As we all know, the past few weeks in NFT world were filled up with new avatar drops. There were many hyped ones and undervalued ones. Most of them contained a 10,000 supply of the collection priced under 0.1 eth.
Surprisingly, most of the projects still managed to sell out within hours after they launched regardless of the roadmap, art style, or anything.
The reason was simple: FOMO. People are simply scared thinking they will miss the next BAYC or the Gutter Cats while they can mint, as a result projects like this created huge demand and even caused the eth gwei price to spike up.
Mad Cat Militia was also one of the avatar project that launch last week, but it is one of the few that hasn’t sold out yet.
Here is the general information about the Mad Cats.
MCM Project Overview
- ERC-721 Token
- Maximum supply of 10,000
- Priced at 0.08 eth each
- Max mint 3 at once.
- Rank system
- Military theme
- Launched on OpenSea
MCM Roadmap
The reason for the slow sale speed
Speaking about sale speed, most of the avatar projects released last week sold out after few hours after they launched, no matter their max supply, art style, and even prices. However, Mad Cats are still available for minting even after many days of their successful launch — 4135 cats left to be exact (at the time of this article).
The reasons below are what caused the slow sale speed:
- Fatigue of avatar projects/ bad timing.
Mad Cat drop happened on June 30th, around 10 PM UTC. The problem is that there were 2 or 3 popular projects dropped on the exact same day, and most likely people spend their funds on the projects first. (Example: deadheads) It is easy to convince a person to buy one random avatar drop, but not easy to convince him to buy 3 drops on the same day. - OpenSea Drop/Not having an instant reveal
Mad Cat team decided to move their drop method on OpenSea website instead of their own. The reason was to avoid gas war. The intent was great, but the community seemed concerned because this is a new method and was worried this could create issues. Second, people were only buying mystery boxes of mad cats, not knowing what they will get. Although the team revealed the metadata bits by bits after the launch, it is still quite different from the instant reveal, especially with such great art in the project itself.
- Limited Tx (3 max)
For the same purpose of avoiding gas war and making the drop successful, the mints per transaction were really low. Users have the option of buying 1 or 3 cats for each transaction.
This is supposed to make the drop very smooth and healthy, which it did. Unlike other really popular projects (Bulls on the block), where whales were able to buy tons of NFT during the mint (less than 1000 wallets minted the 10,000 bulls), the Mad Cat made sure that all users can buy cats without the gas war and failing their transactions.
However, the limited Tx also stopped people from minting. People were able to mint 20 in one transaction before this change, but now they have to submit 7 different transactions just to do the same thing. Extra works for the users.
What is special about Mad Cat
- Communities within the community
The 10 “Battalion” separated the whole collection into 10 different teams, create active actions and discussions all the time.
People in each battalion would come up with their own logo and form their own community.
- War game planning
The ranking system in Mad Cat can really drive up a lot of gaming ideas. The rankings are not just a rarity trait, the team is suggesting that it can be viewed as a real command structure.
Some ideas suggested are Simple battles where only holders can enter, Scavenger Hunts, and other amazing ideas! - Amazing Art
Just take a look at these cats, how can you not love them?!
Final thoughts about Mad Cat
Although it may seem like the project is slowly dying due to all the rising avatar projects and the slow-selling speed of MCM, the team with its active announcements and unique holders are what convinced me to stay.
Among the 5871 cats minted, we have 1572 unique holders, and no whales involved. You might think that NFT world is a fast-paced world and a project that hasn’t sold out within a few days would not be successful but do remember that even BAYC took weeks to sell out. I’d imagine sales will start picking up when we hit 70 or 80% sold.
Slow and steady while always delivering is what Mad Cat is doing.
For more information, visit MCM Discord, Twitter, and website.
