A stealth mint that happened a few days ago took many by surprise. It sold out after only three hours and discords across the metaverse are humming about it. CryptoBirbs are a CrypToadz and Cryptodickbutts (CDB) inspired art project designed by Vodnik. They have no roadmap nor utility. For those that don’t know, CDB is a collection of 5,200 NFTs with an initial mint price of .052 ETH. With no roadmap, no instructions on how to mint, and not much direction, they quickly sold out, because crypto investors are hilarious. The CDB floor currently hovers around 2.1 ETH.
The Power of the Meme
The NFT community is peculiar. What works and what sells is often unexpected. Behind a successful mint is often a group of investors who like to meme and have fun.
during good times a dose of reality is important, lest we become weak. so, let me ask you this:
Why the fuck are you buying pictures of pixel dicks??
you could be buying food, rent, car, bike, house, nothing, shoes, banana, chair, watch, time, health, drugs, selfactualization
— CryptoDickbutts (@CryptoDickbutts) August 10, 2022
Will Cryptobirbs Keep Flying?
The initial mint of Cryptobirbs cost .0069ETH with a supply of 2000. In a time where NFTs are struggling, this Degen meme mint certainly flew and still is. At the time of publishing, the Cryptobirbs floor sits around .3ETH.
There is no roadmap for bibrs, no utility, just birbs which i have created for fun. I have prepared about 150 attributes, mostly iconic and classic ones, I also added a little from myself and also those traits that were not included in the cdb collection.
— vodnik (@0xVodnik) November 24, 2022
So why is it flying? Many media outlets might tell people that crypto is dead. The traders behind the scenes seem to tell a different story. The crypto community is going nowhere, fast. Jpeg flippers in particular love the thrill. NFTs are also a status symbol. CBD was a meme and brag worthy project and being a part of it was a flex. Cryptobirbs might be their next chance at it.
The Power of Expectation in NFTs
There is a big difference between an art-based project and one that promises utility and more, expectation. One recent example is the highly anticipated Valhalla project. They are claiming to be building the next twitch platform and are surrounded by hype, applications, big partnerships, and more. The community has high expectations which also leads to serious questions. Many wonder whether the team can pull off all that they promise. The initial mint after a strenuous application process for Valhalla was .5ETH. Now, close to a week later, the floor price is at about .58 ETH. If they pull off what they claim it will be a huge success. If they fall short, just another disappointment. In a market filled with disappointments, investors are seeking out projects that can deliver on what they promise, and in this case, the Cryptobirbs promise is nothing.
In a detailed post on mirror.xyz, The in-and-out burger on Radford explained that “Expectation resistance refers to a project’s ability to exist and proliferate without any utility.” His analysis on the succes of projects like CrypToadz provides great insight into the topic. From a community standpoint, a project that offers nothing but art, will at least meet expectations. Investors are not gambling on promises, what you see is what you get. So, whether you’re investing in Cryptobirbs, or the next huge bucket of empty promises, just keep your sense of humor.
Opinions expressed here are opinions of the Author. Influencive does not endorse or review brands mentioned; does not and cannot investigate relationships with brands, products, and people mentioned and is up to the Author to disclose. Accounts and articles may be professional fee-based.