A Kid Called Beast Breakdown

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Here is the breakdown of today's newsletter:

👀 AKCB has the whole space shook🚩 NFT red flags from @maddiek_eth

• The Cryptohouse in LA is apparently losing its appeal to potential buyers. The home in question has multiple rooms with popular NFTs adorning the walls. (CT)

• Big Sale: CryptoPunk 6994 sold for 200 ETH ($283,656) the other day.

• Talented artist Alimo is already set to be part of the Community Artist Showcase at this year's NFTNYC. (@alimofun)

• Doodles have brought on a new Head of Business Development. See @austin_hurwitz's full statement on his new position here.

• At the time of writing Ethereum sits at $1565 which is a 5 day increase of 10.5% and a month long increase of 32%!

• Highly anticipated drone racing NFT game Project Drone just dropped an intense new trailer for their game set to launch sometime this year. (YT)

• A new identity solution for called KYCT may be the next leap forward in crypto security. (YT)

👀👀

a KID called BEAST 👀

This past weekend, a new project came to fruition: A Kid Called Beast. According to the team, they’ve been building for the past 14 months, even in one of the bearish cycles to date. In the 14 months, the project has transcended into a faction-based ecosystem, where you pick your own Beasthood. These 20 Hoods coincide with individual interest areas, from Wagmi Way focusing on degen/alpha calls for everything crypto to Michelin Markets which focuses on restaurant recommendations and recipes (actual utility is still yet to be released). You get to pick your Hood while you mint, which is something that we’ve seldom seen before in the space.

While this project had been anticipated by the entire market for quite some time, in true NFT fashion, there were some complications with the mint. Beast Listed people were unable to mint when the time officially came. This was because the AKCB team used a wallet analytics company to ensure that the mint would be fair and to limit the number of botters and multi-wallet submissions, which caused many members to lose their spots; even those that shouldn’t have. But with Rafsby’s leadership, things seem to be staying pretty steady, despite the initial issues. The floor price has been climbing since its release, and people are still optimistic about the future of this project.

• Founders… Rafsby and Caleb Smiler have their own projects aside from AKCB, Loudchain and AnjiSwap, respectively. There are other builders on the team that have been developing at notable Web3 ventures. The team is star-studded, to say the least.

• Overallocation… The team was advised to over-allocate their whitelist because of the bear market. At a later date, they used an AI service to remove 15,000 wallets from the collected pool. The AI wrongly removed individuals that should have retained the whitelist spot. This resulted in issues at the time of the mint, thus causing the team to pause the mint.

• 3,675… The mint for the remaining Beasts will prioritize active users. People that got special whitelist roles in Discord and then never went back in to interact with the rest of the community will most probably not get the opportunity to mint. This project is for real holders and supporters, not pumpers and “hype beasts”.

💡 The DropWhile fumbled mints happen from time to time, we must recognize the reasons that these things happen. If project teams are flushing out malicious actors from their minting process, they’re doing their REAL holders a huge favor. Malicious actors, such as botters, only care about money. And the more they take, the less there is for real holders. But things do go wrong sometimes, so we must also recognize the plan of action that the team takes, after the fact. The AKCB team had a Twitter Space yesterday where they addressed everyone’s concerns, in which FrankDeGods even said “Wagmi Way for the People” causing that Hood to rise to a 1.2 ETH floor. There is clearly mass interest in this project, not just from holders but from onlookers as well. Nevertheless, with there still are Beasts left to mint, we must wait to see AKCB’s success matriculate into its true form. WAGMI, Beasts…. especially Silicon Alley 👀

🚨 Important Links: Twitter, Website, Discord, OpenSea

Lesson Of The Week 📚

A brief breakdown:🚩 undoxxed founders🚩 negative community antics around project price🚩 fake hype (botted giveaways, discord invites, etc.) Watch the whole video below...

Sponsored Content: There is no sponsored content in this newsletter. A kid called beast was not a sponsored breakdown.

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.

Follow the team:

Gannon Breslin, CryptoVonDoom, Naveed Lalani, Alex Reed, Naman Patel, Big Tuna

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