Crypto Coven —— Women’s Potential in NFT Market Remains to be Untapped

2022-03-08, 01:35

【TL; DR】

1. On January 20, Kat Dennings, the star of "Bankrupt Sisters", replaced her twitter avatar with crypto coven series NFT.
2. Crypto coven is an emerging NFT avatar project, which contains 9906 witch avatars cast into NFT.
3. Coven can not stand out without the rise of feminism this year.
4. Coven can be said to be a real product designed for women, filling the gap in the female NFT avatar market.
5. The female NFT market is huge. If we can accurately pinpoint and solve its pain and blind spots, the potential of the female NFT market will be greatly released.

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On January 20, 2022, Kat Dennings, the star of "Bankrupt Sisters", replaced her twitter avatar with crypto coven series NFT. On January 25, the founders of Uniswap, Aave, Synthetix, Compound and other DeFi projects also took crypto coven series NFT as twitter avatars. As a rising star of the NFT avatar project, crypto coven has soared all the way in the past month. What's special about it?

Female NFT Avatar Crypto Coven

Crypto coven is an emerging NFT avatar project, which contains 9906 witch avatars cast into NFT. According to the data of opensea, the world's largest NFT trading market, the trading volume of the project has exceeded US $20 million in less than three months, and the lowest trading price has exceeded US $5400.

Crypto Coven was founded by five women: NYX, Aradia, Aletheia, Keridwen and Xuannu. In the summer of 2021, NYX and Aletheia talked about the NFT avatars that were hot last year. However, most of these avatars were apes or in pixel style. So NYX decided to create some more feminine NFT avatars with friends. The reason why they choose the image of witch is that they believe that witches represent a powerful female power in many stories.

These avatars are not drawn one by one, but generated by code. They first drew some facial features such as face shape, facial features and hair, as well as body features such as hats, headwear, horns and tattoos. Then, they wrote a random selection algorithm to create 9906 witch avatars with different characteristics and attributes.

Witchcraft of Coven

At the end of November 2021, Coven released the first batch of witch NFTs, with a single price set at 0.05ETH. At first, Coven only spread on a niche platform, and the market response was not enthusiastic, but its sales continued to rise in the following weeks. Coven's secondary market did not become active until the beginning of 2022. By the end of January 2022, the average price of each witch had soared to nearly $7000.

Why can Coven still stand out quickly when the NFT avatar market is approaching saturation? Obviously, this is inseparable from the rise of feminism in recent years. Although the crypto market and digital art market have developed in full swing in recent years, most of their subjects are men, so their products are naturally difficult to take into account the needs of the female market.

Coven can be said to be a product really designed for women. Unlike conventional NFT avatar projects such as bored apes, Coven's avatar design takes into account the diversity and inclusiveness of avatar style. Aesthetics are diverse, and everyone's preferences are different. Coven's choice is not defined. Therefore, its design fully considers different races, personalities, clothing and temperament, and even sets the characteristics of appearance, constellation, combat value and so on. Coven's founding team also selected some words and used AI to randomly generate their own unique names for each witch.

Against the background that the female NFT avatar market is almost non existent, Coven team shows the feminism of the project from design to operation.

The Growth of Coven

On the homepage of Crypto Coven's official website, there are the introduction of the project founder, the details of the project Roadmap, the discussion on the technical level, etc. one section is to classify witches and introduce the characteristics of witches of different styles one by one. There are six different types of witches, such as Enchantresses, Hags, Mages, Necromancers, Occultists and Seers. Click “DIVINATION” under “CHARMS” in the menu bar. Users can also answer some questions to obtain customized witch avatars. Interestingly, these questions include MBTI personality type selection and type 9 personality type selection. It is not difficult to see that the product designer has really worked hard on the details.

When you enter the “Memoria” tab section, you will start a Q & A, just like the beginning of the traditional RPG game, leading users into the witch world. Obviously, this is also a point that Coven is worth learning for latecomers, because it does not limits itself to the secondary market speculation of NFT avatars, but really endows these witch avatars with cultural significance through linkage with story creation, game design and other fields. This makes them become the symbol of female power in the field of NFT avatars, but also better promotes the mining of their commercial value.

Conclusion

In recent years, the wind of feminism has boosted many crypto projects with women as the central theme. The data from the initial sale of Crypto Coven to the present also shows that the female NFT market is large. If we can pinpoint its pain and blind spots, the potential of the female NFT market will be greatly released.
So come on, witches, let's do witchcraft together!

Author: Gate.io Observer: Ashley H. Translator: Joy Z.
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