NFT Memo - Metas Worth Paying Attention To

General Market Overview

If we go by weekly volume, NFT Markets continue to find new lows. This could be attributed to multiple reasons, be it general market sentiment, apathy towards NFTs, or lack of incentives, but the bottom line is that only a few collections manage to maintain relevance or form new narratives around them these days. For example, recently CryptoKitties launched an Egg NFT open-edition, which minted at 0.008 ETH and peaked at 0.4 ETH – this after it was confirmed that it was a collection by them and that there would be a telegram P2E game associated to it. But beyond this, there have been two recurrent metas that have stuck during the last couple of months: one is NFT collections developing synergies with memecoins, and the other is well-established collections announcing L3s to expand their ecosystems further.

Memecoin NFTs

As memecoins took over this cycle they took most of the attention away from NFTs – why trade altcoins with pictures when you could just trade the altcoins? Not only that, but memecoins also tend to be more liquid and volatile than most NFTs, easier to deploy, and they also rely heavily on their communities (or bag holders) through memes and online interactions, just like most PFP NFTs. However, it has been difficult for most memecoin communities to consolidate their online presence as NFTs did. Of course, one can add pit vipers or a beanie to their profile picture to represent allegiance to a bag, but this isn’t the same as having hundreds of users wearing a similar PFP, which is why many memecoin collections have resorted to NFTs to strengthen their online presence and add another asset to speculate on.

This comes in many ways. Sometimes well-established NFT collections launch a memecoin and members of said community end up appropriating it, and then you also get memecoins that launch their NFTs – these cases are different to Bored Apes ($APE), Mfers ($MFER) or Doodles ($POOP) where the founders airdropped tokens to holders which then resulted in a slow bleed to zero. The cases I’ll cover involve memecoins that synergize with an NFT collection and are correlated price-wise, whose launch tends to be fairer or at least not airdropped to NFT holders only.

Ethereum Memecoin NFTs

Remilio & MOG

Although this one isn’t technically a Memecoin NFT, it serves as a good example of a synergy between a memecoin and NFT. As it was covered on my previous report about Miladys, Remilio is Milady’s younger brother that embraces some schizo, new-rich, reactionary aesthetic that suits well those dwelling in the e-trenches, so it shouldn’t be a surprise that this collection was embraced by one of the most iconic memecoins of this cycle. Even from the start, Remilio had a telegram channel, similar to how most memecoins operate nowadays – when most NFT projects had their discord back then. This collection wasn’t only adopted by MOG holders and its team but also by notable memecoin traders such as Degenharambe (one of PEPE’s early whales). Interestingly, the one trait they cherished most was the Niqab Remilio, which is also one of the rarest traits in the collection – even leading to a derivative collection on Solana called Niqady Maker.

Sproto Gremlins & BITCOIN

This collection is hard to de