Renga Black Box sells out as hype for its reveal builds! Despite its high price, the Renga projects’ unique art style has lured in a lot of curious and interested buyers into its community.
About The Renga Collection
Recently, the Renga Black Box collection has become the center of attention in the NFT community with many curious to see the PFP projects’ upcoming art reveal.
Made by illustrator and comic artist, DirtyRobotWorks, the biggest reason for its popularity is due to its unique and great quality art that has pulled so many people in.
. @DirtyRobotWorks with the magic 🙌
— Renegademaster.eth 🐺🐑 (@renegademasterr) August 28, 2022
However, the collection wasn’t always viewed in a positive way by the community. Many had actually originally complained about the collection and its mint price of 0.4 ETH, which some in the community said was way too high for a project which is incredibly new, especially during a bear market.
Renga’s Success So Far
Since its minting went live just back on August 28th, the collections popularity has helped it to soar and has since sold out.
Wowowow! Absolutely insane! Thank you all so much for your amazing support— totally lost for words right now! Seriously, thank you so much for appreciating the Art and work we’ve put in to this project— much love!🙏🏿💯🙏🏿❤️ pic.twitter.com/ulXrqrmM9U
— DirtyRobot (@DirtyRobotWorks) August 28, 2022
The project has also managed to flip some of the biggest collections in the NFT space like Bored Ape Yacht Club and CryptoPunks in sales volume within the past 24 hours.
In just the span of a day, Renga Black Box NFTs have surged by more than 820% in trading volume, minted at a price of 0.4 ETH and even managed to trade at a floor price of 0.6 ETH at one point.
At the time of writing, Renga Black Box is now the second most traded NFT collection on Opensea within the past 24 hours, second only to the Solana project, DeGods.
Signs Of A Bull Market?
Many in the community have pointed out that with a collection like Renga being able to set its mint price as high as 0.4 ETH and selling out incredibly quickly, this may be good news for the NFT market.
Excitement and willingness of the community to buy a project at such a high mint price suggests that many in the community are still enthusiastic about the prospects of NFTs and are still willing to buy high priced NFTs, signaling that many are still bullish on the space which may help push the market towards a bull market.
Aside from that, this project may also signify the start of a new meta for the NFT space since the end of the “free mint meta” back then with the hype surrounding collections like Goblintown.