The NFT market has exploded since the start of 2021, with collections like Bored Ape Yacht Club and CryptoPunks soaring to valuations in the hundreds of thousands. However, there may soon be a new entrant on the market – Al Cabones.
The gangster-themed NFT project launched in 2021 following a cascade of hype that saw its floor price soar to almost one Ethereum post-mint.
And whilst it has suffered a difficult period during the recent NFT market lull, Al Cabones is under new leadership with ambitious plans over the coming years.
A rocky launch
When it launched, Al Cabones had all of the characteristics to become a natural ‘blue chip’ project like BoredApeYachtClub, with stunning art capturing the minds of thousands that flocked to the project’s discord channel and social media in their droves.
However, the project got off to a disappointing start, with the community rapidly becoming disillusioned with the choices of the founders and original project managers.
It soon became apparent that the ‘meta’ in the NFT market had shifted away from ‘Profile Picture’ art (PFPs) and more towards a Play To Earn (P2E) model. The previous ownership were slow to adapt, leaving the community frustrated.
Time to thrive
In January, numerous members of the community, made up of mostly large holders and early investors, came together to discuss taking the project over with talks of creating a DAO.
The new team spoke with confidence about the future of the project, plans were proposed to build Al Cabones into a P2E project, combining the naturally unique art with a gamified aspect spanning across poker and traditional text-based RPG mechanics.
What's dead may never die. 💀 pic.twitter.com/fnJyPMF4lW
— Al Cabones 💀 (@alcabonesNFT) October 17, 2021
And now, the NFT world is beginning to notice. Daily sales have increased 10-fold while the floor price is up by more than 300%. If the new team can execute the new roadmap effectively, Al Cabones may well become the next highly-esteemed NFT project to thrust itself into the mainstream.
With there now being a clear and transparent stream of communication from the new team, paired with a concrete roadmap that promises to deliver gamification features before the end of summer, Al Cabones is certainly seen as a sleeping giant within the NFT sphere, in spite of its rocky original mint and post-launch management in 2021.
To read more about the project and the upcoming roadmap, click here.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.