WGMI Weekly Wednesday Newsletter
June 1, 2022
NFT of the Week: Goblintown.wtf
Free + Gas
Current Floor Price
(June 1, 2022)
Total Volume Traded (June 1, 2022)
Goblintown.wtf is a 10k generative 2D PFP collection of ugly goblin NFTs residing on the Ethereum network. It was created as a meme depicting how traders felt near the beginning of the NFT bear market, beginning its mint phase on May 21st, 2022.
Why Goblintown.wtf is our NFT of the week
Goblintown.wtf exploded this week reaching new highs of more than 8 ETH floor price. This collection continues to perform and has proved to be a great bear-market buy for many investors.
Goblintown pumped this week even as ETH was dipping. Goblintown showed support around 0.4ETH last week until we had this recent breakout. We saw the price action jump this week and take up much of the market volume. There is clearly still a desire to trade in this market, even if there’s not much volume or many good flipping options. The collection has given early investors plenty of opportunities to secure good profits during this market downturn with some early goers securing gains of over 100X.
Some say that a project has sparked a trend when you see the derivative collections popping up, of which we’ve seen many this week. This free mint has performed great and there are plenty trying to follow in the wake with a similar roadmap (or lack thereof) and vibe. Goblintown.wtf has proven to be an infectious meme and brand that seems to have the community support needed to stick around for a while. That said, this project really is just fun and vibes at the moment. We’ll have to keep a close (goblin) eye to follow what’s going on with the future of this project. But while most of the market is still drowning, there’s plenty of fun being had in Goblintown.
You can read more about the lessons this project has taught us about what to look for in a project in our recent article on why goblintown is mooning.
Marketing / Community
Goblintown.wtf is a generative 2-D avatar collection of ugly low-brow goblin characters. The marketing for this project has been fairly simple but highly effective – build a fun online community around a highly infectious meme that capitalizes on the market sentiment. You can regularly catch the Goblintown team hanging with your favorite influencer on Twitter Spaces making an assortment of fart noises and other goblin sounds. Even our friend @kmoney joined in on the fun in a Twitter Space that saw around 30,000 people and loads of other influencers tuning in to the event.
Community: The Goblintown community continues to grow and rally around this “high-effort art” and silly goblin humor. You can find plenty of influencers, “smart money”, and market makers joining the party at this point. This IP is ready to build a brand around these characters and as creepy as they may seem, this collection has garnered a lot of fan support with many praising the art style and sporting these Goblins as their PFPs both on Twitter and on Discord.
No roadmap. No Discord. No utility. CC0 (Creative Commons). This project is now verified on OpenSea.
There still isn’t much that is publicly known about this fully anonymous team. What we do know is that they’ve shown great timing with this release and came ready to deliver a brand that capitalized on the meme and market sentiment of being in “goblintown” during this bear cycle.
Zooverse Gen 2: Operation Nature
0.12 ETH – 0.15 ETH
Current Floor Price
Zooverse is a Web3 brand that strives to innovate in the space by providing as much utility to holders in as many different ways as possible. The team focuses on long-term thinking and creative ideas to benefit holders in their day-to-day lives.
Some of their impressive achievements since their genesis launch are:
- Never having more than 6% of the collection listed.
- Maintaining over a 1.5 ETH floor since launch.
- Distributing over 3,000 whitelists since mint.
- Alpha calls averaging 86% success rate.
- An all-time high of 6 ETH floor price.
Many projects end up never achieving any of these feats, much less all of them on the same collection. For those reasons listed, the Zooverse community and NFT space as a whole are very bullish on the project and the founders.
This past week Zooverse released their second collection of 4,444 pixelated “Neo Tokyo” looking characters known as “Operation Nature”. This second collection will have three main utilities: security, renting, and lending.
Security: Zooverse security protects against hacks, wallet drains, and phishing links from malicious contracts. When Zooverse security is enabled, the active NFT can not be transferred to another wallet without entering a password to grant access to that NFT. All holders will receive this utility for free on their ZooVerse NFTs.
Renting: Renting allows holders to borrow a specific NFT for a set amount of time to try out before purchasing the NFT for themselves. Rentable NFTs are placed into tiers (A, B, C, D) based on floor price and daily rent rate. As holders level up from staking, they will be able to rent NFTs for longer periods.
There are three ways this utility will work: (1) For Partnered Projects, they offer limited-time NFTs which will grant access to utilities from both projects; (2) Expirable NFTs will grant access to utilities of different projects and then be burnt after the rent time expires; and (3) Main renting allows holders to choose an NFT from the vault and stake one of their own NFTs as collateral, and pay a daily rent fee. When the rent time is up you swap the rented NFT back for your own NFT.
