One more day passed by and the same thing happened again. It is almost a meta now where first a good project with great potential announces the supply and mint cost of the project at an unreasonably higher number to see if they have a chance of it getting sold out. 3 hours into the mint they realise their mistake and announce that both the supply and cost will be cut by more than 50%, followed by it getting sold out but not getting that due volume on secondary as it deserved.
We’ll see how long the meta will continue before project founders will realise that the market conditions aren’t the same as they were during April this year.
Speaking about founders, today there is a mint of a project the founders of which had done exceptionally well with their first launch with them taking their 2 sol mint in between a lot of aggressive undercuts to a 25+ $SOL floor back in the days when $SOL was sitting in 3 figs.
Yes, I am talking about Bohemia and they are going to launch one more collection under their umbrella named “FABULOSA”.
Fabulosa as they look to call is something that will bring innovation to the raffle meta that the NFT community appreciates so much. And when we say raffles we have to see the prizes, so the holders of Fabulosa NFTs have the chance to:
- Win life-changing bluechip NFTs
- Enhance their experience at the Bohemian Art Fair with $WOOP and other utilities
- Win USDC and SOL
- Attend the Solana Breakdown conference in Lisbon in style.
- Travel the world & much more.
The mint information about the project is as follows:
Cost: 1.99 $SOL (WL) | 2.59 $SOL (Public)
Time: 5 pm UTC (WL) | 7 pm UTC (Public)
Now let’s take a deep dive into the project’s fundamentals.
To take part in the raffle, the individual must hold a Fabulosa NFT. A holder will be able to cast a spell once every 5 days. To cast a magical spell, the Fabulosa needs to consume a bag of Magical Herbs to enter a meditative
state of mind in which it can unleash its magical powers. The cost for the bag of magical herbs ranges
from 150–500 $WOOP per bag, depending on the number of herbs in the bag, the more the number of herbs the more powerful the spell will become.
Now you can increase your chances in the raffle in 3 different ways:
- Firstly as I said if you have more numbers of herbs in the bag the spell will become more powerful.
- The rarity of the Fabulosa NFT will also affect the outcome, with the higher rarities having a better chance of winning
- You can use a love letter (the deciphered letters collection of Bohemia) the spell will be twice as powerful. The Love Letters are limited in numbers and there won’t be any new addition to these. The current FP of a Deciphered Love Letter is 0.24 $SOL.
Now once the spell is being cast the results of the spells are divided into 7 categories.
This magical treasury will be funded through Fabulosa’s mint funds and royalties.
Now since there are only 5000 Fabulosa NFTs and there might be a case where the floor shoots up and it might not be in the reach of a lot of members of the community. Here they have the option to rent your Fabulosa out to try their luck in the raffle.
To rent a Fabulosa, you have to pay the fees in $WOOP which is currently valued at $0.07.
If you have to describe Bohemia in one word, it has to be “ART”. And it's not fair that we talk about Bohemia without appreciating the artist behind the NFTs and the unique art the project has brought into the space.
Well with Fabulosa they have moved a step ahead and the art of this collection is really good in one word it's refreshing from everything we see in the space daily. However in my opinion it is not something which can be used as PFP on your socials which is not a good thing as people like to flex their NFTs.
Here we don't have to measure the engagement in terms of numbers as the project has an already standing community for months and a well-established name in the space.
If we look at the main collection of the project, it has suffered like any other project during the dump but is doing much better than some of its competitors that minted around the same time.
The Discord is clocking an average engagement of around 400 reactions per post related to Fabulosa and the engagement on Twitter is also revolving around the area with them clocking an average engagement of around 200 reactions per tweet related to Fabulosa.
To conclude, I would say that the team behind the project is solid and has kept on delivering on every promise they have made till date. The community around the project is also really strong and they have made a name for themselves on NFT Twitter.
Speaking of the supply and cost combination, I would say the same thing that asking for 10,000 $SOL in this market is not a wise decision but the fact that they have a well-established project and a team that has kept on delivering, they can easily overshadow it.
It is the same thing which happened with Infected Mob that launched a couple of days ago where they were to sell out a 7777 supply collection just because the team has proved their worth in the past.
If you are a whitelist and you have been actively following the past mints you know what to do. Just make sure to keep yourself updated with any announcement regarding a supply or a price cut because that will boost up the speed of the mint for sure.
I would rate the project 3.5/5.
As always DYOR.
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