Baobab Studios Sells Out First NFT Collection in Hours

Credit: Baobab Studios

The nine-time Emmy award-winning studio Baobab just made a huge splash in Web3. Its debut NFT project “Momoguro: Holoself” recorded 12,000 sales worth $7.6 million on its first day, according to a report by CryptoSlam.

The collection, which consists of 8,888 Holoself avatars on the Ethereum blockchain, sold out in only nine hours after mint kicked off and led all NFT collections for 24-hours sales volume. Holders of the NFTs will be granted early access to the Uno Plan role-playing game (RPG), future Web3 experiences, NFTs, and other perks.

The Uno Plan game is dubbed as a fantastical metaverse where creatures use the “magical power of Momoguro Energy to fuse together” to form powerful “Momobeasts” with special abilities. It lets NFT holders create hybrid avatars and have an impact on their characters and stories. The game launches in the second quarter of 2023 on ImmutableX, a layer-2 scaling solution on Ethereum.

Momoguro is a new multimedia franchise and narrative RPG from Baobab studio,
founded by Maureen Fan, Larry Cutler, and Eric Darnell. Some of Baobab’s investors include Disney, Comcast, Shanghai Media Group, Alibaba, and others.

The studio believes that great stories and characters can transcend mediums. With Web3 as its medium, Momoguro intends to put the audience at the heart of the story. Considering the early success of its first mint, it looks like the audience is excited to participate.

Successful NFT Projects in Recent Months

The Momoguro NFTs certainly have a lot of people excited in the NFT space. But it isn’t the first successful NFT project we’ve seen in recent months. At Rarity Sniper, we’ve written several stories about NFT projects with successful campaigns recently. Here are the top stories.

First, the ex-NBA star Scottie Pippen burst into Web3 at the end of December when his debut collection SR33 sold out in a record-shattering 77 seconds. The 1,000 piece NFT collection features metaverse-ready sneakers and mystery boxes. The initial price of mint was 0.2 ETH, or around $240 at the time.

Next, on January 3rd, 16,027 “Checks VV Open Edition NFTs” were minted for the price of $8 each — the same price Twitter charges for its verification checkmark. The success of the open-mint NFTs from Jack Butcher’s Vizualize Value spawned a slew of derivative projects. Their floor price is currently 1.85 ETH.

Finally, Porsche pivoted into a successful NFT mint after listening to criticisms that its NFT collection was too large and too expensive. Instead of minting 7,500 NFTs as intended, the luxury car brand minted 2,363 tokens. The supply shock caused the floor price of the NFTs to skyrocket as high as 3.3 ETH. It’s currently 2.5 ETH at the time of writing.

We’ll have to wait until the Momoguro game drops in the second quarter to see if its popular with users. But if anything, the success of the debut NFT drop from Baobab studios is another sign that the NFT space is becoming healthier.