A high-level overview of the MekaVerse, KaijuKingz, MutantCats, and Yakuza Cats Society NFT collections
In this New Dapps Report we look at NFT collectibles from four new collections; MekaVerse, Kaiju Kingz, MutantCats, and Yakuza Cats Society. This executive report focuses on distribution metrics, sales activity, whales’ behavioral patterns, and technical overviews.
The following document belongs to the “New dapps series”, a set of executive reports that intend to provide users with a high-level perspective of recently launched dapps. The report focuses on relevant aspects for any decentralized application such as financial metrics like sales activity and price analysis, distribution metrics like Unique Holders Ratio or the Whale Concentration Index, whales behavioral patterns, and detailed social and technical overviews.
Introduction
In the last two months, the NFT space experienced high activity that led to massive trading volumes. For this edition of the New Dapps Report, we focus on four NFT collections that launched during the first two weeks of October (actually one was launched on September last day, anyway, it is worth revisiting) and have been amongst the most talked about NFT projects since their respective launches.
Starting with MekaVerse, one of the most hyped NFT projects ever. The art is one of the most elaborated in the space and one that creates nostalgia out of mecha fans. The project remains atop of the trading charts, although the floor price has been decreasing since the reveal.
Kaiju Kingz and MutantCats are two projects that contain high utility factors. The first one is very similar to the blue-chip CyberKongz, with a yield-bearing utility token and breeding mechanisms. The latter is a very innovative project that provides owners with fractional ownership of top-tier projects like CoolCats or CryptoPunks via a DAO.
Finally, the Yakuza Cats Syndicate, an NFT project with game mechanics. The collection will try to evolve into a complete play-to-earn game and will include second-generation NFTs. To learn more about these interesting projects, continue reading below.
Please, do not consider this document as financial advice.
Data last updated on: Oct 18, 2021
Table of Contents
- Key takeaways
- MekaVerse
- Kaiju Kingz
- MutantCats
- Yakuza Cats Society
- In Summary
Key Takeaways
- In less than two weeks since launching, MekaVerse has generated over $139 M in trading volume, making it the 13th most traded collection ever.
- Inspired by CyberKongz, Kaiju Kingz has generated over $28 M in less than a week of existence, the floor price has surpassed 4 Ξ as the demand for the project keeps rising.
- MutantCats provides its owners with FISH tokens that represent fractional shares of Cool Cats held in the DAO vault; the project has amassed over $41M in trading volume and has attracted over 16,500 traders.
- The Yakuza Cats Society floor price is 212% up from the mint price; although the trading volume has slowed down, the collection has attracted over 9,300 unique traders.
MekaVerse
Blockchain: Ethereum
Launch date: Oct 7, 2021
Edition size: 8,888 – Limited Collection
Traits: 10
Attributes: 236
MekaVerse is a collection of 8,888 generative avatar NFTs. The collection is inspired by mechas, Japanese robots that are popular in manga and anime like Gundam and Evangelion. A power move to attract those fans that identified with the gigantic robots.
The launch of MekaVerse was one of the most hyped ever. To be fair, the artwork is one of the most attractive in the space. Due to the excessive community that surrounded the project before the launch, the team decided to create a raffle to avoid high gas wars and ensure a fair distribution.
Added Utility
At the moment, there are no added utilities related to this collection. However, the roadmap includes interesting milestones. The plans include 3D printing to transform the Mekas into toys, as well as merchandise and apparel inspired by the collection.
Also, the MekaVerse roadmap points out a potential second NFT drop and metaverse plans.
Financial Overview
The MekaVerse enjoyed one of the most trepid starts in the NFT space. The hype before the launch, and the limited supply in comparison to the high demand, caused large trading volumes in the project’s first days of existence. In less than two weeks since the launch, the collection has amassed over $139 M in trading volume, making it the 13th most traded collection ever at the time of writing. Even surpassing collections like VeeFriends and Curio Cards.
Before the art was revealed four days after the launch, the floor price reached 9 Ξ. However, once the art was made public, the floor price collapsed. Nonetheless, it has nothing to do with the art, it is due to the lack of immediate utility, coupled with some controversial tweets that started to surface, that the floor price plummeted all the way down to 1.7 Ξ. Albeit a price reduction, however, demand for the project is still high.
