Spiky Space Fish Mint Reboot

I'll start this post with a story about how I participated in my first failed mint and how it may be coming back to life.

I've been watching the CryptoMories NFT collection for a while and I've been impressed with how much fan art the community has made and how passionate holders are about their Mories. The community has a certain vibe about it that's tough to explain, but it's a strong vibe to say the least. 

That observation brought me to the Spiky Space Fish, a sister project of the Mories, that minted in mid-December. Iwwon, who create the Mories, was involved in the concept and tech infrastructure behind Spiky Space Fish and Iwwon has a vision for a game, metaverse characters, and more art, so why not be involved in that community? Given the original 0.06 ETH mint price, it was a relatively low risk way to get into the community with high potential returns if the project went well. 

The problem is that when the Spiky Space Fish minted on December 17, 2021 they didn't sell out. Not even close. I was one of those who paid 0.06 ETH for a Spiky Space Fish and was left holding the bag. 

What to do with bag holders? 

A few days of deliberations went on and a decision about the mint was reached. The project would be re-minted today, January 4, 2021, at 1:00 ET with a 0.02 ETH price (low by Ethereum standards) and each original mint would get four new Spiky Space Fish NFTs for free (plus the cost of gas). 

For me, the deal was something I couldn't pass up. It cost about another $200 in ETH for gas to mint the new contract, but I now have four Spiky Space Fish NFTs. All I needed to do was wait for the public mint to see if this project was a dud or if it took off. If it did take off, I would have more exposure with 4 NFTs. 

Why the re-mint could be a home run

Could a re-mint be a hit? Normally, I would be skeptical. But there are a few reasons it could work out well this time around and they weren't obvious even a week ago. 

CryptoMories have been on fire the last few days, driven by Gary Vaynerchuk buying multiple CryptoMorie NFTs over the weekend. 

You can see that trading went a little crazy after that. 

So, how do Spiky Space Fish play into this? 

I have showed the (at the very least loose) tie between Mories and Spiky Space Fish and there are indications that both will be involved in an Iwwon game and potentially staking for some kind of reward. Spiky Space Fish will likely be a lower level in both, but still important. 

It would make sense then that with Mories rising then Spiky Space Fish would rise, or at least be worth more than their 0.02 ETH mint price. Secondary trading before reveal shows that people are paying around 0.1 ETH for Spiky Space Fish. That seems to bode well for demand for the 0.02 ETH mint today. 

Can a bad mint get a re-do? 

I'm not going to be minting any Spiky Space Fish (I already have four) but I'm going to watch this mint closely. I was bullish on the project to start with because of the team and clearly the mint was disappointing the first time around. But they didn't give up and found a solution they think works for everyone. 

One challenge is that we don't know anything about utility for games or any staking yet, so Spiky Space Fish is really a bet on the team and the Mories tie. But in the world of NFTs sometimes that's enough. 

If Spiky Space Fish can pull off a successful mint and the project's floor remains around 0.1 ETH it'll be a huge win and reinforce that NFT investing is about the team more than the art or the roadmap. But it could be a disaster again and if this project can't get a re-do right then I don't know who can. 

Disclaimer: Travis Hoium owns four Spiky Space Fish NFTs. The NFT Project DOES NOT provide financial advice. All content is for informational purposes only. The NFT Project is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. Travis Hoium does own all four Psychedelics Anonymous NFTs mentioned.