Learn more about Invisible Friends, 3Landers, and the Tubby Cats by Tubby Collective.
In this March 2022 edition of DappRadar’s New Dapps Report, we look at three popular NFT collections that are performing well in a bearish market: Invisible Friends, 3Landers, and Tubby Cats by Tubby Collective. The New Dapps Report serves as an executive overview and analysis of financial metrics for NFT collections.
This New Dapps Report is part of a series of executive reports that provide readers with a high-level perspective of promising randomly generated NFT collections. The report focuses on financial metrics, including sales activity and price analysis, and distribution metrics like Unique Holders Ratio and Whale Concentration Index. It additionally dives into whales’ behavioral patterns and social and technical overviews.
Despite the downtrend in the market dictated by somber macroeconomic events the NFT market still produces new collections that captivate market interest. In this report, we will discuss three new collections that are beating the odds.
First, we look at Invisible Friends – a collection of 5,000 animated avatars in the rubber-hose style akin to the successful video game turned Netflix show ‘Cuphead’. Markus Magnusson, a prolific artist and animator, who previously animated for brands, including Google and Dropbox is the creator of the collection.
We then look at 3Landers – a collection of 10,000 vibrant, googly-eyed avatars made by Thai artist Pom and fashion designer Stubby in cooperation with 0x.studio. Pom has a unique cartoony style and has released many other NFT collections.
Finally, we look at Tubby Cats by the Tubby Collective – a collection of 20,000 algorithmically generated cats. What sets this collection apart is that, besides 69 completely unique pieces, all avatars are generated from 120 unique palettes, rather than from a pool of features.
Please, do not consider this document financial advice.
Data updated on: Feb 28, 2022
Table of Contents
Key Takeaways
- Invisible Friends – With a 30 day volume of over $77 million, Invisible Friends was the 14th most traded collection; the floor price appreciated by nearly 3,020% since the minting on February 23rd, with the top sale at 200 ETH or over half a million dollars.
- 3Landers – 3Landers was the 15th most traded collection in the last 30 days with a volume of over $53 million, and the 6th most traded collection in the last 7 days with a volume of $6,640,143; its floor price grew by nearly 980% since the past two weeks.
- Tubby Cats – The Tubby Cats collection has a high unique trader count of nearly 12,000 at the time of writing, and was the 18th most traded collection in the last 30 days, with a volume of $31,254,570.
Invisible Friends – Floor Price Growth of 3,020%
Blockchain: Ethereum
Launch date: Feb 23, 2022
Edition size: 5,000 – Limited Edition
Traits: 20
Attributes: 332
Floor price: 7.55 ETH
The sales price weakly correlates with the sales volume. Major price hikes appear to be more randomized, while the overall sale price appears to be stable.
Added Utility – Speculative Utility Offering
The utility of Invisible Friends is highly speculative as its developers have not provided a concrete roadmap. However, this project is part of the greater ‘Random CharacterCollective’, which includes collections like ‘Slim Hoods’ and ‘Mood Rollers’, whose holders often get priority whitelists on all future projects. The creator of the collection currently works on an undisclosed collab with Nguyen Nhut, which will likely be released in mid-2022.
Social Awareness and Engagement
Invisible Friends has a prolific and robust online social presence. Its Discord server has 263,972 active users, and boasts a complex onboarding procedure and active moderation team that reduce malicious bot activity and bad actors. Community conversations are ongoing throughout the day and across channels, indicating strong engagement.
Invisible Friends’ Twitter went live in November 2021 and currently has 522,116 followers. The account experienced 20% of its total growth in the last 30 days, gaining 106,673 new followers at an average of 3,555 new followers per day. This indicates strong interest and growing demand for the collection.
The project also has an Instagram account which currently has over 166,000 followers. It mostly shares promotional art.
The traders count correlates strongly with Twitter impressions. The major influx of traders coincides with increased Twitter activity. Following the same pattern, a receding trader count is reflected in decreased Twitter impressions.