- Mint Price: 0.2 Ξ
- Floor market cap: $56,913,179
- Current Floor Price: 1.7 Ξ (750% up from mint price)
- Average sale price: 5.5633 Ξ (2,682% up from mint price)
- Highest sale: Meka#8597 for 125 Ξ / $449,653.88
- Initial revenues: +1,777 Ξ
- Unique holders (ratio): 5,234 (58.88%)
- Total Volume: $139,629,981 / 38,331.54 Ξ
- 7 day volume: $60,195,216
- Buyers vs Sellers ratio: 1.025 (9,580 / 5,281)
- Traders: 12,966
- Secondary market royalty: 2.5%
- Token: MEKA
Social Awareness and Engagement
MekaVerse boasts one of the largest communities in the NFT space. There are more than 200,000 members on both Twitter and Discord respectively. Although the inflated community numbers have a direct relation with the hype around the launch, the social metrics still indicate that the demand for the project is considerable.
- Twitter followers: +230,500
- Discord members: +244,000
- Announced collaborations: None
Team Overview
Mattey and Matty Braccini are the minds behind MekaVerse. Both are talented artists that have worked for big retail companies and have been involved in the NFT space for some time now. Their artwork is accessible in their profiles within the MekaVerse site.
The rest of the team is unknown, still, having public founders is positive.
- Creator: Mattey and Matty B.
- Team: unknown
Technical Overview
The MekaVerse launch experienced a couple of setbacks and issues, but nothing major that compromised the integrity of the project. One of the issues regards the metadata. Due to the high resolution of each Meka, the IPFS storage process has not been the smoothest.
The unrevealed Mekas have not been updated yet. From a technical standpoint, that’s the only aspect to monitor at the moment.
- Audit status: no audits committed yet
- Storage: MekaVerse NFTs are stored as ERC-721 tokens and hosted on the Ethereum blockchain.
- Contract address: 0x9A534628B4062E123cE7Ee2222ec20B86e16Ca8F
Whale Wallet Analysis
Despite a fair distribution with the raffle event, the top 5 whale wallets have hoarded almost 2% of the entire supply. Nonetheless, the Whale Concentration Index (WCI) remains amongst the lowest in the space for big collections. The risk of market manipulation is low.
MekaVerse whales do not present any other correlation with any other popular collection. Nevertheless, there are two wallets, not whales, that have over 10 Larva Labs pieces along with more than 10 Mekas each.
Whale concentration ratio: 1.92% – 171 pieces
Kaiju Kingz
Blockchain: Ethereum
Launch date: Oct 14, 2021
Edition size: 3,333 Genesis Kaijuz in existence (6,666 Kaiju babies to be born) – Limited Collection
Traits: 13
Attributes: 208
Kaiju Kingz is a collection that consists of 3,333 pixelated Genesis Kaijuz at the moment. The project sold out in seconds even though the original plan was to be a stealth drop. As a result of the very limited supply, the Kaiju Kingz team decided to create a series of tasks that individuals must complete in order to access the public mint.
Inspired by the CyberKongz, the Kaijuz have become one of the most popular NFT projects in October.
Added Utility
As mentioned, Kaiju Kingz is inspired by the Cyberkongz, one of the projects with a high utility factor. Kaijuz owners will be able to yield 5 daily RWASTE, the collection’s utility token. RWASTE will be used for breeding purposes in a similar fashion to the Kongz’s BANANA. Kaijuz owners will be able to use two Genesis Kaijuz to mint a Kaiju baby for 750 RWASTE.
In addition, Kaiju Kingz will become a DAO. The KaijuKingz DAO will aim to expand the Kaiju ecosystem, as well as create a community to foster growth within the Web3 and NFT spaces.
Finally, the roadmap contains another interesting milestone. It appears that Kaiju owners will be able to mint voxel Kaiju versions. Again, identical to Kongz and its VX version. All in all, a very strong utility factor.
Financial Overview
Financially, the Kaijuz seem consolidated. In less than a week since its launch, the Kaijuz have generated over $28 M in trading volume. Despite the limited supply, the collection has generated more volume than other new collections that have triple the Kaiju supply. One particular reason is the high demand for the project.
