive considering the current state of the market and the fact that most projects these days do not even come close to minting out. Upon sellout, the floor price once again pumped all the way to .15 – it has since bounced between 0.12 and 0.15 ETH.
Total Supply: 5,000
Public Mint Price: 0.08 ETH
Current Floor Price: 0.146 ETH
Sixth Reseau – what went wrong?
The Sixth Reseau is a collection which was originally meant to have a total supply of 7,777 3D fashion mannequin NFTs. The original plan for Sixth Reseau was for minters to receive an animated hoodie airdrop after the mint phase which could be redeemed for a real-life SixthReseau hoodie. Unfortunately, because of the way the mint played out, this decision to distribute the free hoodies was voted against so holders are now having to pay for the physical hoodie.
The team also plans to activate RéseauGold, an elite club for all season 1 and genesis holders. This club offers members access for all Réseau events, Réseau Magazines at a flat rate, access to the RéseauGold AlphaGroup, and monthly lottery entries. Looking into the roadmap, we are told that Sixth Reseau will have its own metaverse as well as exclusive wearables for holders such as pyjamas, underwear, socks, balls, and sports equipment.
All in all, there is nothing original or promising about the Sixth Reseau roadmap – it reads like every other slow rug in the space. High mint price, Dutch auction, merch, token gated discord, alleged real-life events, and future airdrops are all significant indicators of an obvious cash grab project that will be unable to deliver on most of its promises. This was further proven when the team decided to make minters pay for what was originally supposed to be a “free hoodie” after they were only able to mint 30% of their intended supply.
Sixth Reseau Launch
The Sixth Reseau mint was underwhelming to say the least. With an overly complicated mint structure and rather high supply, it was not much of a surprise that this project did not live up to expectations.
The mint phase began rather rocky with a delay caused by an AWS-Hosting issue. Very few whitelists minted during Private Sale I, and only 62 NFTs were traded on secondary during the first three hours of their mint phase going live. By the time Dutch Auction began at 0.4 ETH, the floor price was already below the mint price on OS, and very few traders decided to mint. By the end of the day, there were under 200 NFTs traded on the secondary market on OpenSea. The team realized their project was failing miserably and decided to have the community vote on what they should do going forward with the mint. The community voted overwhelmingly to lower the mint price to .05 ETH for the remaining supply. Unfortunately for the team, this change made little difference – and only 1,700 NFTs were minted in total.
This outcome is not at all surprising considering the Sixth Reseau roadmap hinged heavily on merch from a previously unestablished brand. They presented that their clothing line was already well established, but when asked by Mr. Fud how much their team had made from clothing sales in the past, the team replied they had no prior sales. Those currently holding Sixth Reseau NFTs should tread with caution.
Total Supply: 7,777 (sold 1,857)
Whitelist Mint Price: 0.16 ETH
Public Dutch Auction: 0.4 ETH to 0.16 ETH
Public Mint Phase: 0.05 ETH
Current Floor Price: 0.05 ETH Website: https://www.reseauclo.com/ Twitter: https://twitter.com/sixthreseauOpenSea: https://opensea.io/collection/sixthreseau-lost-identities
Goblintown.wtf is a collection of generative 2-D avatars of ugly low-brow goblin characters. The project has no roadmap, no Discord, and no utility outright. All holders are given CC0 (Creative Commons) rights. Goblintown has very distinguishable art in a space filled with cutesy style characters and NFT projects.
The state of this down-market had some saying that we were already living in “Goblintown”. Then in comes this free mint with fresh art and timely vibes to liven up the mood for investors. Those who visited the Goblintown.wtf website were greeted by a fun page that set the mood and tone early.
This fully anonymous team has a clear sense of brand building. This timely meme ended up fitting the mood of many NFT investors and ended up gaining a lot of support on crypto Twitter. There have been rumors of airdrops and even speculation that the team has some relation to Yuga Labs or ties to other influencers like Steve Aoki.
Many of these rumors are still yet to be confirmed, and although it has been dismissed by some, it was enough to create FOMO in the market, and it ended up raising the floor price of this free-to-mint collection as high as 0.8 ETH at one point. The collection has since settled a bit since its ATH (all-time high), but is still amongst the top volume performers on OpenSea for the week. There might be more momentum left in the tank for this project, but buyers will have to continue to watch for announcements on the collection’s Twitter page while riding the waves of speculation for now. At the very least, buyers will have their adorably ugly avatars to keep them company while there is turbulence in the market.
