An article interpreting the recent surge in Renga: Can it become the next blue-chip NFT?
Doodles’ recently announced $54 million financing has revived the NFT market again. In addition to a group of blue-chip NFTs, PANews found that the Renga series of NFTs created by artist DirtyRobot has continued to trade hotly recently, and the transaction volume once topped the list on September 18.
According to NFTGO data, in addition to the Renga series, the Renga Black Box and The Art of Seasons series related to DirtyRobot also ranked among the top in terms of NFT transaction volume on September 18. The cumulative transaction volume of the three reached 1589ETH, accounting for about the entire NFT transaction volume of the day 18%.
According to the official introduction, the Renga series of NFTs was created by DirtyRobot. Each NFT has its own identity. The maximum total amount is 10,000, and the current total amount is 7,237. The total amount depends on the "burning" of the Renga Black Box. The current floor price is 1.23ETH .
Renga Black Box is similar to Renga’s blind box. Hold Renga Black Box and “burn” on the official website to get Renga. Because Renga Black Box opening blind box may open rare Renga, the current floor price of Renga Black Box is 2.35ETH.
The Art of Seasons series is the first NFT work created by DirtyRobot. Early holders of The Art of Seasons can receive an airdrop from Renga Black Box, which is equivalent to Renga's whitelist. The current floor price is 0.21ETH.
It can be seen that the three NFT works are related to each other, and they are all empowering Renga at present.
From The Art of Seasons to Renga
To say that the development of Renga starts with DirtyRobot’s first NFT work, The Art of Seasons.
In March 2022, during the correction period of the NFT market, DirtyRobot created The Art of Seasons, which belongs to the category of art. It will present different dynamic pictures according to spring, summer, autumn and winter; at that time, Banner-like wide format had already appeared, and The Art of Seasons brought a fresh blood to the PFP market at that time with its unique print style and subtle details. KOLs display it as a Twitter background image.
After a market correction in February and March, the NFT market in April and May has returned to its previous bustle. With the fire of the same art NFT project FangLijun, the Chinese community has high hopes for The Art of Seasons, and they all think that this is the next The blue-chip Pass card (free white list), the market volume of The Art of Seasons has been continuously amplified, from the Mint price of 0.08 per unit price to skyrocket. According to NFTGO data, the average price in April was 1.2ETH. On May 12, the highest price reached 15ETH, an increase of 180 times.
In late April, it was rumored in the community that users who hold The Art of Seasons NFT can obtain Renga’s whitelist for free, but the specific information has not been officially announced.
In late June, holders of The Art of Seasons suddenly received an airdrop of Renga Black Box, and the community spread the news that Renga Black Box was Renga. For a while, the trading volume of Renga Black Box soared, and the floor price soared, with an average price of 1.3 ETH.
Some people are happy while others are worried. The price of The Art of Seasons floor has been halved from 1.2ETH to 0.4ETH.
The community's attention has since shifted from The Art of Seasons to Renga Black Box.
On August 13, Renga officially announced that in addition to the existing Renga Black Box, it will add 2,500 Renga Black Box lottery public sales through Premint. After that, the project party finalized the public price of Box at a price lower than the market price of 0.5ETH: 0.4ETH
After all the Renga Black Boxes were sold out, the Renga with a total of 10,000 copies slowly surfaced.
From the first NFT project The Art of Seasons in March, to the airdrop of Renga Black Box, to the public sale of Renga Black Box, and finally to obtain Renga by "burning" the box, it took half a year, and many holders regretted it during the waiting period Leave, but those who stay have become firm believers in Renga.
Born in England, settled in Japan, draws with pencil
The reason why the community can accompany Renga along the way is inseparable from DirtyRobot's staunch supporters.
DirtyRobot, whose real name is Daniel Isles, is an Englishman who lives in Hokkaido, Japan, and is an independent illustrator and cartoonist. The preferred tools for his creation are pencil and ink, which make his works have clear and elegant lines, as well as coloring like ink smudges; the style is highly recognizable.
Amazon once commented: "DirtyRobot is a professional artist dedicated to artistic practice, observation, theme and expression to create his own entire world. His unique illustration style has been used in many industries such as fashion, music, author and technology .Have worked with Apple, DC Comics, SEGA, Mighty Jaxx, Kidrobot, Timberland and Owsla."