The buyers vs sellers ratio stands at 1.772, meaning that the current demand for the project almost doubles the supply. Moreover, early Kaiju investors are at least 6,500% in profits territory.
- Mint Price: 0.06666 Ξ
- Floor market cap: $55,866,981
- Current Floor Price: 4.45 Ξ (6,576% up from mint price)
- Average sale price: 4.3712 Ξ (6,457% up from mint price)
- Highest sale: KaijuKing#1 for 45.15 Ξ / $ 174,365.38
- Initial revenues: +222 Ξ
- Unique holders (ratio): 1,800 (54.01%)
- Total Volume: $28,029,417 / 7,918.17 Ξ
- 7 day volume: $28,029,417
- Buyers vs Sellers ratio: 1.772 (2,149 / 1,213)
- Traders: 3,111
- Secondary market royalty: 2.5%
- Token: KAIJU
Social Awareness and Engagement
For a project so nascent, the Kaiju community is in a very good position. The social factor in projects like the Kaijuz gains relevance, as the DAO will be the way to enhance the project going forward. It is expected that the KaijuKingz DAO empowers the upcoming talent. 20 special Kaijus are reserved for those members that take their role as mentors and artists to further develop the project.
- Twitter followers: +20,000
- Discord members: +38,700
- Announced collaborations: None
Team Overview
As previously mentioned, the Kaijuz were inspired by Kongz. Nathan is the founder of Augminted Labs, the project officially behind the Kaijuz. Having a lead developer with vast experience in the NFT space bodes well for the project. The rest of the team is public, a positive sign.
Technical Overview
Perhaps the biggest weakness of Kaiju Kingz resides in the technical aspect. The storage of the project is not publicly disclosed. However, the biggest concern relates to the RWASTE contract. While NFT token contracts may not require the same scrutiny as in other types of contracts, yield-bearing contracts do. Hopefully, the Kaiju Kingz team will tackle this situation in the near future.
- Audit status: no audits committed yet
- Storage: Unknown.
- Contract address: 0x0c2E57EFddbA8c768147D1fdF9176a0A6EBd5d83
Whale Wallet Analysis
The Kaiju Kingz remains a concentrated collection from the whale perspective. However, due to the limited supply and the breeding mechanisms, this shouldn’t be a major red flag.
As expected, at least one of the Kaijuz whales is a Kongz whale too. The similarities between both projects have lured Kong owners into the Kaiju ecosystem. It is also interesting to see that two of the five whales have a very active DeFi activity. It is clear that individuals with strong connections to DeFi are looking at NFT projects that may complement their passive income strategies.
Whale concentration ratio: 11.01% – 367 pieces
MutantCats
Blockchain: Ethereum
Launch date: Oct 5, 2021
Edition size: 9,999 – Limited Collection
Traits: 20
Attributes: 113
MutantCats is a collection of 9,999 randomly generated mutant cats. The project aims to become a fully operational DAO that provides its owners with a fraction of pieces from premier NFT collections that are acquired. Even though the project was stealthily launched, it sold out in minutes.
Added Utility
The utility factor in MutantCats is robust. The goal of the project is to become a fully functional DAO. With the goal of constantly purchasing blue-chip NFT projects like Cool Cats and CryptoPunks, to be fractionalized and distributed among the collection owners. Each Mutant Cat grants access to the DAO community and its governance rights over the owned assets.
In addition, MutantCat owners can stake their NFTs to gain 10 FISH tokens per day. The FISH token represents the fractionalization of all Cool Cats purchased by the DAO. With FISH, MutantCats is another NFT project that provides passive income to their owners by either holding or staking their NFTs.
Finally, the roadmap includes breeding mechanics. This is expected once the staking phase is completed.
Financial Overview
Boosted by the high utility, the project has experienced a strong start on the financial aspect. MutantCats have generated over $41M in trading volume, with almost half of it happening in the last 7 days. The demand for the project continues to grow, with more than 16,500 traders involved in the collection.
Even though the MutantCats have not generated any whopping sales yet, the price of the collection has been rising. The floor price has surpassed 1.6 Ξ, and early investors are at least 3,150% up from the mint price. At the time of writing, 87.1% of MutantCats are staked into the contract.
