Crypto Trading Cards Total=837
Total Owners=593
Listed for sale=72 (12%)
1 eth floor=30 sales/delist
2 eth floor=50 sales/delist
For a small collection like this, a 2 eth floor is iminent once the paper hands are shaken out.
Last chance.
A few months ago, I thought Nakamigos was going to zero. I was upset about the cloaks release, thinking it was a cash grab and sold all of my migos.
As a chartist, I always try to look at things objectively based on evidence and pattern. I think most people think I speak honestly and present the facts. Not only that, if I am a believer in something, I go in on it. I don't speak from the sidelines. I go into the community and learn. Nor do I pump and dump as I tend to hold projects for the long term.
This is why I am a holder of over 100 popular NFTs since 2021 and a member of over 60+ discord channels. I've seen the triumphs of many projects and the agony of many failures. I see how the community behaves and analyze how the founders act. I'm like the watcher, observing how founder and community behavior affects the floor price and the project.
Below is why I'm now very BULLISH on @hifolabsio and the @Nakamigos.
Here me out as I had time to digest from this latest release of Crypto Trading Cards.
1-The NFT projects that tend to have greater success have reliable founders and leaders with a long term vision. The nakamigos brand never quite made sense to me since it literally meant "Friends of Nagamoto". But prior to the release of the crypto trading cards, there were no ties to crypto or bitcoin. This new release changed that and made me realize that the founders are scholars of crypto history. Furthermore, their name, HiFo labs is a play on the first initials Hal Finney-HF and last initials of Satoshi Nakamoto-io. HiFo. Crypto Trading Card was the title of a famous email from Hal Finney, an early bitcoin developer who received the first bitcoin from Satoshi Nagamoto. As mentioned earlier, Hal Finney was THE FIRST Nakamigo. When these references are beginning to tie together, you can begin to see the intentional nature of the vision. When time is spent and design is appreciate on the little things, there tends of be a grander and intentional design on the bigger.
2-When the actual drop of crypto trading cards came, many thought it was low effort by AI. Upon closer look and analysis, it became evident that the founders intentionally wanted AI and the imperfections and errors that came with it. After all, if these NFT's were "discovered in the attic" 30 years from today, early AI errors should be present to reflect the technology and the times of now. Just like comics and cards from the past reflected the limitations and times of those era, I like the fact we see the limitations of AI at the current state. This is intentional and beautiful.
3What people don't realize is that the founders created cards that each tell a story. They use the infamous Pepe character, created by Matt Furie, as a tribute to the most recognized character tied to crypto. Each card is rich with references to either the bitcoin white paper, the people with early involvement to bitcoin and crypto, cryptography, economics, mathematics or a reference to real life baseball's legends and lore. This is a NFT collection teaching us the history of crypto while using the baseball card motif as a vehicle. The most important technology of our era is AI and web 3. This collection ties in the two. All intensional and fascinating.
4-As a card and comic collector in real life, I appreciate this collection immensely and can see value rising rapidly and lasting for years. There are baseball collectors who are web 3 fans, who will fall in love with this as I have. We will be the forever collectors. This set has the making to be a highly desirable stand alone collection because it is a centered around the history of crypto. Furthermore, it's not just the product thats important but also the process on how this was created. The founders disclosed there was intentional AI generation followed by a curation of 837 out of 4000 possibilities. 837 because on January 17th, 2009 that's when BTC block 837 was mined. The cards were launched on Jan 17, 2024, which is 31 years later. And with 837 minted, these are quite rare. I wouldnt be surprise if the floor price sky rockets soon. Quite intentional.
5-By expanding the project into crypto trading card, I believe Nakamigos took a drastic leap forward, separating itself from being just another PFP project or another game NFT. The general web 3 public viewed Nakamigos as a PFP punk wanna be. With the creation of crypto trading cards, it now has something unique that can stand alone by itself and has the potential to stand the test of time. It also showed to us the founders are capable of creating something new and building something different. By creating crypto trading cards, it now brought meaning to the friends of Nakamoto. the loop is now closed. I'm beginning to realize that the NFT project known as Nakamigos is about embracing crypto lore and history.
