Akuma Origins - Steady Growth and a Strong Utility

In the April 2022 edition of DappRadar's new Dapps report, we look at collections of popular and interesting NFTs, and this time we feature Akuma Origins. New Dapps report as an executive overview and analysis of financial metrics for NFT collections.

This new Dapps report is part of a series of executive reports that provide readers with a high-level view of promising collections of randomly generated NFTs. The report focuses on financial metrics, including sales activity and price analysis, as well as distribution metrics such as Unique Holder Ratio and Whale Concentration Index. It also delves into the behavioral patterns and social and technological profiles of giant whales.

In these reports we discuss exciting new series coming to the market, and this week we review Akuma Origins. This Japanese pop culture-inspired series has been greatly appreciated since its release.

Akuma Origins is a collection of 5,555 NFTs made by a group of Belgian and French artists. They hope to bridge the gap between the digital and physical worlds, while providing holders with a robust utility package of art, music, and seasonal airdrops.

Please do not consider this document as financial advice.

Date of data update: April 14, 2022

Table of contents

• key points
• financial overview
• utility
• social awareness and participation
• Technical overview

key points

• Akuma Origins is the 10th most traded series of the last 7 days with over $20 million in total sales.
• Reserve price for Akuma Originals collection appreciates over 800% since minting on March 31

Akuma Origins – 809% increase in base price

Blockchain: Ethereum

Release date: March 31, 2022

Edition Size: 5,555 - Limited Edition

Traits: 18

Attributes: 222

Base price: 0.5 ETH

Source: Dappradar.com

Akuma Origins generated nearly $20 million in sales in its first week. Although daily trading volumes have since fallen back, total trading volumes have continued to climb. Akuma is the 10th most traded collectible in the past 7 days and the 19th most traded collectible in the past two weeks. The average price has been rising steadily in the first week, and after a slight dip earlier in the week, it is stable at 1.37 ETH at the time of writing.

Add Tool - Average Opening Rate

Akuma Origins has released a roadmap of support for the project once it launches. While the team has yet to communicate a specific timeline for achieving their milestones, they plan to reward their community with seasonal NFT drops. Akuma holders can exchange these airdrops for digital or physical art on the website. Holders will also receive a vinyl figurine of their NFT. These rewards are seasonal, which means holders of the first season will be able to receive the rewards of the first season. The team also plans to expand the project into virtual worlds, though exact details of the project are unclear at the time of writing. Holders who appreciate art will take full advantage of these utilities.

social awareness and participation

Akuma Origins has a modest online social presence. Its Discord server has 46,792 active users , a sophisticated onboarding program, and an active moderation team that reduces malicious bot activity and bad actors. Community conversations take place across channels throughout the day, indicating high levels of engagement.

Akuma Origins Twitter went live in December 2021 and currently has 70,849 followers. The account has experienced 80% of its total growth over the past 30 days, gaining 56,765 new followers at an average rate of 1,892 new followers per day. This shows strong interest and growing demand for the series.

Akuma Origins saw a surge in trader numbers, amassing over 2,000 unique traders in its first week. A total of 5,723 unique traders showed healthy demand for the series, although numbers declined in the ensuing weeks.

Team Profile

Bernard is the main developer and lead of the project. Mateo is a freelance artist and art leader. Mattias and Aitor, previously worked for Reikon Games (developers of the RUINER video game) and supported artists and developers. Ade is the developer supporting web3 and Luke is the community manager. Not all team members disclose their identities; however, they are readily available on the Discord server and regularly engage with the community.

Source: akumaorigins.com

Technical overview

Like most NFT projects, Akuma Origins uses IPFS to store its metadata rather than being entirely on-chain. This presents a common challenge for visually rich metadata projects, since smart contracts and metadata are separate. Still, from a technical point of view, there are no major issues.

• Review Status: Review not yet performed
• Storage: Akuma Origins NFTs are stored as ERC-721 tokens on the Ethereum blockchain, and visuals live on IPFS with immutable ownership.
• Contract address: 0xFA7E3F898c80E31A3aedeAe8b0C713a3F9666264

Whale Wallet Analysis

Akuma Origins currently has a unique holder ratio of 39% , indicating a more diverse collection of collectibles; indicating greater sensitivity to sudden price changes. 13.7% of giant whales have a very high density. A higher concentration of whales indicates an increased risk of price manipulation by well-known holders.

Among the top five holders are three significant whales — cryptopolitan.eth, ethersole.eth, and legendmaster.eth. Cryptopolitan.eth alone holds nearly 8% of the entire collection. The high participation of prominent NFT collectors and crypto investors may confound organic trading activity. It could also be a sign that the series is under-appreciated by the public. Users should be wary of following well-known traders, as their withdrawals usually precede a sell-off.

Summarize

Akuma Origins stands out with the following stats: The base price of 0.5 ETH is up 809% from minting; however, the average price of 1.37 ETH is up 2,391%, well above average. It was the 19th most traded collectible in the past two weeks, with more than $20 million in trade. The highest sale of 30 Ξ / $97,200 occurred just eight days after minting.

The concentration of giant whales in this collection is as high as 13.7%, and the proportion of unique active wallets is 39%, indicating that there are quite a few well-known giant whale traders involved in this collection. This participation may mean that the collection is not undervalued by the public, or that natural demand has been disturbed by increased whale activity.

The long-term growth of any project is very dependent on the utility it provides to its holders. Akuma specializes in rewarding holders with digital and physical merchandise, such as art books, digital prints, and vinyl figurines. Users who prefer the project's art style may enjoy planned rewards.