- Mint Price: 0.05 Ξ
- Floor market cap: $61,202,592
- Current Floor Price: 1.625 Ξ (3,150% up from mint price)
- Average sale price: 0.7062 Ξ (1,312% up from mint price)
- Highest sale: MutantCat#1025 for 16.9 Ξ / $59,504.01
- Initial revenues: 500 Ξ
- Unique holders ratio*: 58%
- Total Volume: $41,304,481 / 11,657.32 Ξ
- 7 day volume: $20,791,575
- Buyers vs Sellers ratio: 1.493 (11,019 / 7,382)
- Traders: 16,508
- Secondary market royalty: 5%
- Token: MUTCATS
Social Awareness and Engagement
The social/community factor in MutantCats is another of the project’s strengths. Both Discord and Twitter communities are active. The Mutant Cat DAO will become the entry point for exclusive NFT drops like the MutantGorillaz, and further utility like future claimable NFTs.
- Twitter followers: +11,700
- Discord members: +31,065
- Announced collaborations: MutantGorillaz
Team Overview
The MutantCats team remains a mystery. Still, they are quite active and responsive on both Discord and Twitter. Although anonymous teams are not ideal, the focus around the DAO and the visibility over the acquired assets lower any major risk.
As per the MutantCats team: “Community is the foundation of our success”.
- Creator: Unknown
- Team: Unknown
Technical Overview
Like other projects that include yield-bearing tokens, the main flaw relates to the technical aspect. The staking contract has experienced a couple of issues even causing their owners to migrate to a new staking contract. In addition to these minor setbacks, staking contracts are prone to malicious attacks. Auditing should be a priority for the team.
- Audit status: no audits committed yet
- Storage: Unknown.
- Contract address: 0xaAdBA140Ae5e4c8a9eF0Cc86EA3124b446e3E46A
Whale Wallet Analysis
Because of the NFTs being locked in a staking contract, the whale distribution index should only be considered a mere estimation. Nonetheless, it is very positive to see MutantCats whales holding other blue-chip projects like CyberKongz, Art Blocks, Meebits, Bored Apes, and Cool Cats.
Whale concentration ratio: ≈1%
Yakuza Cats Society
Blockchain: Ethereum
Launch date: Sep 30, 2021
Edition size: 8,930 – Limited Collection – Genesis
Traits: 12
Attributes: 382
The Yakuza Cats Society (YCS) is a collection of 8,930 randomly generated avatar NFTs. The collection received a lot of hype and sold out in minutes. The collection is inspired by the renowned Japanese secret society. With over 380 attributes, YCS has a very complete rarity distribution.
Added Utility
The YCS is poised to become a complete play-to-earn game that will feature PVE and PVP battles. YCS will include second-generation Yakuza Cats that will be used in the future play-to-earn game.
At the current stage, the collection only includes a mini-game that features a contest between two Yakuza syndicates or teams. This contest is in reality a staking war between both sides. By staking the YCS NFT in one of the two teams, owners will receive 100 DAMA during the first 30 days. It is worth mentioning that staking Yakuza Cats do not require any vesting period, therefore, holders can move from one team to another at any time.
DAMA is the collection’s utility token and is used in the collection’s first mini-game, the Pachinkos machine. The utility factor in YCS will be strengthened further in the short term, once/if the ETH/DAMA liquidity pair is supplied in Sushiswap.
Financial Overview
Despite the high utility factor, the YCS does not boast the trading numbers seen in other collections that were recently launched. Nonetheless, YCS has achieved almost $17.5M in trading volume. The collection is not well distributed as of now, but the number of unique traders indicates that there is a market for the collection.
Early investors are at least 200% above the mint price.
- Mint Price: 0.0893 Ξ
- Floor market cap: $9,384,595
- Current Floor Price: 0.279 Ξ (212% up from mint price)
- Average sale price: 0.3758 Ξ (321% up from mint price)
- Highest sale: Yakuza#4621 for 14.69 Ξ / $49,791.46
- Initial revenues: 797 Ξ
- Unique holders (ratio): 3,757 (42.07%)
- Total Volume: $17,468,563 / 4,379.78 Ξ
- 7 day volume: $1,597,810
- Buyers vs Sellers ratio: 1.522 (9,265 / 6,084)
- Traders: 9,308
- Secondary market royalty: 5%
- Token: YCS
Social Awareness and Engagement
The YCS community is already significant, especially on Discord. The social aspect gains relevance in projects that have a game perspective. Even though Yakuza Cats are not being constantly used as avatars in social media, the community is being vocal about the project’s roadmap and overall functioning.
