It would appear the NFT space is evolving in a direction where projects have use cases rather than collectible value. A welcome development, as there needs to be some way to use NFTs for bigger and better things. Crazy Crows Chess Club, or CCCC, acknowledges the need for utility and introduces a rather curious concept.
What Is Crazy Crows Chess Club?
As is the norm among NFT projects, Crazy Crows Chess Club is a limited-edition set of non-fungible tokens. A total of 8,181 crows were available for minting, although that option is no longer available. That number is neither high nor low, although some people will undoubtedly feel it is too high. The team behind CCCC acknowledges that it will introduce a mechanic to cut the supply in half potentially.
Although the CCCC league has a background story, it may not necessarily be what is most memorable about this venture. The dedication to high-quality art, combined with utility and a solid roadmap, is what most people look for. The art of Crazy Crows Chess Club is undoubtedly intriguing, although that alone may not incentivize people to mint or buy these NFTs.
One of the interesting aspects of this project is how holding one CCCC NFTs will give users access to a free account powered by chess.com. Even though the platform had no crypto gifting option before this project launched, that situation has changed since the launch of Crazy Crows Chess Club. The team aims to partner with other communities to bring more exclusive content to Crow holders.
What Is The Utility?
With a minting price of 0.03 ETH, Crazy Crows Chess Club has proven to be an affordable NFT project. However, minting one may not be sufficient. Users who peer through the roadmap will notice there will be an option to reed crows shortly. In addition, two Crazy Crows can be merged to create one newer Crow with more special traits. A great way to reduce the overall supply and create an incentive for long-term holding.
The Crazy Crows Chess Club team also intends to share future $CROWS sales profits with the community. No details are available as of yet, although it is a matter of time until more information becomes available. Various projects explore passive revenue streams for NFT holders these days. A worthwhile option, although it remains unclear if any of them can generate any real revenue for holders.
Moreover, CCCC holders are eligible for a free chess.com account where they can play tournaments and dailies.
Should You Flip Crazy Crows Chess Club?
As the minting of these NFTs is no longer possible, one can only acquire the CCCC non-fungible tokens from the secondary market. In this case, that market is OpenSea, the top NFT marketplace in the world. As all crows were minted and distributed among 1.9k owners, finding one for sale is not too difficult. Moreover, as of August 30, 2021, the current floor is below 0.01 ETH per CCCC, which is well below the mint price of 0.03 ETH. It may prove worthwhile to pick up a few at such a low price and see if they can be flipped for a profit further down the line.
However, the roadmap still includes the option of breeding crows. If all CCCC NFTs partake in this process, the feature will cut its supply by 50%. Such a high level of participation seems unlikely, though, but it is an option to consider. Flipping isn’t necessarily the best option, particularly with two crows combining into a new one with more special traits. A lot will hinge on how this process works and how high Ethereum’s gas fees will be when the Mad House opens its doors.
For now, the profit-sharing distribution remains uncertain, although the team still has it on the roadmap. Unfortunately, the collection currently has low trading volume on OpenSea, which may negate this aspect temporarily. If the volume picks up, things may get a bit more interesting on that front.
Still mintable: NO
The author of this article currently holds multiple NFTs of this collection. This article does not constitute investment advice. Always do your own research and invest at your own risk.
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