Team Overview
The collection was created by Markus Magnusson, better known by his online pseudonym Motionmarkus. Markus is a prolific artist, animator and teacher. He has created animations for companies like Google and Dropbox, as well as released animation tutorials. He is very active on social platforms and has over 90,000 followers on Twitter.
Technical Overview
Like most NFT projects, Invisible Friends stores its metadata using IPFS, rather than fully on-chain. This poses a common challenge to visually rich metadata projects as the smart contracts and the metadata are separate. Still, there are no significant concerns from a technical standpoint.
- Audit status: no audits performed yet
- Storage: Invisible Friends NFTs are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS for immutable ownership
- Contract address: 0x59468516a8259058baD1cA5F8f4BFF190d30E066
Whale Wallet Analysis
Invisible Friends currently has a Unique Holders Ratio of 83%, indicating that it is a highly diversified collection; a lower ratio indicates higher susceptibility to sudden price changes. At 4.36%, its whale concentration is average. A higher whale concentration suggests an increased risk of price manipulation by prominent collection holders. There is only one prominent whale, flur.eth, among the top five holders. The presence of renowned NFT collectors/crypto investors usually indicates increased trading activity and overall higher interest in the collection.
3Landers – Steady Growth and Average Return of 1,349%
Blockchain: Ethereum
Launch date: Feb 21, 2022
Edition size: 10,000 – Limited Edition
Traits: 10
Attributes: 353
Floor Price: 1.47 ETH
The sales price weakly correlates with the sales volume. Major price hikes coincide with days of heavy trading. The ebbing trading activity depresses the average price.
Added Utility – Speculative Utility Offering
The 3Landers development team has stated they want to cultivate a strong community and to bridge the digital world with the physical one, but had not provided a detailed roadmap at the time of writing. The utility of the NFT collection will center on the concepts of identity and customization. The team will reveal all details at a “campfire event” a few weeks after the minting.
Social Awareness and Engagement
The traders count lightly correlates with Twitter impressions.The large influx of traders coincides with increased Twitter activity, while receding trader count coincides with decreased Twitter impressions.
The 3Landers Twitter account launched in September 2021, and has 55,937 followers. Most of its growth occurred in the last 30 days, with the account gaining over 44,682 new followers at an average of 1,489 new followers per day – an indicator of growing demand for the collection.
The 3Landers Discord has 34,697 members. New users have to register their phone and verify through a captcha bot to enter. The server is actively moderated by a dedicated team to ensure the presence of bots, spam and bad actors is minimal. The Discord is moderately populated, with an active community and the mods team frequently participating in discussions.
Team Overview
The core team consists of Pom and AJ, who have made themselves public, lending credibility to the project. They are supported by 0x.studio to run this NFT project. The complete team also includes radiosolacΞ, Δ Delta, RΞI, MadPug, Abaoaqu and PussyCat. The dev team is, overall, staffed by experienced members. Pom is a successful artist who has released a number of NFT collections (including 3Land World), Radiosolace is an ex-Google developer, while Delta is CIO at a top 20 VC CEX, and REI is an ex-MIT web3 developer.
Technical Overview
Like most NFT projects, 3Landers metadata is stored using IPFS, rather than fully on-chain. This poses a common challenge to visually rich metadata projects as the smart contracts and the metadata are separate. Still, there are no significant concerns from a technical standpoint.
- Audit status: no audits performed yet
- Storage: NFTs are stored as ERC-721 tokens on the Ethereum blockchain and graphic assets are hosted on IPFS for immutable ownership
- Contract address: 0xb4d06d46A8285F4EC79Fd294F78a881799d8cEd9
Whale Wallet Analysis
3Landers is a moderately distributed collection, with a Unique Holders Ratio of 53%. The higher the ratio, the less susceptible a collection is to price manipulation or sudden price movements. The top five whales control only 3.47% of the total collection, which is a good indicator that larger holders can’t manipulate prices too much.
There are three known whales represented among the top five holders of the collection: 3landers.eth, gmfer.eth and shoopy.eth. The presence of high-profile traders suggests that the collection could be successful and usually precipitates increased trading interest. However, users should also be wary of following high-profile traders, as their collection exit often precedes a sell-off.
