Renga NFT, a project developed by DirtyRobot, is captivating the NFT community with its collection of 10,000 unique characters. Each character comes with its own story, which is created by the community, making Renga a true embodiment of the art of storytelling. With a thriving community of 23,591 Discord users, the project follows a decentralized approach, allowing the community to shape and tell the stories of these characters in any way they desire.
What sets Renga apart is its emphasis on creative freedom. Creators have the opportunity to craft their own unique narratives around the collection, tapping into the project’s inspirational essence. Leading the creative charge for Renga is Daniel Isles, an accomplished artist and illustrator renowned for his ability to blend elements of the East and West, fusing metallic, organic, and futuristic themes with a touch of the past.
Renga consists of 11,900 Black Boxes and 11 distinct archetypes, drawing inspiration from Japanese collaborative poetry storytelling known as Renga. Each Renga NFT character is exceptional, as it is crafted from a pool of 900 possible traits. Within the Renga universe, there are eleven archetype characters, some of which are rarer than others. These archetypes include Motor Corp, Delinquent, Agent, Robot, Alchemist, Samurai, Golem, Ninja, 8-Bit, Cube, and 1/1.
To obtain a character from the Renga universe, one must open a Black Box using a burn-to-mint mechanism. The total number of Renga Black Boxes is 10,000, directly correlating to the number of NFT characters available. Opening a box incurs only the gas fee, with no additional charges. However, as more and more people acquire these boxes, the availability decreases, increasing the value of the remaining boxes.
The success of Renga NFT lies in its community’s ability to craft unique stories and narratives around the collection. It serves as an inspiration for collectors to create their own tales within this community-driven project featuring 10,000 art pieces.
Analyzing the Market Performance of Renga NFT
At present, the floor price of a Renga NFT stands at 0.394 ETH, with a total trading volume of 53.5K and a market cap of 3.53K. The project boasts 3,115 holders, indicating a growing community of enthusiasts.
According to the owner distribution chart, there are 1,967 owners who possess a single item, 725 owners with 2-3 items, 319 owners with 4-10 items, 73 owners with 11-25 items, 20 owners with 26-50 items, and 11 owners with more than 51 items.
The lowest recorded sale for a Renga NFT occurred at 0.3945 ETH for RENGA #9384, while the highest price reached an impressive 45 ETH for RENGA #45. Recently listed NFTs include RENGA #1966 priced at 0.4214 ETH, RENGA #9384 at 0.3945 ETH, and RENGA #1234 at 0.422 ETH.
Analyzing holder trends, we observe that the number of holders rose from 1,792 on September 3, 2022, to 3,115 on June 30, 2023. Moreover, the presence of whales (holders with significant NFT holdings) has increased to 19 during this period. Renga has seen 23 transactions, resulting in a trading volume of 10.45 ETH within the last 24 hours. The floor price has experienced a change of -8.13% within the same time frame.
When considering any NFT project, personal preference and investment strategies play a crucial role. The Renga NFT project stands out by offering meticulously hand-drawn, distinctive characters, encompassing art, imagination, and the captivating style of Japanese manga and anime. The project’s focus on allowing the community to create and shape the stories of these characters lends it immense potential and sets it apart from other NFT endeavors.