NTJ DAILY: Chilled Kongs Add Magic To BTC

Journal Entry: 07/04/23

Apr 08, 2023

Happy Friday!

Bad news guys, Substack is still having conflict with twitter, so for now please follow the Twitter links :).

Good news, nothing is going to stop me delivering this newsletter! Now lets get into it.

Welcome to NTJ Daily | A daily newsletter that saves you hours of research on the Cardano NFT market. Subscribe to have it delivered to your inbox.

Lets go over the last 24 hours.

Main headlines 📰

The biggest news that impacts the Cardano NFT Community.

➤ Chilled Kongs Add Magic To Bitcoin

Chilled Kongs Add Magic to Bitcoin

Chilled Kongs (CK) announces BTC Ordinal mint with 500 Magic Kongs (MK) heading to the bitcoin blockchain. CK Holders have the option to mint an ordinal by trading in:

6 x Cubensis or 2 x Azzie Magic Mushrooms.

Lets discuss this move and how it could affect you.

What is an Ordinal?

Ordinal NFTs use ordinal theory to assign unique numbers to individual Bitcoin satoshis, allowing users to attach data such as images and videos to them on the base Bitcoin blockchain without extra layers. Recent updates to the Bitcoin protocol have made this possible.

Now the boring parts over…

Positives:

Reduction of supply of MK’s CNFT Collection (between 1k-3k)
Increase demand in Magic Mushrooms (price goes up)
Adds unique BTC Ordinal Collection

Negatives:

Only few holders will get the BTC Ordinal
Appears to show weakness from the team as last minute announcement
No value proposition against the BTC collection other than it being an Ordinal.

My perspective (non-holder):

Ordinals are trending at the moment, and the move is certainly taking advantage of that. Although the move lowers the MK total supply, their lies the question whether a Ordinal MK would have the same value? From outside looking in its appears this move is an attempt to save the Cardano collection value. It will be interesting to see if the team do the Ordinal mint before the transformations.

I’d love to hear your thoughts in the comments.

Bitesize Announcements 👀

Bitesize announcements to get your teeth into.

Cardano Croc Club announce Swamplands Update. The update covers delay in Land NFT release but positive news on investment pay-outs. (Full Discord Announcement)
Goombles share a preview on their game development on twitter.
Astro announce their whitepaper release April 17th and launch of their Flux website. (Full Discord Announcement)
Stag Alliance announce airdrop for portal passes and update the community. (Full Discord Announcement)
Happy Tigers Start the Tiger Trials. A two week event for holders to win the following prizes.
C4Poker.io update community of Version 2 of the poker platform. The version looks to introduce tournaments and is in its final testing stage. (Full Discord Announcement)
Clumsy Ghosts update community on Badges of the Valley. The main point of focus in season 1 on Clumsy ghosts. (Full Discord Announcement)
SpeedThrone share final teaser for the game demo and open access to holders. Really worth checking out guys, the team are making moves and the game looks fun. (Full Discord Announcement)

Influential Twitter Threads & Spaces 🐦🧵🎤

Twitter is an amazing source of information. Help me share the best tweets, threads & spaces by tagging @NFTSchl in the comments.

🎤 CardanoThor hosts his NFT Friday Show
🧵 Onewisemelon continues to analyse the top projects in his latest thread on Keyboard Warrior Internet Café

24HR Market Statistics 📈

All data fetched from both Opencnft & CNFTJungle

24HR Market Volume

ADA: 514,000₳ +6.75%

USD: $197,000

Largest Sale:

EarthNode #685 - 75,000₳

EarthNode #411 - 70,000₳

Mocossi-ito-2-49993 - 9,900A

Missing an announcement? Has your favourite influencer not been covered?

These things can happen. And whilst I apologise, I am a one man researcher.

You can help me by tagging my Twitter Account: @NFTSchl on anything you find interesting! Or hitting me up in my DMs on Discord: NFTeacher#3817.

Together, we can make this the Number #1 resource to help you navigate the market.