What is the Renga NFT Collection?
Renga NFT is a collection of 10,000 non-fungible tokens named after an ancient form of Japanese poetry. Each Renga NFT is uniquely rendered in a fluid, colorful, retro-futuristic art style that is both unique and cohesive. The Renga NFT collection started as an airdrop of mysterious Black Box NFTs to holders of comic artist Daniel Isles's "The Art of Seasons" NFTs. The vision behind Renga is to be a platform for perpetual storytelling through multiple mediums.
The Renga NFTs are like the first line in a longer story that the community is urged to carry on to completion. The Renga NFTs have no traditional NFT utility, and there is no roadmap for the project, allowing the community to tell the story however they please. The Renga NFTs have been successful due to their beautiful and unique art style, the ability for collectors to create their unique narratives around the collection, and their utility as something closer to inspiration.
What is the floor price of Renga?
The Renga NFT collection has a current floor price of 0.2 ETH and has traded over 52,000 ETH since its launch in June 2022. The floor price started at around 0.4 ETH and then shot up to 3.2 ETH before settling at around 0.2 ETH. This low floor price makes it an attractive option for new investors in the NFT space.
Who is the artist behind Renga NFT?
Renga's lead creative is Daniel Isles, an artist who blends East and West, future and past, mechanical and organic in his art style. The Renga NFT collection's success lies in the community's ability to create its own unique stories and narratives around the collection, and its utility may be something closer to inspiration.
Are Renga NFTs a good buy?
It is difficult to determine whether the Renga NFTs are a good buy. The project had maintained a healthy community sentiment but recently lost alot of holders and has a current floor price of 0.2 ETH, which is lower than the mint price. The Renga NFTs are part of a collaborative storytelling PFP collection, and owning a Renga may inspire for collectors to create stories. However, we believe this collaborative storytelling model will not work out in the long term.
The Bottom Line
To recap, Renga NFT is a distinctive and community-driven collection of 10,000 art pieces that allows collectors to forge their own narratives. Despite its striking art style and substantial following, Renga NFT lacks traditional utility and a clear roadmap. Therefore, potential investors should weigh personal preferences and investment strategies when considering this unique but uncertain project.