For anyone following NFT God they know one project I’ve been following very closely is Cold Blooded Creepz. This is a DeFi gaming project from an established team that has started to garner a ton of hype in the NFT space. Their goal from the beginning has been to be bigger than Bored Ape Yacht club, and that vision can start to come to life on Saturday when they officially launch the game itself as well as it’s ERC-20 token $LOOMI. If this ecosystem they’re building starts to find success it could start a new wave of DeFi gaming projects while making its holders very very wealthy. Let’s do a dive into how this could become the biggest utility NFT in the entire space.
If you’ve read any of my past articles or my newsletter you know my big thesis in 2022 is the ecosystem play. NFT’s can no longer just be profile pictures. They can’t just be art projects. A select few (BAYC, Doodles) have been successful, but at this point most have or will burn out. Teams need to be building ecosystems around their projects, and that’s what the Creepz team has started doing. They’ve not only created beautiful pieces of artwork by famous artist Psychrome, but they’ve built lore and an entire DeFi Gaming system around their adorable yet disturbed lizard characters. Starting on Saturday you can start staking your Creepz and in return earn their brand new ERC-20 token $LOOMI. The more lizards you have, and the rarer they are (as determined by the color of your lizard), the more $LOOMI you’ll earn.
Now here’s where things get interesting. Over the course of the next month the team will be releasing new sets of NFT’s. These include 5g towers, spy birds, and even cartoon versions of Elon Musk. These new NFT’s can stack on your lizard army and add to your $LOOMI yield. The thing here is you can only purchase these new collections with the LOOMI token, therefore creating value and utility in the token. As long as this project starts to take off, which it already has (secondary markets have jumped from .3 eth to over 1 eth in recent days) it will create a flywheel effect on the entire ecosystem. The NFT’s will become more valuable, driving people to want to get more LOOMI. The LOOMI will go up in value, driving more demand for the NFT, and so on. Demand in one will drive demand in the other, boosting value quickly and bringing huge return to holders.
It’s a flywheel system we started to see with projects like Bored Ape Yacht Club. They airdropped mutant serums, which produced mutant apes. The mutant apes and serums became popular, driving up more demand for the regular bored apes. And as bored apes value went up, people wanted more mutants. This is an ecosystem play not many projects have attempted to create, and Creepz looks to be capitalizing on it early.
We haven’t even talked about the many other ways value can be created here. As Creepz start to get staked on Friday, they will get tied up into a smart contract that will take them off secondary markets. Basic principles of supply and demand say that as supply drops and demand stay the same, prices will rise. And as people realize the power of these principles they’ll only want to get in on the system, driving more demand. This whole project is a powder keg just getting ready to blow.
This ecosystem play is something I’ve been preaching for months and something I expect to see more of in 2022, it just appears Cold Blooded Creepz is getting in on this early. At the end of the day it will come down to execution. If the Creepz team is able to continue executing as they have they can create a flywheel of value for their holder unlike we’ve seen in any other blue chip project. Buckle in for Saturday, we might see a shift in the entire NFT landscape. For more research like you’ve read in this article make sure to subscribe to my email newsletter through the button in the top right. You’ll get my project reports as I’m doing research and know the moment I buy or sell any projects. I’ll never advertise or sell you anything. Oh and it’s completely free.