- Twitter followers: +32,000
- Discord members: +113,000
- Announced collaborations: None
Team Overview
The YCS creator is unknown and the team is a pseudonym. The core team consists of eight members located in the USA and Asia. It manages to cover critical positions of any NFT project. Whilst it is not ideal to have pseudonym founders, the milestones in the roadmap are much more important. If the team achieves to complete them, using a pseudonym becomes irrelevant.
- Creator: Unknown
- Team: Koroshika, Bushido, Shabu, et. al
Technical Overview
It is early to have audited contracts. Yet, the importance remains high. Hopefully, the YCS team will soon announce audits for their staking/yield-bearing contracts. This will become more relevant when the project evolves into its play-to-earn self.
- Audit status: no audits committed yet
- Storage: Unknown.
- Contract address: 0x454cBC099079DC38b145E37e982e524AF3279c44
Whale Wallet Analysis
The YCS Whale concentration Index shows a slightly concentrated collection. Still, not enough to raise any risk of potential market manipulation. On the other hand, it is a positive sign to see the collection of whales interested in other blue-chip NFT projects like Meebits, Art Blocks, and CyberKongz.
Whale concentration ratio: 6.93% – 619 pieces
In summary
After two months of a hot NFT market, October has not taken the foot off the pedal. The utility that NFT projects provide is gaining relevance by the day. Projects like Kaiju Kingz and MutantCats have been widely sought out, whereas collections like YCS, may gain traction once the game development and the roadmap are more mature.
MekaVerse, one of the most hyped collections ever, has been the most traded project, behind Axie Infinity, for the last two weeks. Despite having one of the most genuine artworks in the entire NFT space, the collection’s floor price has collapsed by more than 80% since its all-time high. This is another proof that, in NFT collections, regardless of the visuals and the art itself, the project must disclose a complete roadmap with visible utilities that satisfy the growing market expectations. Nonetheless, the community is already massive, the project is well distributed, and the demand for the project is still high.
Another project with a high trading volume is Kaiju Kingz. The similarities with a top-tier project like CyberKongz are pushing the demand upwards. There will be fewer times when copying a project works. In this case, the result was positive. If the team meets the roadmap milestones, the Kaijuz will offer a high-end utility for their owners that will even get into virtual worlds.
MutantCats joins the aforementioned projects as a collection that have raised the attention of the NFT community in October. Giving their holders an opportunity to own a fraction of a blue-chip collection like Cool Cats is groundbreaking. The DAO factor is definitely a strong community signal. Perhaps the main concern besides the technical aspect, is that, whilst MutantCats is undoubtedly an innovative and complete project, it also has a high dependency on another project, in this case, Cool Cats. The probability of Cool Cats collapsing is low, still, there is a degree of attachment.
Yakuza Cats Society is the latest NFT project with a game background. YCS already offers a mini-game to their holders, which bodes well for the project’s perception. Even though the sales have not reached the volumes of other collections, it is still a sought out project. If the team manages to turn YCS into a complete play-to-earn game, the genesis Yakuza Cats might become relevant. Still, a long way to go.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, MATIC, SOL, AVAX, DOT, KSM, MOVR, XTZ, LUNA, UNI, SUSHI, xSUSHI, MSOL, MNDE, ORN, AKRO, KNCL, EGLD, BAT, CRO, SHIB, LINK, BAND, BNB, CAKE, OOE, DNXC, DPET, TVK, POLS, POLK, RAMP, XED, AXS, SPS, ATLAS, POLIS, ILV, GALA and owns collections like NBA Top Shot, Ghxsts, Cool Cats, CyberKongz VX, SupDucks, Punks Comic, RSoP, Legendz, Metahero Universe, Pixel Vault DAO, Avastars, Dogs Unchained, CryptoKitties, VeVe NFTs and 1/1 art pieces.