Tubby Cats – Cuteness that Appeals to Traders
Blockchain: Ethereum
Launch date: Feb 21, 2022
Edition size: 20,000 – Limited Collection
Traits: 21
Attributes: 1,697
Floor Price: 0.299 ETH
The sales price is weakly correlated with the sales volume. Major price hikes coincided with days of heavy trading. The ebbing trading activity is depressing the average price.
Added Utility – Speculative Utility Package
Tubby Cats has not released a roadmap for the project, nor made any statements about future plans. As such, there are no known utilities.
Social Awareness and Engagement
Tubby Cats has a lackluster social media presence. The Tubby Cats Twitter account launched in May 2019 and currently has 22,946 followers. The majority of its growth occurred in the last 30 days, when it gained 22,872 followers at an average of 762 new followers per day.
The Tubby Cats Discord is sparsely populated with 18,366 registered unique users. Still, there are active discussions across most channels. It has a thorough verification procedure to prevent bot spam and the presence of bad actors. The server also has an active moderation team to ensure this happens to a minimum.
The Tubby Cats traders count strongly correlates with Twitter impressions. The major influx of traders coincides with increased Twitter activity. While receding trader count is reflected in decreased Twitter impressions.
Team Overview
The Tubby Cats team, known as the Tubby Collective, has not gone public. Ratwell is the lead artist and project lead, with trollart and 0xngmi responsible for the development. Sugoi, Bandage, Hoppy, VKROOO and Sweetbread are supporting artists.
Technical Overview
Like most NFT projects, Tubby Cats metadata is stored using IPFS, rather than fully on-chain.
This poses a common challenge to visually rich metadata projects as the smart contracts and the metadata are separate. Still, there are no significant concerns from a technical standpoint.
Audit status: no audits performed yet
- Storage: NFTs ERC-721 Token on the Ethereum blockchain and graphic assets hosted on IPFS for immutable ownership.
- Contract address: 0xCa7cA7BcC765F77339bE2d648BA53ce9c8a262bD
Whale Wallet Analysis
Tubby Cats currently has a Unique Holders Ratio of 59%, indicating that this is not a well-distributed collection. A lower ratio indicates higher susceptibility to sudden price changes. At 4.55%, the whale concentration is average. A higher whale concentration suggests an increased risk of price manipulation by prominent collection holders. Renowned whales capsuletraphouse.eth and 0xpixelate.eth are among the top five holders. The presence of significant whales boosts the social profile of a collection and usually attracts increased trading activity during buying and selling periods.
Summary
Invisible Friends has hit the ground running and shows strong performance indicators. It is the second most traded collection in the last 7 days, with a volume of nearly $16,000,000.. It also ranked 14th as the most traded collection in the last 30 days, with a total volume of over $77,000,000. The floor price has consolidated above 7 ETH at a 3,020% increase from mint price, while the average price grew 3,352%. The highest sale of 200 ETH / $510,000 occurred only 11 days after minting.
3Landers is another collection showing strong performance despite the turbulent market. The team behind it is publicly known and experienced in running NFT projects. The collection’s trading performance is favorable – it is the 12th most traded collection in the last 7 days, with a volume of $6,640,143 and over 8,000 unique traders. Gaining over 160,000 users on Twitter in 30 days, its social media growth has been meteoric. Similarly, the collection’s floor price and average price appreciated by 980% and 1,349%, respectively.
Despite its low social media following, Tubby Cats has a high unique trader count of nearly 12,000. Still, at only two weeks old, it is the 42nd most traded collection in the last 7 days, and has attracted many traders with its ‘cute’ style and unique way of generating the pieces. The collection’s overall performance, however, is inferior compared to the other two collections previously mentioned. Both 3Landers and Invisible Friends have a much bigger following on social media. Their respective Twitter accounts have 55,937 and 522,116 followers, compared to Tubby Cat’s account which has around 22,946. This performance is also reflected in their respective total sales volumes, where 3Landers and Invisible Friends have volumes of 53 and 77 million dollars while Tubby Cats has 30 million.
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