Here come the Pirates - Pirate Treasure Booty Club launches in two days

Here come the Pirates - Pirate Treasure Booty Club launches in two days

As time goes on, and more NFT projects come out, I've started to hone my DD process when considering new projects to invest in. The reality is, as we all know, most projects won't pan out. I wish they all could be home runs, but they won't, so doing your homework when investing in an NFT project is more important than ever now.

There are a few things I look for in a project that are becoming a make-or-break for me, the current list is:

Great art - this should go without saying but it's important. If you look at an NFT and think the art is ugly AF, you're probably not alone, and yes that will hurt a project since what you're buying is art.

Roadmap - this is critical, it's similar to having a financial model/forecast in a startup. If you don't have a plan for the project I think it's going to be hard to get people to buy-into it going forward.

Active Discord - if your Discord is dead, your project probably doesn't have a lot of momentum. Projects that I've seen do well tend to have very active Discords.

Lots of traits - this might seem like a weird one but I recently added it to my list. Here's the deal - traits make the project a lot more dynamic and allow people to really find NFTs that resonate with them. This also adds to the complexity of rarity calculations which can get pretty interesting especially on the investment side.

Okay, so I know I just talked about a lot of things that aren't Pirate-related in an article about Pirate NFTs, but there's a reason for it. First things first, let's talk about the new Pirate NFT project launching this week - it's called the Pirate Treasure Booty Club and it consists of 10,000 pirates searching for treasure on the OpenSea (clever right!).

Pirate Treasure Booty Club

Before I go any further, I know what some people are going to say. Hey - they're kinda copying the Bored Ape Yacht Club. Yes, this is hard to ignore, at the same time, imitation is the greatest form of flattery so I'm not sure we should see this as a negative. It's a fun concept and the use of OpenSea is pretty hilarious IMO.

So why do I think this project is interesting and investment-worthy? Well now you know why I wrote that list above, let's go through it.

Great art - the artwork looks really cool for this project. Pirates are fun, many of us have been one for Halloween at one point in time, and the artwork here looks really clean. You can take a look at some pirates below:

Pirate Treasure Booty Club Artwork

Next up is the roadmap - I was really excited to see a detailed roadmap on the PTBC website, you might dig it too, here it is:

Pirate Treasure Booty Club Roadmap

I like that they have a clear plan through the end of 2021 and some ideas for 2022. I also like that there's an NFT game associated with the project, I think this will be a lot of fun and adds some real utility to the NFTs.

As for the Discord, it's active and getting more active by the day. Currently there are 301 members online, my guess is we'll see this cross 500 soon. I definitely recommend looking at the Discord and scrolling back in time to look at questions people have asked in the past, this is a great way to get to know the people behind the project and to see how they respond to feedback/criticism.

Last but not least - traits. Holy moly this project has a lot of traits, 158 to be exact. I also really dig that there's a section on the website that walks through the different traits and rarity, you can check it out here. I think this is going to add a lot of excitement to the project right away as people will be able to instantly understand the rarity of the pirates they're getting on launch day.

One thing that I think is going to make this project a bit crazy on launch day is the fact that they have all the pirates already listed on OpenSea, and you'll be able to buy them when they launch. My guess is, there will be a lot of people vying for the most rare Pirates and whoever can click the fastest and boost their gas will win.

This could lead to people spending a lot of time trying to snag rare Pirates, potentially missing out, then trying to grab common Pirates, but they'll all be gone. At the same time, I don't think every project needs to launch with a minting process and to be honest, this is a lot less risky from a technical standpoint since all the Pirates have been created so there will be no people hitting annoying minting bugs.

I'm still trying to figure out my own personal strategy for launch day, but as you can tell, I'm excited about this project and I'm going to try to buy a few, or ten 😜

Also just to be clear, I don't know the people running this project, and I'm not being paid to write this post. In fact, I just learned about this project over the weekend, did some research, got excited, and decided to kick off this week with an article about it.

The launch is June 16th at 3:00pm EST and each Pirate will cost 0.06ETH. Best of luck to everyone, this looks like it's going to be a fun one!

Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.