6-From all my journey in the NFT world in the past 3 years, I've come to realize the value of an NFT project is dependent on one of two key things. The vision of founder (or artist) or the significance of the product/project. I have not seen a project like Nakamigos with so much mystery and conspiracy. While I would love nakamigos to have a prominent founder like @beeple, @Matt_Furie, or @matthall and @pents90, that wont matter if the project has meaning and significance by itself. If it is unique, different and separates itself apart from the other traditional cookie cutter projects so that its not just another PFP or game NFT, it doesn't matter who the founders are. If Nakamigos truly is a reflection in our time and a digital snapshot preserving the lore and history of crypto and bitcoin, then it has a chance to be immortal. I feel the release of crypto trading card brought it one step closer to that reality.
30 years from now, as our children open up the "attic" of our old ledger, do these NFT's stand the test of time. I believe so.
This is why I am more bullish today than ever. This is not a flip. This is a long term hold and a piece of history.
When I bought my @Nakamigos, I saw them as great looking pixelated PFP. I never saw them as something related to $btc nor did I realize the references and coincidences tied to it. Lately, I'm realizing there are a lot more to the story and the mystery fascinates me unlike any other NFT project.
For those interested or new to this project, here's a quick summary from what I have learned thus far.
1-The Name
Nakamigos=Friends of Nakamoto (Satoshi Nakamoto=creator of bitcoin).
2-The Founders
Nakamigos was created by HiFo Labs. No one really thought much about the company name but recently, the meaning behind it was uncovered by @CoolHurstMedia.
The name HiFo Labs as the company of the project is actually very well thought out. To the layman, this is not obvious.
HiFoLab =
H.F. are the first initials of Hal Finney and i.o. are the last initials of Satoshi Nakamoto. While most know Satoshi, many do not know Hal.
All of this has led me to learn more and discovered that Hal Finney @halfin was the well known developer of bitcoin and received the first bitcoin transaction from Satoshi. He died in 2014 from ALS. Founders are obviously knowledgeable of bitcoin history and has centered their company name/brand around bitcoin.
3-Website
Nakamigos website refers Nakamigos as "crypto investors" whereas cloaks are referred to as "unique characters". Its quite interesting how the founders are tying their project to "crypto" which I don't think is a common choice of words by others.. This appears intentional.
4-"Out of the Lab" tweet
On Nov 13, 2023, the founders tweeted that they went "in the lab". For 61 days, the NFT community wondered whether this project was a rug and the floor price of the project steadily declined.
When the founders came out of the lab yesterday with their first tweet, was it a coincidence they did so after the first BTC ETF was approved?
Furthermore, the first tweet after 60+ days in the lab is a cryptic cliff hanger, with a picture of an old baseball card box in an old attic with spider webs labeled "Crypto Trading Cards."
Again, the title "Crypto Trading Cards" happens to be the subject title of an old Hal Finney's email from the past describing NFTs. (You can google this). This famous email was sent on Jan 17, 1993. Again, this coincides with what is about to be revealed on Jan 17, 2024. More intentional planning here.
Summary
All of this to me suggests that the mysterious Nakamigos founders have "design thinking" mentality while appreciating the lore and history of crypto, in particular bitcoin. We don't know what they are building or their intentions but this does not smell like a rug at all. There's too much thought and effort here. And there's too many easter eggs being purposefully dropped left and right at the right time. The founders appear to be patient and quietly building.
While everything here is speculative and there are even wilder speculations by other community members from the other clues tying to other founders and origins, I really like the mystery we see here at Nakamigos.
Whether its the frequent easter eggs drops by @beeple with his daily art, the reference and similarity of Cloaks being a game to the old Gurk III game developed by Matt and John (founders of @larvalabs (cryptopunk) in 2017), old references from 10KTF (@yugalabs ) about Nakamigos, or how this community was built with @sartoshi_rip "end of sartoshi" EOS pass for MF-ers, there is just such a rich and fascinating story here with so many things tying together with notable web 3 names and brands.
What other project has all of this lore or coincidences as part of its story?
Quite fascinating. Make you hope something larger at play is happening?
What do you think? Too much tin foil hat or really something special here?
🤔
2024 is going to be intense. Buckle up.
Major wars, presidential elections, rapid development of AI, etc.
We go this. Humans are amazing.
Let truth & compassion prevail.