Lending: Zooverse lending is a way of allowing holders to partially liquidate an NFT to receive a loan in ETH that must be repaid at the end of the loan term. Zooverse is against sell shaming and would rather provide a constructive way to encourage their community to hold their NFTs even when they need a little extra liquidity.
During the whitelist mint, Zooverse sold out 50% of their collection at 0.15 ETH. After opening the mint to the waitlisted users, the collection completely sold out within 10 minutes. The price action during and after mint was nothing to write home about. Sales started off at .2 and quickly dropped to mint price. Currently, the floor is holding just above 0.1 ETH, which is 33% under the mint price. The community is still hopeful that as the utilities get rolled out, traders will see the value in the collection and reinvest.
Recently Launched Projects
Trippin’ Ape Tribe
WL: 3.25 SOL
Public: 4 SOL
Current Floor Price
(June 1, 2022)
Following the hype of Bored Ape Yacht Club, Valhalla Labs brings us Trippin’ Ape Tribe, a collection of 10,000 PFP NFTs. Valhalla Labs is a team of seven, with one of the co-founders being a music producer.
This collection of psychedelic apes started when Chorles, their Alpha caller, started a clinical trial that allowed all the apes to obtain super cognitive abilities through weird teas, fungi, and little papers that they needed to eat. “It’s definitely not a cult” is their catchphrase as seen throughout their website, Twitter, and everywhere else. Every ape is unique, with combinations of traits as well as varying rarities. The apes are all presented with thick outlines and vibrant colors to match their weird “trippy” looking traits.
Trippin’ Ape Tribe was launched on the 24th of May on OpenSea and Magic Eden. The floor price is currently at approximately 30 SOL, with mint price at 3.25 and 4 SOL just a week ago. Gaining much attention in such a short period of time made Trippin’ Ape Tribe the biggest Solana project of the week. It’s the most hyped Solana project since Okay Bears, and people in the space consider Trippin’ Ape as the second BAYC on Solana. Despite being the number 1 Solana NFT of the week, a lot of holders started to list their Trippin Apes as the floor price started dropping. There are no apparent major utilities attached to this NFT, and a roadmap isn’t available either.
0.09 – 0.12 ETH
Current Floor Price
Flippr is a collection of 6000 ERC1155 passes that offer access to Flipprs’ variety of tools, a marketplace, and their bots. Flippr is designed to enhance the functionality of a traditional NFT marketplace while also delivering useful analytical tools to its holders.
The team took several of the most popular tools in the space and combined them into an all in one suite that allows users to snipe, analyze, and determine the rarity of NFTs. Unlike competitor tools such as Icy.Tools, these analytical graphs will not require a monthly subscription to access.
- Auto-minters: Using the auto-minters, holders can set up scheduled transactions ahead of time that will be executed the moment a contract goes live. This minter uses a separate burner wallet with just enough Ethereum to cover the mint.
- Mass bidding bot: Users can automatically place bids on an entire OpenSea collection with the click of a button. Flippr Analytics allows traders to see real-time price action as well as historical charts and graphs.
- Flippr’s Chrome Extension: Provides direct OpenSea integration to compare the rarity of NFTs to calculate their fair market value.
- Flipprs’ universal ranking algorithm: Reflects unbiased numerical rarity that can differ from the rarity information supplied by project founders to other rarity ranking tools.
- Quick buy: Holders can bypass OpenSea’s tedious checkout method and instead purchase NFTs with only 2 clicks.
- Batch Buy: This is similar to genie and gem sweep tools and allows traders to sweep multiple NFTs off the floor with a single transaction.
- Flippr Guard: Allows users to report suspicious collections which are then added to a database dedicated to stopping rugs and scams. Flippr will use this database to notify buyers of suspicious websites, prompting them to close the page before it even loads.
- Flippr Alerts: Allows users to monitor floor prices, volume, and new listings and be notified immediately if these activities cross a certain threshold allowing for sniping opportunities.
- Flippr Portfolio: Allows holders to track the value of their NFTs all in one convenient location. It will show you how the value of your portfolio has changed over time and how each collection is doing independently.
Flippr launched smoothly and sold out without overallocation although they had to end up reducing the total supply from their initially intended total of 6k. This is quite the feat considering the awful bear market we are currently in, as well as the tool meta recently dying down. Off the bat, Flippr sat around 0.18 ETH to 0.2 ETH and then climbed all the way up to .3 before dropping back down to 0.099 ETH, which is where it sits at the time of writing.
Upcoming Projects: Bangers
Deskheads is a collection of cute, colorful, animated, desk worker NFTs. These humanoid-like beings are a dystopic representation of the modern human that is attempting to leave their 9 to 5 job in order to join the web3 revolution.
