Portfolio Tip of the Week, Storytelling NFTs & This Week’s Top Trending Coins
In This Issue
- For this weeks portfolio tip, I’ll be talking about surviving the chaos.
- Sam has a report for you on storytelling NFTs
- Rebecca has this week’s top trending coins.
Premium Subscription highlights this week:
- The SEC vs Ripple lawsuit, a lawsuit which could significantly impact the crypto industry as a whole, depending on its outcome.
- Jesse’s altcoin report: DeFiChain is a Proof of Stake network specializing in Wrapped Tokens, but is it a good project to add to your portfolio?
- NFT mints: 3 upcoming NFT mints to keep an eye on.
Lark’s Portfolio Tips
<h3 id="surviving-the-chaos “>Surviving The ChaosIf you, like me, started investing in markets after 2009, then welcome to what may be one of the most difficult periods of your investment journey.
This macro bear market is one for the history books. Everything is breaking from bonds to real estate, to forex, to stocks, and yes even our beloved crypto. While central banks will inevitably intervene there could still be a lot of pain to come.
Markets will recover eventually, but that doesn’t make any of this fun. It is like watching a train wreck in slow motion. Remember that right now the game is simply to survive.
Don’t burn through your cash too quickly. Ensure your income source is solid. Stay tuned in to the market. This is the time when most people tune out. That is your advantage right now.
I will be right here with you riding out this bear market. Continuing our hunt for opportunities even in these grim times.
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Storytelling NFTs by Sam
Recently, the NFT atmosphere seems to have picked up. Yes, trade is down, there are fewer market participants than earlier this year and, in general, reduced liquidity. But at the same time there’s some renewed enthusiasm in the air, and class-of-21 NFT vets who had been sitting on the sidelines might be in the mood to dip their toes again.
One phrase that has been echoing around and getting people excited lately is storytelling NFTs, but what exactly is a storytelling NFT, and which projects are the best examples of this kind of NFT?
What are storytelling NFTs?
As with so many aspects of NFTs and web3, there’s no agreed-upon definition of what exactly storytelling NFT means. It’s open to interpretation but usually seems to incorporate the following.
First is the general vibe. Storytelling NFTs build a fictional world with engaging characters, and may have some kind of background conflict as a plot starter, all of which often gets referred to as lore.
More specifically, there might be plans around how to write the still open-ended story, and these are usually pitched as community projects that holders can be part of through owning an NFT. In reality, these ideas are not always fully formed, and it may not be immediately clear what collaborative mechanisms will be used.
However, a lack of clear procedures never stopped the top NFT projects up to now, and at the moment, that storytelling tag is pulling in attention and generating sales.
Some Unique Storytelling NFT Projects
Renga
Image credits: Renga
I’ve mentioned Renga before, along with its genesis collection The Art of Seasons, but it has to be top here because it’s the project that has most revitalized NFT sentiment, and got people talking about storytelling.
An aspect of Renga that ramped up excitement is what’s now known as box smashing. To get a Renga PFP, you first had to get hold of a Renga Black Box, which you can then open at your leisure to reveal your PFP.
These mechanics set in motion a party spirit on Twitter and Discord, with holders giddily smashing boxes and showing off the contents.
Curiously, floor prices on remaining Black Boxes are higher than on the main collection (both of which have been extremely bullish), which shows how NFT degens will pay extra to gamble on a ticket that might reveal a rare piece.
As well as popularizing storytelling, it would be no surprise if Renga sets an alternative launch template, replacing the standard delayed reveals with box openings.
Chimpers
Image credits: Chimpers
Another project that is all about art (in this case, the retro-gaming, pixel variety), world-building (or lore), and creating ongoing stories, is the very cool and NFT-ish Chimpers.
It was co-created by the well-respected pixel artist Timpers (real name Oliver TImperley), who previously created The Boring Ape Chronicles (TBAC), which was a BAYC-derived storytelling project before there was a phrase for storytelling projects, back in summer 2021.
From TBAC came Chimpers Genesis, a collection of 100 characters that minted in April 2022, and then 5,555 generative Chimpers NFTs.
Chimpers is building out a rich, game-like environment, that has its origins in Bored Ape Yacht Club, but has evolved in its own right around the kind of expertly-executed pixel art that–when it’s done this well–finds a receptive audience in web3, and can become highly collectible.
Specks of Dust
Image credits: Specks of Dust
For a storytelling NFT where the story aspect is upfront and unambiguous, take a look at Specks of Dust. It’s the work of artist Scott Carr, whose work has appeared in The New Yorker and Vice, and a writer known as Sprite Mountain.
Specks of Dust is produced in association with WestCoast NFT, a web3 production studio that has worked with Doodles and MFers, among others.
The project aims to bring together web3 and comics, and is keeping things simple. It releases a regular comic strip–which has a lo-fi, surreal comedy/sci-fi feeling–and holders of the project’s Odyssey NFTs get to vote on where the story goes next.
