NiftyNoon: Did Nakamigos Cloaks Destroy its Community?

Nakamigos experiences widespread community backlash following the announcement of a paid 20K secondary collection (September 14, 2023)

Nifty Thought

• Nakamigos, perhaps best known for its strong community, has recently upset the entire NFT space with its announcement of Nakamigos Cloaks. This will serve as the project’s secondary collection with a supply of 20,000 and a mint price of .05 ETH. Although the mint price seems small, it is actually quite large relative to the price of the main Nakamigos collection (currently .185 best offer on OpenSea). Furthermore, unlike virtually every other major secondary collection drop, holders of the Nakamigos primary collection were initially told they would not receive a free NFT from the secondary collection. However, following widespread community backlash and a collapsing floor price, the team quickly reversed this decision.

• While holders now get access to a free mint, some negativity surrounding the original mint structure remains. It is clear HiFo Labs, the creators of Nakamigos, did not build this secondary collection with their loyal holders in mind given the initial mint structure.

Highlighted News

• Nakamigos announces free mint for existing holders:

https://x.com/nakamigos/status/1702322280775418165?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Project and Community News

• FTX receives court approval to liquidate $3.4 billion in crypto assets:

  https://twitter.com/watcherguru/status/1702014395344122237?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Bored Ape Yacht Club introduce the Made By Apes Bodega:

  https://twitter.com/boredapeyc/status/1702072927963779147?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Koda holders have until 11:59pm PT tonight to claim their Founders Box for Wreck League:

  https://twitter.com/othersidemeta/status/1702115398693327140?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• @GotrillaGorilla reacts to Nakamigos Cloaks:

  https://twitter.com/gotrillagorilla/status/1702072092177428818?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Larva Labs had the right idea. Free mint, no promises, no royalties, no utility:

  https://twitter.com/tenaciouseth/status/1701976265715032185?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Stoner Cats charged by the SEC:

  https://twitter.com/loopifyyy/status/1701966597445874124?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• @smokethatdank1 reacts to Nakamigos developments:

  https://twitter.com/smokethatdank1/status/1702090400435949578?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Explore 7 Factorial:

  https://twitter.com/eli_schein/status/1701722771070583069

• Machi's Apecoin proposal to use 11,000,000 $ APE to purchase Apes/Mutants/Punks and place them into museums is finally going live for voting:

  https://twitter.com/cirrusnft/status/1701995959012725188?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Punks holders invited to Punks Brunch Charleston on Sunday Oct 1st @ 10AM following the @beeple Studios meetup:

  https://twitter.com/cryptopunksnfts/status/1702080129210417617?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• In partnership with @Crocs, VeeFriends will deliver a spectacle at New York’s 50th Annual Village Halloween Parade:

  https://twitter.com/veefriends/status/1701995151009476982?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• KZ Labs including @Yogapetz, Keungz Genesis, and @kubzjungle form a Strategic Partnership with Soul Capital and newly acquired @MonkeyKingdom:

  https://twitter.com/yogapetz/status/1701921043538145455?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Banana Gum change to the plan to make everyone whole:

  https://twitter.com/bananagunbot/status/1701966842217025826?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Friend Tech airdrop won't be for months:

  https://twitter.com/rektmando/status/1701998755342438452?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• What's Wawa? :

  https://twitter.com/eboyarts/status/1702091466435416393

• @ShiLLin_ViLLian addresses misinformation in crypto space:

  https://twitter.com/shillin_villian/status/1701993994652115163?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Punk 6915 has a new bid of 800 ETH ($1,278,808.01 USD) placed by 0x0232d1:

  https://twitter.com/cryptopunksbot/status/1701951944095408272?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• Blur ETH Daily Volume: 4,329 ETH (▲ 15.26%)

• OpenSea ETH Daily Volume: 1,380 ETH (▲ 1.17%)

• BTC: $26,278.20 (▲ 1.23%)

• ETH: $1,618.37 (▲ 1.85%)

• Solana: $18.70 (▲ 4.41%)

• Polygon: $0.52 (▲ 1.43%)

NFT Daily Winners:

• 🐧 Pudgy Penguins: 3.96 ETH (▲ 2.64%)

NFT Daily Losers:

• 🚬 CryptoPunks: 46.49 ETH (▼ 0.02%)

• 🧬 Clone X: 1.30 ETH (▼ 0.16%)

• ⛰️ Otherdeeds: 0.56 ETH (▼ 0.71%)

• ⛩️ Azuki: 3.73 ETH (▼ 1.03%)

• 🏳️‍🌈 Chromie Squiggles: 10.00 ETH (▼ 1.96%)

• 🦉 Moonbirds: 1.16 ETH (▼ 2.30%)

• 👩🏻 Milady Maker: 2.27 ETH (▼ 2.70%)

• 🏴‍☠️ Captainz: 3.50 ETH (▼ 2.80%)

• 🌈 Doodles: 1.26 ETH (▼ 4.51%)

• 🧟 Mutant Ape Yacht Club: 4.89 ETH (▼ 4.64%)

• 🦧 Bored Ape Yacht Club: 23.20 ETH (▼ 7.57%)

• 🐈‍⬛ VeeFriends: 1.76 ETH (▼ 18.62%)

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