Pirates soar while Yeti's flop, or is it all fud?
Well this week has turned out to be another exciting one in the NFT world with Yeti's and Pirates taking center stage. Both projects seem to have taken a different trajectory on the Twitterverse and like the title of this post says, one seems to be gaining popularity while the other is getting scary.
First things first, I have skin in the game with both of these projects so I'll just get that disclosure out of the way. Also, I'm a lover not a hater, and I love my Yeti's and my Pirates.
What's hard to ignore is the difference in momentum both of these NFT projects have this week - hence this blog post. First - let's do a recap since I know not everyone reading my blog stays completely plugged-into all the insanity that is the NFT investment space today.
Let's start with Yeti's, by which I mean Super Yeti. If you don't know much about Yeti's, you can read this post from their launch date on June 8th alongside Gutter Cats. Myself, along with many others minted Yeti's but we didn't know what we got. Instead Yeti's picked yesterday, June 15th as the day that you got to see if you picked up some solid Yeti's or some duds.
If you don't know how the reveal process works it's pretty simple. Essentially, when you mint the NFT it shows up in your account but without any properties and usually with a default image. On the day of the reveal you hit the "refresh metadata" button in OpenSea and poof - you see what you got.
Personally I thought the big reveal was pretty exciting, but I seem to be in the minority as many people started calling Yeti's a dud and people complained of wasting money on Yeti's on Twitter. I can't say I completely understand why people think the project is a dud the day after the reveal but I guess we'll see what happens over time. All I know is, the people who bought Yeti's didn't seem as excited as I would have expected.
Okay, now let's talk Pirates, by which I mean Pirate Treasure Booty Club. Unlike Yeti's - Pirates took a different approach. Rather than minting the NFT and getting your Pirate randomly assigned, they decided to load all the Pirates onto OpenSea and make them available today at 3:00PM EST.
This was a pretty interesting process since PTBC decided to forgo the random minting process and instead let NFT investors duke it out to get the Pirates they wanted.
For me, I really enjoyed the process, I used OpenSea filters to find rare traits and created a zillion tabs for different Pirates that I wanted. At the strike of 12:00PM PST I hit the buy button on my top choice, which someone got to first, quickly moved to my second choice, hit buy, told MetaMask to speed up the transaction, and kept going until I had four Pirates.
I was happy with what I got and the community seems pretty jazzed right now, the Discord is buzzing and Twitter has quickly become Pirate-themed. The same did not happen with Yeti's which I'm a little sad about because like I said, I like both of these projects, but I'm just one person, the way the Twitterverse reacted to both was noticeably different.
So what does this mean for Yeti's and Pirates? IMHO it's still way too early to tell but it looks like Pirate Booty Treasure Club has some serious momentum, the question is - can they keep it? Yeti's clearly seems to have some disappointed people, can they turn it around?
Only time will tell.
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.