Deskhead holders will be part of a creative and influential group of Web3 builders, dreamers, and innovators and will have exclusive access to cutting-edge tools that will help you build, create and innovate.
Deskheads will also be launching an incubator to help developers, artists, and entrepreneurs get into the Web3 space. Furthermore, Deskheads will be developing their own universe with community-owned IP, and original merch.
They will be implementing on-chain leveling, which is a fairly novel concept in the web3 space. Holders can level up their NFTs to unlock rewards and IRL utilities. This staking and leveling feature will increase the value of the holder’s Deskhead over time.
The bright colors and thick lines of this collection, as well as the animation, give Deskheads the potential to perform quite well in the space. Depending on the type of Web2 and Web3 tools they release, this collection could provide great utility to holders as well as provide a strong community of fellow builders and innovators for holders to network with.
June 6th, 2022
Vandal City is an upcoming Solana P2E game involving heists with vaults full of $SOL.
Players must assemble crews of two bandits to go on a hunt for bank vaults containing $SOL that are randomly hidden throughout the Solana blockchain. Each wallet contains varying amounts of $SOL. The Vandal City website will show the exact amount of $SOL contained in these wallets and whether or not that vault has been unlocked yet. Royalties will be added to each vault daily and shown on the website.
The point of the game is to find the wallet addresses containing the $SOL. Once players find the wallets (aka vaults), the money within them is theirs to keep and distributed evenly among crew members.
On the website players will be able to submit their wallet guesses – if they guess correctly, the website will notify them that they have broken into the vault and how much $SOL it contained. Each guess will cost players a certain amount of $VAULT tokens.
There will be a tab on the website containing clues of the wallet address that can also be purchased for $VAULT. There are varying levels of clues that range from “dud” to “diamond”. A dud clue will give you nothing. A bronze clue will tell you the total character count in the wallet. A silver clue will give quantitative knowledge about the wallet, such as how many letters and numbers are contained in the address. A gold clue will give a string of characters contained within the vault address. And finally, a diamond guess will give the full vault address.
The website will also contain an NFT Auction House where players can use $VAULT to bid on NFTs on the auction block as well as ETH, SOL, merch, gift cards, and whitelist spots. $VAULT can also be used to play casino-style games like coinflip, Vault Scrambler, Bandit Escape, and Blackjack. All tokens spent on mini-games will be burnt to lower the total supply of $VAULT.
Players can earn $VAULT by staking their bandits. The standard yield for bandits is 12 $VAULT per day. Staking will begin two days after the mint end, giving players time to assemble and submit their crews. Those who find the vault will be publicly celebrated in the Vandal City Discord with a special “Vault King” role and will have an official announcement posted about them.
Recently Solana has become the new meta, and we have seen SOL projects blowing up in the past couple of weeks. This trend combined with the in-depth game mechanics and reward system of Vandal City makes us very bullish on this project. These new innovative mechanics give Vandal City a great shot at being one of the next big Solana projects this month
Hidden Gem of the Week
ETHVault is a collection of 2,000 utility-based NFTs that allow holders to stake them along with other NFTs from their wallet to receive Ethereum in return.
There are a couple of options holders can choose from for this staking utility. The first option is to only stake the NFTVault NFT and receive a percentage of the current floor price in ETH. The second option is to stake both the ETHVault NFT plus another NFT from your wallet to receive ETH based on the floor price of both your NFTs.
Another mechanic to this utility is ETHScore and ETHScore+. In a nutshell, ETHScore is a holder’s “trustworthiness” score. Holders will start off with an ETHScore of 300 unless they are also a holder of a partnered project. An ETHScore of 300 equates to being able to borrow 30% of the floor price of your staked NFT. When holders return the ETH they originally received plus fees, their ETHScore will increase. A higher ETHScore means you can borrow a higher percentage of the floor price of your staked NFT. The maximum achievable ETHScore is 600, meaning holders with that score can receive up to 60% of the floor price of staked NFTs into their wallet.
The way these funds will be provided is through the community wallet. The community wallet will be funded in three different ways. The first method of funding is through the initial mint of NFTVault NFTs of which 80% will be contributed to this wallet. The second method of funding will come from secondary sales, of which 66% of royalties will be directed to the community wallet. The third and final method of funding will result from the staking fee paid by holders to stake their ETHVaults. The staking fee will be initially set at 8% of the floor price of staked NFTs for the first 14 days after mint. After the 14 days, the community will take a vote on the first day of every month to decide the staking fee for that month.
Overall this project has a lot of potential considering it is not the same old rinse and repeat type of PFP project with merch, breeding, unknown artists, etc. The features this project provides will allow holders to receive the ETH they need to trade or mint new projects without paper handing their currently owned NFTs. This type of staking could help the market overall, as it decreases undercutting and panic selling when traders need a quick bit of ETH.