Upcoming Projects: Bangers
Born to be Me Brand (MEE NFT)
BornToBeMeBrand, or MEE for short, is a utility-based NFT that will be focusing on building its own clothing brand. As stated by the team, “4,000 MEEs that will change clothing brands forever”. MEE NFT has been getting a lot of attention, reaching over 52K followers on Twitter. A bullish point of this project is contained on their Twitter bio which states “Official partners of @llamaverse_ @illogics @DobiesNFT”. They even tweeted that there would be another partner in addition to those three projects which are highly regarded in the NFT space.
It seems that the MEE team will be handling clothing and merch for some of the projects that they’ve partnered with. Other than the partnerships mentioned prior, MEE NFT also managed to score collaborations with a lot of other projects and influencers like BentoBoi, Loomi Heads, Yogies, KATATONIK, KurokiNFT, etc.
Although they closed their Discord server, sneak peeks of their NFTs and their apparel designs are available for viewing on their Twitter page. Their 4,000 NFTs are characterized by a sitting model wearing a mask and modern streetwear. Bright colors are associated with thin strokes, giving this collection a cartoony aesthetic. As for their apparel, they have only tweeted one design thus far, and it looks very similar to their NFTs which also focus on streetwear with thin lines and trippy illustrations.
Jikan Studios is a collection of 8,888 PFP NFTs which is launching by the end of May 2022 according to their Discord. Jikan has been rapidly gaining attention with over 100K Discord members and 265K followers on their Twitter page. They will be launching on Hydra Launchpad, which uses SOL instead of ETH, and they have stated that minting will be done directly on Magic Eden – an OpenSea competitor on the Solana Network.
Jikan Studios offers PFP NFTs of futuristic humanoid monkey-like characters that hold a variety of unique weapons. The lore explains that the monkeys are troopers who are able to jump through the realm of time, which explains how the team seamlessly integrates primitive humanoids with modern traits in each of their artwork.
Information on the team is yet to be disclosed. Their roadmap currently only describes the lore and not much else.
Jikan lets the community interact through several events such as fan art competitions, where a winner’s fan art could become part of Jikan’s 1 of 1 Collection that will eventually be auctioned – and the artist will receive all the proceeds for his/her fan art. Jikan Studios also featured Solana Yacht Club on their latest AMA. Other than that, Jikan also managed to secure collaborations with the likes of CubeX, MaisonGhost, NFT Wizards, MEE, etc.
You can dive a little deeper on Jikan in our dedicated Spotlight.
Upcoming Projects: Hidden Gem of the Week
Etherjump is a fully “customizable platformer NFT project” which is a first of its kind. This game allows players to build their own platformer game through a level design interface which can then be minted as a playable NFT on OpenSea (similar to that of Generative Dungeons). The genesis mint will consist of 5,555 plots at 0.08 ETH each, which will allow holders to access the customizable level builder. The plot will include a tutorial level to teach players the basic game mechanics, and about the various items within the game. Holders of the genesis plots will be able to claim a free avatar that will have randomized cosmetic traits. Avatars are playable throughout the Etherjump ecosystem and will be integrated with the game’s $JUMP token.
Players will be able to earn $JUMP tokens by playing on Etherjump plots with their avatars. Rarer plots will earn more $JUMP tokens at a higher rate. Each plot will only be able to earn a capped amount of $JUMP every day. $JUMP can be used to purchase exclusive items that can be implemented into custom levels.
After players have designed their game, they can save it to their wallet as an NFT which will be playable on OpenSea. Etherjump levels can be combined to create a “world”. When a player completes a level within a world they are automatically teleported to the next level within the world. Since each individual level earns $JUMP separately, owning worlds results in increased benefits for holders.
The Etherjump team plans to continuously add new items to the game, allowing builders to keep their levels new and interesting throughout the progression of their roadmap. These new items will ensure that the game does not become stale or get too repetitive over time. Players can also upgrade their scene counts, grid size, and enemy counts on their individual Etherjump levels. Upgrading these aspects of Etherjump levels will increase the amount of $JUMP yielded by the plot.
Etherjump plans to build a free-to-play MMO-style gaming lobby as a way for players to explore the ecosystem in a more captivating and social way. Another bullish point about this project is that the game is already playable for free on their website – signalling the team’s confidence in the enjoyability and playability of their game.
@bobster_nft great goats looking nice!
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