DirtyRobot has 160,000 followers on Instagram. From the photos he posted on Ins in his early years, it can be seen that DirtyRobot is a person who loves life. Under his lens, children walking in the snow, izakayas in the early morning, empty alleys, The lively drinking party among friends and the strange buildings on the side of the road were captured one by one. The soothing way of life in Hokkaido has gradually affected his style of doing things: not rushing, and moving forward slowly.
Born in the UK and living in Japan, his works have a feeling of compatibility between European and American culture and Japanese culture. In some of his works, we can see some Japanese Ukiyo-e artistic style.
In terms of Renga's character modeling, DirtyRobot created translucent robots, sci-fi mechanical arms, ninjas holding daggers, and armor of Japanese samurai; combining the characteristics of European, American and Japanese comics, enriching the character modeling, and portraying the characters image.
Judging from the state of the character, he presents a variety of human emotions: plain Buddhist, ecstatic, dark and evil, depressed, rejuvenated, etc.; some community members said that Renga's overall style is dark, unlike the one given by Doodles. People present a happy atmosphere. From this point of view, DirtyRobot may want to present the diversity of people, which may be slightly disadvantaged in terms of group acceptance.
What else can you earn besides royalty income?
DirtyRobot's rich creative experience has brought Renga its current achievements. However, the development time of NFT is only a few years, and Renga has only been in operation for half a year. At present, there is no other business model except casting fees and royalty income. This is also a common problem faced by current NFT projects. The profit model is generally relatively simple, and only some top blue chips are exploring business models such as grafting games, secondary creation, and authorized brand cooperation with resources.
At present, Renga’s minting income is 1000ETH, and the transaction royalty is 5%. Up to now, according to the statistics of FlipsFinance, the accumulated royalty income of Renga, Renga Black Box, and The Art of Seasons has reached 2766ETH, which allows the team to live very well.
And Renga may have another way out in terms of business model.
DirtyRobot himself is an illustrator and cartoonist in Web2, and has realized closed-loop business logic. His first full-length comic work "Mister Miracle: The Great Escape" was co-authored with American contemporary writer Varian Johnson. This comic Ranked #111 in Amazon's Bestsellers section "Teen Comics and Novels," New York Times bestselling author Ngozi Ukazu commented on this manga: "Fresh, dynamic, and fluid"
DirtyRobot is still working on the graphic novel "Joyama", which is a sci-fi serial comic with a cyberpunk background as the theme, and has already created the second volume. According to Amazon's official website, the second part of "Joyama" has already started pre-orders and will be shipped next year.
His works are published, printed, and transported through Inprnt Store; a marketing flow integrating creation, publishing, and transport has been formed. Behind the story of Renga is a sci-fi-themed cyberspace, which complements the spirit of the Metaverse and the encrypted world. Combined with serial comics, whether Renga's NFT can quickly be grafted with Web2's existing channels and open up the relationship between NFT holders and serial comics deserves our continued attention.
To broaden the scalability of business, let’s imagine that NFT holders participate in the story creation of comic works, Holder creates branch stories to participate in the auction, and other Holders vote to decide which story line to use. Realization of copyright to empowerment.
summary
summary
After Renga's Box was cast, there was a new operation in operation. According to the official announcement, Renga held offline meetups in Santo Domingo on the 14th and Australia on the 16th; the meeting will continue in New York on the 24th. Does the frequent offline activities indicate new actions in the future? After all, the financing of Doodles has given the community unlimited reverie. However, from an investment point of view, it is more important to consider the risks:
One is the recent skyrocketing of Renga, the early buyers are very profitable, and there is a risk of shipment; the other is that the former team members blame each other and leave, which makes the team structure lacking, and the former team member DCA spreading FUD sentiment has caused a lot of trouble to the community impact; PANews reminds investors to do corresponding research to avoid unnecessary losses. Whether Renga can become a blue chip remains to be seen, but high-quality works, a long-term community, a sustainable and stable team, and innovative operating strategies are the indispensable foundations of blue chips.
The development of NFT will not be achieved overnight, and the construction of the Metaverse will not be achieved overnight. Even if there is a small crack, it is a place where light comes in and encourages each other.
