Nakamigos, a pixel-based NFT project, unveiled its latest collection, “CLOAKS,” on September 13, provoking significant debate within the crypto community. Critics argue that this project exemplifies the proliferation of derivative NFTs, marked by extensive marketing efforts and a lack of originality.
The “CLOAKS” NFT drop will begin with early access minting on September 21, exclusively available to Nakamigos NFT holders. Public minting will commence on the same day at a cost of 0.05 ETH per mint.
Although shrouded in mystery, Nakamigos revealed that the collection would consist of 20,000 characters, including humanoids and wolves.
The humanoid characters encompass various archetypes such as Warriors, Knights, Archers, Sorceresses, and Wizards, each affiliated with one of seven unique clans. They can also transform into specialized forms like the Undead Reaper and Possessed, among others. Additionally, the collection introduces six “non-human characters” labeled as “Rares.”
An intriguing aspect of these NFTs is the inclusion of global gaming and commercial intellectual property (IP) rights. While not equivalent to a Creative Commons license, it offers holders certain competitive advantages by enabling extensive utilization of the “CLOAKS” characters.
Nakamigos, founded by HiFo Labs, has a five-year history of producing digital art. Its initial collection featured 24 x 24-pixel characters reminiscent of the iconic CryptoPunks, known as the “friends of Satoshi Nakamoto.”
Remarkably, within just four days of its launch, Nakamigos surpassed the lifetime trading volume of the Bored Ape Yacht Club (BAYC). Its trading volume surged from an impressive $13 million to nearly $39 million in a single month, signaling its rapid ascent in the NFT space. Although rumors circulated linking HiFo Labs to Larva Labs, the original creators of CryptoPunks, the Nakamigos team has denied these claims.
The “CLOAKS” collection launch has ignited a broader discussion on the state of the NFT market and the evolving dynamics of digital art within the blockchain space.