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Attack of the Cute NFTs šŸ˜Š

Cute NFTs areĀ soĀ hot right now šŸ”„

The new NFT meta? Cuteness!

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by William M. Peaster

Since October 2022, a potent buying wave has swept across many projects that PFP NFT aficionados consider to beĀ cute.Ā 

Cuteness is subjective, to be sure. Yet the projects in question do share a few fundamental qualities, like generally adorable artistry, bright color schemes, lighthearted names, and cheery communities.Ā 

Cute NFT floor price gains over the past 3 months viaĀ app.parsec.financeĀ ā€“ h/t toĀ TervoĀ for the Parsec comparison idea

So what exactly should you be watching right now?

If you search around the phrase ā€œCute NFTā€ on social media, e.g. Twitter, you can see how references to a cuteness meta really began to surge in Dec. 2022, a period during which the Pudgy Penguins collection notably experienced a historic trading frenzy, and its floor price reached over 7Īž for the first time ever.Ā 

However, while thereā€™s no question the recent success of Pudgy Penguins has driven gusts of attention to other similarly cute projects, this success is just part of the ongoing boom.Ā 

The truth is there is noĀ singularĀ reason behind the recent uptrend of the cuteness meta, since all the collections involved have different and unique things going for themselves right now. In other words, multiple cute projectsā€™ respective strides have coincided with each other lately, leading to this PFP niche gaining momentum.Ā 

As forĀ whichĀ projects should be actually considered part of and tracked within this niche? Thatā€™s where things get interesting subjectively, since thereā€™s no definitive answer. No authoritative ā€œCute NFT Indexā€ exists right now, as weā€™ve only just come across the need for one. That said, though, what could such an index look like?

For example, Nansenā€™s got indexes like theĀ ART20Ā and theĀ GAME50, and recently Iā€™ve seen a lot of analysts sharing charts of the cute NFT projects theyā€™re personally tracking. In combining these two inspirations, I think a compelling ā€œCUTE15ā€ of relevant collections worth tracking, at least as things stand, should feature the following projects:

  • Cool PetsĀ ā€”Ā OpenSeaĀ | Floor: 0.16Īž | 90D floor action: šŸ“‰ -27%
  • Cool CatsĀ ā€”Ā OpenSeaĀ | Floor: 2.95Īž | 90D floor action: šŸ“‰ -23%
  • DoodlesĀ ā€”Ā OpenSeaĀ | Floor: 7.42Īž | 90D floor action: šŸ“‰ -19%
  • DooplicatorsĀ ā€”Ā OpenSeaĀ | Floor: 1.3Īž | 90D floor action: šŸ“ˆ +3%
  • Coolmanā€™s UniverseĀ ā€”Ā OpenSeaĀ | Floor: 0.123Īž | 90D floor action: šŸ“ˆ +4%
Examples from the CUTE15 ā€“ viaĀ JPG
  • Tubby CatsĀ ā€”Ā OpenSeaĀ | Floor: 0.15Īž | 90D floor action: šŸ“ˆ +28%
  • BEANZĀ ā€”Ā OpenSeaĀ | Floor: 1.98Īž | 90D floor action: šŸ“ˆ +69%
  • FiniliarĀ ā€”Ā OpenSeaĀ | Floor: 0.35Īž | 90D floor action: šŸ“ˆ +107%
  • Sappy SealsĀ ā€”Ā OpenSeaĀ | Floor: 1.65Īž | 90D floor action: šŸ“ˆ +119%
  • Pudgy PenguinsĀ ā€”Ā OpenSeaĀ | Floor: 7.1Īž | 90D floor action: šŸ“ˆ +138%
  • Froyo KittensĀ ā€”Ā OpenSeaĀ | Floor: 0.09Īž | 90D floor action: šŸ“ˆ +157%
Examples from the CUTE15 ā€“ viaĀ JPG
  • Froggy FriendsĀ ā€”Ā OpenSeaĀ | Floor: 0.33Īž | 90D floor action: šŸ“ˆ +263%
  • Chubbiverse FrensĀ ā€”Ā OpenSeaĀ | Floor: 0.3Īž | 90D floor action: šŸ“ˆ +264%
  • Kanpai PandasĀ ā€”Ā OpenSeaĀ | Floor: 1.77Īž | 90D floor action: šŸ“ˆ +285%
  • Lil PudgysĀ ā€”Ā OpenSeaĀ | Floor: 0.79Īž | 90D floor action: šŸ“ˆ +313%
Examples from the CUTE15 ā€“ viaĀ JPG

Again, these picks are just my subjective takes on what the top 15 projects are in the cuteness metaĀ right now. Whether youā€™re looking at market cap or trading volume, these collections are all currently in the top 300 NFT projects, so tracking them can give you broad insight into how this cute category of PFPs is faring.Ā 

Zooming in some, the biggest cute-cap gainers over the past three months have beenĀ Lil Pudgys, Kainpai Pandas, Chubbiverse Friends, and Froggy Friends, all of which have seen their floor prices climb by more than 260% in that span.

Lil Pudgys, the companion collection to Pudgy Penguins, naturally has more runway to grow than its parent project and has been exploding with interest upon the Penguin ecosystemā€™s recent ā€œwhat bear market?ā€ advances.Ā 

For its part, Kanpai Pandas, the most successful omnichain NFT project to date, has rallied a passionate community from across 8 different blockchain deployments since Spring 2022 thanks to its capable and charismatic team. With the recent uptrend in cuteness, then, itā€™s no surprise this collectionā€™s gotten wind in its sails.Ā 

As for other big 90D climbers, Chubbiverse Friends (+264%) and Froggy Friends (+263%) have also seen their floors ramp up, yet not too far behind these collections have been other cuteness heavy hitters like Froyo Kittens (+157%), Pudgy Penguins (+138%), Sappy Seals (+119%), and Finiliar (+107%).Ā 

Of course, ā€œCute NFTsā€ and the idea of a CUTE15 index might sound silly at first, but again, make no mistake that the action here is indeed very real right now. For example, these are the 90D volume stats for the proposed CUTE15 collections:

These stats are up and to the right for these projects right now. So as chatter continues to pick up about crypto potentially turning bullish again, just keep in mind that to a certain extent, Cute NFTs are currently near the tip of the spear, so to speak!

https://twitter.com/rektmando/status/1610970999557595137

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