NFT God Newsletter - The Daily Alpha 5/26/22
The Daily Alpha 5/26- Happy Thursday everyone! To those in the states we have a very exciting weekend coming up, Memorial Day Weekend. It's pretty much the unofficial start of summer. For sure one of the best weekends of the year, hope everyone finds some time to hang out with loved ones and enjoy the weather. Let's get into the Alpha:
Goblintown Wrote the New NFT Playbook in under a Week – NFT GOD. — nftgod.gives In under one short week Goblintown has become the loudest NFT community in the history of the space. Here is how they did it...
Goblin Town goes sicko mode
1/3 of all OpenSea volume yesterday was in the pendulum swinging, floor peeing, Gary P saucing, egg smashing Goblintown. A true anomaly in a hyper bear market. In under one short week Goblintown has taken the entire NFT space by storm. Just 6 days ago they were a free mint, and now they are up to 2 ETH. An absolutely unheard of feat in the NFT space, especially in this kind of market. There’s a lot of reasons behind it, the biggest of which is an organic community that has taken social media by storm. If you haven’t tuned into a Goblintown Twitter Space yet you are really doing yourself a disservice. Filled with grunting, farting, shrieking, human and monkey shaming, and bizarre chants, it’s truly one of the most unique movements in the history of NFT’s. They’ve certainly done something very original in a time where the NFT space was feeling stale. A playbook project creators will surely rip off moving forward.
Blue chips get slaughtered
Hope you didn’t get caught in the bull trap. The NFT market continued to shed ETH today as top blue chip projects started to feel the pain. Up to this point it was largely the mid chip and lower projects getting hit, but today marked the biggest day yet of blue chip pounding. Apes are down to 90, Mutants are under 18, Moonbirds are at 21, and Azuki is hovering around 10 ETH. Nobody is escaping the pain. As I’ve been saying in most newsletters I think we have a lot more pain ahead of us. If you truly want to make moves I still believe blue chips are the only way, but at this point I’m still recommending you sit on the sideline.
AIMoonBirds forced to change their name
After being threatened by NFT baddie Kevin Rose, the artist formerly known as AIMoonBirds has changed their name to AINightbirds. The Web 2 venture capital king decided he’d waltz right into web 3 and demand everyone do things differently. While derivatives have largely been an acceptable and almost complimentary facet of the NFT space, Kevin Rose was just not having that. My suspicion is he was a little jealous that the AIMoonBirds look significantly cooler than the original MoonBirds. After threatening to take them down, the founders of the AI MB team kneel’d to Kevin’s one man cancel culture and changed their handle. Didn’t impact volume though, as they went from the free mint 0 ETH floor all the way up to the current price of .6 ETH.
Project I’m Watching: all projects after Goblintown and AIMoonBirds
Goblintown and AIMoonBirds have created the new playbook for this bear market. Free mints, little marketing, and weaponizing Twitter are the way you pump in this environment. It’s clear that despite volume hitting all time lows there are still ways to succeed in this market. I would imagine most new projects coming out in the next couple of months will steal this playbook exactly. The only warning I’ll say is this, free mints on random websites will lead to a lot of scams. Be careful with which links you click and which projects you mint as people will be looking to take advantage of these trends. It’s clear the way to succeed in NFT’s has completely shifted.