NEW PROJECT: The Wicked Craniums
Mr. Fox introduces the hottest NFT project in the space right now - The Wicked Craniums.
In today’s piece, I’ll be breaking down a new digital avatar project called The Wicked Craniums. Although only 24 hours old, it has done the second most amount in sales over the last week out of all of the NFT projects in crypto.
If you missed the Bored Ape Yacht Club run (check out my first piece explaining the Bored Ape Yacht Club here) and want to start getting involved in the NFT world, prices are low enough in The Wicked Craniums that you may want to consider buying one.
*Remember that none of this is financial advice. I’m just trying to keep you up to date with what people in crypto are talking about.*
So, what is a Wicked Cranium?
A Wicked Cranium, exactly like how we discussed in the Bored Ape Yacht Club email, is a digital avatar.
Here is what they look like:
There are and only ever will be 10 762 Craniums, each one entirely different from the rest. Like Bored Apes, a Cranium can have a bunch of different looks, some more rare than others. The rarer the Cranium, the more expensive it is. Let’s look at two examples:
The Cranium above is listed for 30 Ether (roughly $60 000 USD). You see it’s Gold colour? Well that’s its body, which is one of the traits that make up a Cranium. Only 0.84% of Craniums also have a Gold body, which is why this one goes for so much.
On the opposite side of the spectrum, you have this Cranium listed for 0.19 Ether ($380 USD). None of the traits it has (its vest, eyes, head, body, mouth, etc.) are very rare, so it isn’t worth too much at all.
Now that we understand what a single Cranium looks like, let’s get into The Wicked Craniums project as a whole. What do you get out of buying a Cranium?
The biggest use of buying a Cranium is to use it as a digital avatar. I will be coming out with a dedicated piece that breaks down Digital Avatars as a whole soon, but if you don’t understand why somebody would buy one, I highly recommend you read my first piece, What Is The BORED APE YACHT CLUB And Why Did I Invest?
Don’t take it from me though, this is a Tweet from one of the biggest NFT influencers in the world on the importance of digital avatars:
Ok, so another digital avatar project, aren’t there already a bunch of these? Why should I think about buying a Cranium? Three reasons.
Digital avatar projects are booming. Investors are struggling to make returns in the stock market and in cryptocurrencies like Bitcoin and Ethereum, so they’re trying to find another way to make money. NFT projects is what they are looking at now. I can’t promise you Craniums will be here 5 years from now, but if you’re looking to take advantage of what’s hot, this would be an awesome start.
Everybody will need a digital avatar in The Metaverse. Remember that millions will populate The Metaverse and each will need their own avatar, so although it may seem as if there are a bunch of similar projects to The Wicked Craniums, relative to the number of avatars we will need, we have barely started. If the first reason above is a short-term reason to buy a Cranium, the chance that they will play a big role in The Metaverse is your long-term reason.
The Wicked Craniums project has its own unique aspects. Even though at its core The Wicked Craniums is a digital avatar project, they still have some pretty cool other things lined up. The best of which is something they call The Cradle, which will be a social media platform that only owners of Craniums can access. Here Craniums will interact with each other, share their NFTs, and communicate about the project. It will be one of the first exclusive social platforms in the history of NFTs. They plan on releasing merch, trading cards, and then finally, they’ll be putting out an Augmented Reality app for Cranium owners to interact with fictitious characters from the project.
To make it really simple. You would buy a Cranium because it is a well-run project that bets on the future of a Metaverse, and compared to other projects in the space that do similar things like CryptoPunks or the Bored Ape Yacht Club, they are still very cheap.
I personally will be buying a Cranium with the hope that it does well, but with the expectation that I don’t get very much out of it. My Cranium investment will make up 2.6% of my portfolio. You should only put in what you’re okay with losing. Remember that all this crypto stuff is still new, and that nobody has a clue who the real winners and losers will be when the dust settles.
What are some of the ways that I see Craniums failing?
The hype runs out. There are probably 10 active digital avatar projects in the NFT space right now, most of which have gotten hot in the last two weeks. Are these projects real or are they simply people looking to make a quick buck? Will investors keep buying into them?
The people running the project fail. The Wicked Craniums has only been live for 24 hours, which isn’t enough time to tell for sure whether the developers will be able to deliver on everything they promised.
How do I make my decision then? I invest what I’m willing to lose and keep looking for the newest innovations and projects in the space. The Metaverse will become the biggest economy in the world, and now is the only time we have to take chances on investments in the space.
If you learned anything please consider sharing the newsletter with friends. If you end up buying a Cranium or have some more questions, just shoot me an email. I don’t have a specific schedule that I’ll be writing on, but I have a feeling my emails will be split up into the following categories: NEW PROJECTS where I tell you what is hot right now, CONCEPTS where I break down the way certain things work in crypto, WEEK-IN-REVIEWS where I give you all of the most important news in crypto over the last week, and PORTFOLIO updates where I talk to you about what I’m holding and my general sentiment on the market.
And down the Rabbit Hole we continue.
Mr. Fox