RENGA - NFT Collection Analysis
The Only Utility is Floor Price Go Up
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Key Takeaways:
- RENGA is a handcrafted collection of 10,000 characters developed by artist DirtyRobot comprising 901 traits and 29 1/1.
- RENGA’s floor price today is 0.95ETH, with a 24-hour sales volume of 275.24 ETH, and a total volume of 6.4k ETH.
- Renga’s collection consists of Black Boxes that were airdropped to holders of The Art of Seasons NFTs.
- It is speculated that RENGA may be a villain role in the 10KTF metaverse.
- Renga’s collection does not have too many utilities, all based on Dirty Robot’s art and rising floor prices.
- The team does not host any AMA or communicate directly with the community
In such a depressing NFTs market, a collection has sprung up. On September 17, the floor price of RENGA once reached 2.25 ETH. Who is it?
That’s RENGA.
Why is it so hot? How has its floor price changed? What does it have to do with 10KTF?
Let’s get into it.
What is RENGA?
Twitter (70.6K Followers): https://twitter.com/RENGA_inc
Official Website: https://renga.app/
Discord (27K Members): https://t.co/BKnFL0z6hP
OpenSea (6.1K ETH Volume): https://opensea.io/collection/renga
RENGA is a handcrafted collection of 10,000 characters developed by artist DirtyRobot, also known as Daniel Isles, an illustrator based in Japan who began his journey in making comics at the young age of 9 years old. Working primarily with ink and paper, DirtyRobot is taking his 20+ years of experience and putting it into Renga as his lifework.
Each with its own identity to be discovered within the wider stories of RENGA. In its purest form, RENGA is an art and the art of storytelling.
RENGA means Sequential art or pictures (type of printed, graphic storytelling. differentiated from the manga by its liberal use of page space, often only one panel per page, and sparing use of dialogue).
This project aimed to create an NFT project with a Japanese comic style, comic series, and storyline. In the future, they hope every holder can be a part of the story.
Their official websites and Twitter are all in the style of comic series.
Is this the reason why the team will not carry out any AMAs or communicate directly with the community? However, if the project party does not communicate with holders, it will cause the mood of fud.
Although they didn’t hosted a space themselves, there are still many big influencers who hosted a space to FOMO the project.
What is The RENGA Black Box？
Currently, Renga’s collection consists of Black Boxes that were airdropped at the beginning of summer (June 22, 2022) to holders of The Art of Seasons NFTs that were originally minted back in March for a price of 0.08 ETH.
These collections are all works of artist DirtyRobot + RENGA Factory.
The black boxes are blank canvases, with the ability to reveal any RENGA character. Every black box holder will be given the opportunity to open their box (burn) and reveal a character (mint) from the RENGA universe via a burn-to-mint mechanism.
The total supply of RENGA Black Boxes will be 10,000 boxes. As boxes are burned, their supply will decrease, while the supply of RENGA NFTs will increase. The maximum possible supply of RENGA Characters is 10,000, but this number will be relative to the number of RENGA Black Boxes that are opened (burned).
These boxes will ultimately be the portal for your RENGA character to enter this universe. As we progress, your character will be your key to everything RENGA.
What is The Art of Seasons?
The Art of Seasons is a complete collection of dynamic illustrations featuring Spring, Summer, Autumn, and Winter. The Art of Seasons (TAOS) is the first NFTs collection by RENGA artist and founder DirtyRobot. All TAOS holders have airdropped a RENGA Black Box. People that held TAOS didn't expect anything, and got airdropped the black boxes for free.
This unexpected airdrop makes everyone hope for more airdrops in the future.
The Art of Seasons collection serves as an access pass to DirtyRobot art. This may include, but is not limited to, access to purchase exclusive prints or other forms of traditional artworks from DirtyRobot. The Art of Season’s collection is available for purchase on secondary markets.
What is Renga’s Connection With 10KTF?
From the lower right corner of their official website of RENGA: Powered by WENEW, we can conclude that WeNew Labs also cooperates with them.
We have introduced it in the article What is 10KTF NFT? Everything You Need to Know About Wagmi-san.
WeNew Labs, the company behind 10KTF, is an NFT company co-founded by big names in the space (Figge, Beeple, Guy Osheary).
Therefore, we have every reason to believe that any project related to 10KTF will be popular. Of course, 10KTF will not easily invest in others. They must still see the bright spot of RENGA.
At the same time, the characters in RENGA also appeared in Wagmi-san’s Twitter trailer.
This makes people speculate that RENGA may be a villain role in the 10KTF metaverse.
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