Happy new year! Love you all ❤
ok, whew. that was dramatic. 😅
so to make it up to you for all the recent weens, here is just a nice wholesome everyday of me feeding a delicious butterscotch milkshake to a baby goat in a field full of flowers.
hope u have a super day. ✨🌺🌞♥️
How can you be bearish on $ETH NFTs when you have leaders from:
Pudgy Penguins, Yuga/BAYC, DeGods, Sappy Seals, Azuki, Doodles, Cool Cats, Sugar Town, Creeps, Sproto, Lazy Lions, Neo Tokyo, Ethscriptions… & many more
Building on ETH & pushing the space forward
So people are asking Why I sold me Moonbird for 50 Nakamigos-Cloak? Here are my top 10 reasons.
1. Taxes.
First, the practical one which is Tax Loss Harvesting and because its the end of the year. I lost about $78k by buying a moonbird at 26eth while eth was worth $3-4k. By selling, I get to offset my wins this year. This is tax 101.
2. Time.
Next, Moonbird PR and social sentiment continues to drop despite being a loyal supporter. As an Elliott Wave Chartist, I know the price of any asset is dependent on the social mood of the the investors and the community. Its supply and demand. When there is peak FUD and nothing has been done to improve it over the year and actually its getting worse because of the founder, then its hard for a quick turnaround. So time is not on my side if I wait it out with moonbird. I gave it 2 years which is a lifetime in web3,
3. Math.
To potentially get back my losses and break even, I have to decide what NFT project had a better shot. Do I choose Moonbirds going back to 26+ eth from its current 1.5 or a new project going from 0.03 to 0.5 eth. Whatever route I choose, it has to do at least a 15x for me to break even. The second question is which one can do it faster? I chose the later route and decided the project to bet on would be Nakamigos-cloak.
4. Potential.
So what current project is cheap but yet, well known and sought after with the most potential for prices to do a 15x. Nakamigos-Cloak is clearly the MAYC to BAYC and currently has a similar pattern being 20% floor price of its original. Common sense dictates that if OG Nakamigos does well so will Cloaks because of its similarity. So is it inconceivable for Migos to go to 2.5eth in less than a year and hence, Cloak to following and hit 0.5eth? I would say that most notable PFP NFT's like @doodles, clone x, moonbirds and others all tend to hover around this range. I anticipate this can happen very easily for OG Nakamigos.
5. Community.
On top of that, which project has super strong support from its community and from web3 in general? What PFP is proudly and commonly used on twitter? What posts generates so many likes, comments and retweets. Nakamigos clearly stands out from the crowd here. And whats amazing is that they are doing it without a discord or centralized organization which makes this remarkably impressive.
6. Attention.
Does it also have the attention of influencers, artists and well respected members? Does it generate attention to the masses. Promotion is key for parabolic growth and with top tier influencers like @realbatdad talking about it and notable artists like @beeple including it into his art (30 beeples everyday), there are constant eyes around this project, making it easier to go parabolic when the time is right!
7. Mystery.
Are there enough mystery and speculation around this project for stories to be told and rumors to be shared? (@larvalabs vs. @beeple vs. others as founders have been swirling around). Is there an actual game happening withe Cloaks? All projects need mystique and anticipation for pure mania to happen. I think there is currently enough here to wet people's appetite.
8. Cost and Value.
At 0.03 eth per cloak, I don't think there are any NFT project that is even close to this price point with the same potential.
9. Potential.
Lots of If's and lots of speculations. If larva labs and founders were involved, what happens? If Beeple is actually involved, what happens? What do you think happens to the floor price? With the new NFT bull coming soon in 2024, I think this project is cheap enough for the common person to jump into. Legacy Nakamigos is already #53 on the all time list during the bear cycle, which is really amazing for a decentralized NFT project if you think about it. What happens in the upcoming bull?
10. Redemption.
A few months ago, I tweeted Nakamigos was dead because of the Cloak launch. I thought it was a cash grab, dilution of existing migos and sold all of my holdings. The chart was also not heading in the right direction. But, I was surprised and dead wrong as the founders ended up giving it away for free and donated proceeds. I'm back on the train as these founders understoodd the importance of momentum, good PR and community sentiment. They listened to the community and corrected their mistakes. The founders redeemed themselves and I am redeeming myself form my errors.
So there you have it. All 10 reasons. In the short 24 hours, my inbox is littered with love from the community and it feels right... From an EW chartist standpoint, it will be fun to provide the Nakamigos and Cloaks chart more frequently to the community!
Web3 = community = Nakamigos.
The power of a bright community is the epitome of Web3. Thanks to Nakamigos holders for the warm welcome since day one.
#10482 is officially locked in 🔐