What is Genkai? Genkai is the latest collection launched by CyberKongz consisting of 20,000 NFTs with images of kong kongs in many different colors. However, since the collapse of Azuki, perhaps the newly released collections have encountered difficulties and have not received much acceptance from the community. In this article, let’s review some information about CyberKongz’s newly launched collection called Genkai and evaluate whether this is the right time to launch Genkai.
What is Genkai?
Introducing CyberKongz
CyberKongz is a collection of 1,000 NFTs with 34 x 34 pixel images of unique, rare, and randomly generated apes. Of the initial 1,000 NFTs only 989 NFTs were sold on OpenSea, CyberKongz #810 was kept as the project mascot and 10 CyberKongz Legendaries were sold 2 weeks later.
After launching on Ethereum in March 2021, despite having no pre-release advertising campaign, CyberKongz attracted a lot of attention from NFT enthusiasts and CyberKongz avatars quickly became popular. quickly spread on social networks.
Over time, CyberKongz has evolved into a community-centric project where NFT developers and experts in the community contribute their skills to develop community ideas.
Later, the project developed 2 new NFT collections including: 4,000 Baby CyberKongz and 15,000 CyberKongz VX. In addition to effectively expanding the CyberKongz community, the CyberKongz VX 3D collection allows owners to use their NFTs in different metaverses.
Overview of Genkai
Genkai is a newly launched collection from CyberKongz including 20,000 NFTs with familiar images of King Kong in many different colors. The Genkai collection is inspired by the anime journey through Niakea.
What is Genkai?
Genkai is also considered CyberKongz’s first IP extension to build a diverse ecosystem with richer stories revolving around the world of Niakea.
Genkai Allocation Process
Genkai Allocation Process
Sales of Genkai collection NFTs begin on July 27, 2023. The process takes place in 3 stages including:
- Phase 1 – LimitList (4 – 7 pm UTC): All individuals on the LimitList have the opportunity to mint 2 Genkai NFTs at a minting price of 0.25 ETH per NFT. The maximum total number of NFTs sold during this period is 9000 NFTs.
- Phase 2 – WailList (7 – 8 pm UTC): All individuals on the WailList will have the opportunity to mint 1 Genkai NFT with the minting price per NFT being 0.25 ETH. Any remaining supply from the 9000 NFTs in the LimitList phase will be held during this phase.
- Phase 3 – Public (8 pm UTC): All remaining supplies in the Genkai collection will be sold during this period. Each wallet address can mint up to 3 NFTs with the minting price per NFT being 0.25 ETH.
Additionally, 7000 NFTs in the Genkai collection will be airdropped to CyberKongz holders and will be paid out 180 days after the sale (July 27, 2023). If owners want to receive Genkai before the unlock time, they must pay an unlock fee that gradually decreases over time starting from 0.25 ETH (Mint Price).
Is This The Right Time To Launch Genkai?
Let’s take a look at some notable recently launched collections:
First is Ether – a collection that was quite Hype before its release due to the appearance of viii – who has participated in the development of the famous RTFKT x Nike Dunk Genesis project and has collaborations with famous companies such as Sony, Nike and Epic Games, as well as partnerships with famous company figures they.
However, since its launch, the price of Ether has witnessed a heavy decline and in my opinion there are 3 main reasons for this including: Weak community, unreasonable NFT allocation and Timing at launch time. the market is not good. I also have a detailed article behind the fall of Ether, you can read more here.
Next is Moonbirds Mythics, The announcement of the new collection, Mythics, has partly created a driving force in increasing prices for the main collection, Moonbirds, in the following days. However, as the first Moonbirds Mythics gradually appear, we are witnessing a large drop from 1.5 ETH to the current price of only around 0.3 ETH. This is understandable because 1.5 ETH with an NFT at this time is too expensive, so there was a large selling force immediately after launch.
The third collection I want to mention is Garbage Friends – a collection that was also quite hyped before its launch because it had a large community and had cooperative relationships with many projects in the market. However, Garbage Friends also had to adjust the mint price from 0.1 ETH to 0.065 ETH before the sale. This raises fears of a collapse similar to what Ether experienced. But perhaps the big difference between Ether and Garbage Friends is the community as Garbage Friends’ development team also regularly builds and connects with its community on social networking platforms. This has been shown that after the price dropped sharply in the initial period, there was a strong recovery.
For Genkai: Being inherited by CyberKongz’s large and diverse community helps Genkai receive a lot of attention before its launch. However, this is a very sensitive time for the market, so if just one mistake appears during the launch process such as: Regarding image quality, errors during the launch process,… it will have a huge impact. to the collection.
One point to note in this Genkai sale is that although the total supply is as high as 20,000 NFTs, only 9,000 NFTs are being sold at this time (Because there are 7,000 NFT airdrops and 4,000 NFTs with no plans to deploy), this I find it quite a reasonable number, but is the price of 0.25 ETH for 1 NFT too expensive compared to the market at the moment? This is the information I want to provide if everyone wants to participate in the mint on July 27, 2023.
summary
Genkai is perhaps the next notable collection to hit the market and the first to expand on the IP for CyberKongz. However, the current time is a challenge for Genkai, but if successful, it will probably be a boost and bring more users to CyberKongz’s ecosystem.
