NFT Spotlight: Koala Intelligence Agency & The Power of Community

NFT Spotlight: Koala Intelligence Agency & The Power of Community

By CJΞN | New Money Culture | 21 Oct 2021


And why I decided to buy Koala Agent #273

Multiple images of cartoon koalas from the NFT collection called Koala Intelligence Agency Koala Agents from the Koala Intelligence Agency (source: OpenSea.io, none of them are my own)

I always loved the artwork of the Koala Intelligence Agency but felt like I missed the boat back in the late August hype when the floor spiked well above 1 ETH. The KIA already checked all the boxes for what I look for in generative NFT collections, so when the price came back down during the fall, it was finally time for me to pick up a ‘walla’. Here’s what I like about the project.

 

#1 Interesting and unique artwork

When I buy a piece of digital art, an avatar, or another kind of collectible, the aesthetics matter a lot. It needs to be interesting and different from what’s already out there, and also something I enjoy looking at. The KIA artwork is clearly done by a highly skilled artist and is easily recognizable in the crowded world of NFT avatars.

I personally really like the KIA collection. I generally prefer clean, monochromatic, and ideally grayscale artwork with just a dash of color to add some contrast and a spark in the artwork. Based on this description, you can tell why I’m excited about the koala I was able to pick up.

1*tdWfjVbl6ojLBgBoKI-ajg.png Koala Agent #273, the new addition to my own collection

 

The koala I bought is actually one of the least rare ones and serves as a great example of when aesthetics matter more than rarity. I’ll enjoy having this in my wallet, or even as my wallpaper or profile picture, even if the price gets cut in half.

For the overall success of the project, I also like that there are no “bad” pieces in the collection. In many collections, you’ll see a few (or a lot) of pieces that are much less attractive than the rest. These can really drag down a project by lowering the floor price, the community spirit, and the interest from potential newcomers to the project.

1*EZQ7Lh0AqjWjND78FUYgaA.png Three of the Koala Agents for sale on OpenSea

 

The attitude and style of the koalas vary quite a lot, from the serious and subtle to the fierce and flashy, but they’re just different in who they appeal to, not in their quality. The broad appeal is arguably one of the strengths of KIA.

 

#2 Clear mission or purpose

Now, I will admit that the KIA didn’t have the strongest mission or purpose when I invested. This isn’t necessarily a deal-breaker for me, as long as the artwork, the team, and the community are all looking strong. An elaborate roadmap without a strong foundation is worthless, as proven by many other NFT projects. So the fact that KIA had the foundation, plus a new roadmap just about ready, was enough for me.

Among other things, the new roadmap features some ambitious plans for the metaverse, with a strategic partnership with Land Vault and a prominent piece of land already secured in The Sandbox. Other notable items are the creation of a community DAO, more geocaching missions for KIA holders, and artist collaborations and airdrops. Check out the Twitter banner I got for free as an example of the latter.

1*sMx0yrAeN8012EGg7v-pJA.jpeg Undercover Agents’, airdropped for free to Koala Intelligence Agency holders

One thing the KIA has always done very well is supporting some great causes. They have donated a significant amount of money to charities helping wildlife and koalas specifically. I love seeing this willingness to help the less fortunate and use money for good! It says a lot about the team and makes me even happier to be part of the community.

 

#3 Strong and dedicated team

A really positive sign when the new roadmap wasn’t yet in place was how the team communicated about it. The KIA team gave frequent and consistent updates on Discord and Twitter, explaining what was going on behind the scenes and when the community could expect more concrete announcements.

1*cIwgqJ5kfepd530jIeDW9w.png Examples of the KIA team’s regular project updates on Discord

 

This communication kept the community engaged and prevented people from raising a lot of questions and doubts about the future of the project. Even when there’s nothing super concrete to announce, it’s much better to tell that to the community and give some rough deadlines as the KIA team did.

 

#4 Large and engaged community

When the hype and short-term speculation died down in late August, the strong community became even more visible. The numbers tell one part of the story: KIA has more than 33,000 Discord members, 10,000 more than a month ago, and 28,000 Twitter followers. You’ll also see plenty of people with Koala Agents as their profile pictures.

Furthermore, the 10,000 Koalas are distributed among almost 5,000 owners. This is very impressive in this space, especially for a relatively low-priced project. It’s very common for newer 10k projects to have 2,000–4,000 owners, whereas only a few have more than 5,000 unique owners.

The good thing about a high owner distribution is that a person who owns just one NFT in a collection is much less likely to sell. Someone who owns 10 or 50 NFTs from the same collection could suddenly sell out to get some liquidity, thus pushing the prices down. These people generally have a lot of power over the market, so the fewer of them who are in a collection, the better.

1*RsZolorM6p9Uz78QLjPgrA.png The Koala Intelligence Agency’s profile page on OpenSea

The other part of the story is the less quantifiable one, the “vibe” of the community, the feeling you get from spending a few hours in an NFT project’s Discord. I want to see a community that believes in the project and wants to be part of it long-term.

I personally like what I’ve experienced in the KIA Discord so far, and people are welcoming, helpful, and not just talking about sweeping the floor, pumping the prices, and making money. This can also help convince new people to join the community and give them a nice experience when they do.

As of this writing, much of the NFT market has experienced a couple of rough weeks, so there’s naturally some price talk going on. But that’s by no means unique to the KIA Discord. And speaking of the price…

 

Timing my purchase

Now, when I buy something because of all the above and consider it a long-term investment, my exact entry point obviously doesn’t matter as much. At the same time though, I am still an investor and definitely don’t like losing money. As mentioned at the beginning of the article, I did also put a good amount of thought into the timing and price of my purchase.

1*iKGY8BysD4Y6dNCLWo-8lg.png The KIAs average sales price since launch in August

 

I like to see some consolidation and stabilization after a big run-up like the one KIA had in August. When I bought my Koala on September 23rd, the prices had been consolidating all throughout September and started to creep back up. I figured we could see the prices continue in that direction, especially as specific plans for the future were to be announced.

As hinted at earlier, October has not been kind to the NFT collectibles market. Most collections have been hit hard and seen their average sales price cut in half. This is also the case for KIA with a current floor price below 0.2 ETH. With that, it’s safe to say my purchase hasn’t been a good investment so far. Well, at least I didn’t buy at the peak in August…

What’s even more important, I had done my research beforehand and knew I was getting into a solid NFT project. This makes it much easier to sit through a market correction like this one. My conviction in KIA hasn’t changed, and I’m excited about everything that’s coming in the future!

Because of that, the current prices also seem like a great buying opportunity. That’s by no means meant as financial advice, of course. Please do your own research before buying or investing in anything.

This article was originally published on Medium.

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CJΞN
CJΞN

Investor, crypto nerd, and designer writing about modern finance, investing, and NFTs for creators and solo capitalists. Not financial advice, DYOR.


New Money Culture
New Money Culture

New Money Culture is a blog about cryptocurrencies, NFTs, and the other technological and financial innovations that are completely revolutionizing the landscape for investors, creatives, solopreneurs, and our society at large.

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