There are 1,300 Odyssey NFTs, which are PFPs, and also 350 Origins NFTs, which allow holders to participate in deciding the direction the project should take overall.
Others to Explore
Another recent collection that looks fascinating, has taken off, and certainly slots into the storytelling niche is Critters Cult, which is explained here, as part of a look at the Solana-based creative ecosystem it’s a part of.
Image credits: Gangster All Star
A few others to take a look at are Gangster All Star, which is stylishly badass and has great potential, and new project Everai, which is creating a Japanese mecha-style narrative world, and emphasizes involving NFT holders in creative decisions, and in deciding what overall direction the project will take.
Then there’s Kitaro World, which promises royalties to holders whose NFT characters are featured in the books it plans to publish, sold out its collection, and has been trading busily on secondary.
Image credits: Ether
There’s also an upcoming project called Ether. Few details are known as yet, but it features manga-style art, has a big following, and mentions holders building on the IP rights to the characters they will own.
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Trending Coins This Week by Rebecca
Here are my key takeaways from the trends this week, and despite the macro madness, there’s crypto integrations left, right, and center.
1 – Umee is a lending and borrowing platform on Cosmos, that’s announced its targeting traditional finance with an institutional DAO, UDX. The new Cosmos Hub whitepaper unveils future updates to Cosmos’ liquid staking model which will benefit platforms such as Umee.
2 – INSTAR is an insights research network that’s skyrocketed more than 200% this week after releasing its Q4 and beyond roadmap. The roadmap includes a 30M+ token burn and support for Layer-1 blockchain and wallet, Partisia.
3 – Terra Luna Classic (LUNC) is the original version of the Terra blockchain that will see the token integrated into the play-to-earn game, Finesse. Kaj Labs, the team behind the game, is set to allocate between $50M to $100M to burn up to 2.5 trillion LUNC tokens.
4 – Dejitaru Tsuka is an Ethereum-based meme coin rumored to be created by the SHIB team. It’s celebrated its 4-month anniversary and skyrocketed almost 300% since August. The TSUKA/USDC LP is also being used to burn tokens.
5 – Evmos is an EVM on the Cosmos network that’s unveiled some future updates, including liquid staking and IBC middleware. Evmos is also being talked about as a potential top 10 crypto contender for the next bull run.
6 – Unizen is an operating system for cross-chain-enabled exchange applications. Unizen’s Trade aggregator V1 is now live supporting 60 DEX’s across 7 blockchains, as well as supporting trade splitting across liquidity pools.
7 – Reserve Rights is a dual token stablecoin platform on Ethereum that’s announced the launch of the full protocol is scheduled for 10 October in Bogota.
8 – Sun is the governance token for the SUN.io platform on TRON. It’s announced the results of its latest buyback and burn event, with a total of 77M SUN tokens burned.
9 – Cosmos Hub (ATOM) powers the Cosmos ecosystem and it’s unveiled the plans for ATOM 2.0, designed to repurpose the token, and strengthen interoperability and security. Cosmos has also announced native USDC is coming to the interchain in January 2023.
10 – Bitcoin difficulty drops for the first time in 2 months as miners sell 8,000 bitcoins. Lightning Labs has announced its initial code for the new Taro protocol, which will allow users to issue and transfer assets on the Bitcoin blockchain.
11 – GMX is a derivatives exchange on Arbitrum that’s seen its token listed on Gate.io and Swapsicle. Bybit has also announced its supporting deposits and withdrawals of GMX on AVAX-C chain. Degis will also offer insurance for GMX via Protocol Protection. Read Jesse’s coin review on GMX to see if it’s a good investment!
12 – BNB is the native coin for the Binance chain that’s seen Binance register as a financial service provider in New Zealand and opens a local office. Binance is hosting a giveaway of 1,000 BUSD to celebrate reaching 3M Instagram followers.
13 – Chainlink is a decentralized oracle network that’s partnered with Coinbase Cloud to launch pricing feeds for NFT floor prices. Chainlink has also partnered with the international messaging system, SWIFT, on a proof-of-concept project.
14 – Ethereum has seen its NFT integration on Facebook and Instagram rolled out to all US users. Ethereum wallet, MetaMask, launches a beta portfolio dApp for users to access assets from multiple accounts and networks.
15 – Polygon is an L2 Ethereum scaling solution that’s joined a $20M funding round for a Web3 automation start-up called Space and Time, alongside Avalanche and Microsoft. Instagram and Facebook have rolled out Polygon NFT integration to all US users.
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Final Notes
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
If you are reading this it means you are on the free version of the Wealth Mastery Investor Report, which is great for news and tips on the crypto markets.
If you really want to take advantage of fastest growing asset class EVER, I highly recommend you join us in the Premium Investor Report.
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- Deep dive Altcoin report & The Trending Coin Report
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See you next time!
Lark and the Wealth Mastery Team
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TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.
