Collectibles

Undervalued: RENGA, Hello Kitty World, Grails, and More

BY Langston Thomas •

September 09, 2022

Traversing the world of non-fungibles is a daunting task. With so many new NFT projects, artists, and large-scale collections cropping up weekly, it has become nearly impossible to keep up with every subsequent development.

In the past, a simple browse of OpenSea was enough to find the latest NFT craze. But things have changed drastically since the 2021 NFT boom. Now, NFT enthusiasts have to be acutely mindful of what and where they collect.

To aid in the unearthing of awe-inspiring NFT endeavors both new and old, nft now presents Undervalued: a weekly column highlighting innovative projects, collections, and artists pushing the NFT space forward.

RENGA

A collage of RENGA NFTs in front of the RENGA logo
A collage of RENGA NFTs. Credit: RENGA

RENGA, launched September 2, 2022, is a large-scale PFP project created by independent illustrator and comic artist Dirty Robot. Capped at 10,000 NFTs, the collection is steadily growing as holders of RENGA Black Box NFTs burn their tokens in exchange for a RENGA PFP, created in the unique style of Dirty Robot.

Although the burn/claim mechanics of RENGA are something we’ve definitely seen before in the NFT space, RENGA itself presents a unique new form of community building through storytelling. Each time a Black Box is burned, a generative avatar is revealed, billed as being a building block to the “perpetual storyteller and creator through all current mediums, and those which have yet to be defined” that is RENGA.

Hello Kitty and Friends World

Hello Kitty and Friends World, launched on August 25, 2022, is the first major NFT collection from the iconic Japanese brand Hello Kitty. Created in collaboration with RECUR, a technology company that designs and develops dedicated branded experiences on the blockchain, Hello Kitty and Friends World is both a collectibles campaign and an interactive Web3 experience.

Collectors of Hello Kitty and Friends World NFTs have a lot to love: first off, they get the chance to own a piece of Hello Kitty history. But they also get to take part in challenges and obtain rewards. With the Hello Kitty World Marketplace, users can send their NFT characters on adventures to collect stamps from different virtual cities that can be traded for limited edition prizes. Interested? Learn more from the Hello Kitty and Friends World website.

Grails

The logo for PROOF Collective's Grails project
The logo for PROOF Collective’s Grails project. Credit: PROOF Collective

Grails, launched on February 25, 2022, is a collection of 45 edition pieces of art from 45 different artists that split into two separate seasons, each curated by and for the PROOF Collective. Initially, the identities of the artists featured within the collection were hidden, only to be revealed after the minting window had closed.

While Grails NFTs were originally only collectible by those who owned a PROOF Collective membership pass, holders could immediately trade their Grails on the secondary market, of course, with the risk of accidentally trading away a rare piece from a coveted crypto-artist. The collection, which consists of 2,214 NFTs (1,036 from season one and 1,178 from season two), was quickly overshadowed by MoonBirds, but has remained a robust part of the PROOF ecosystem.

Lil Pudgys

Lil Pudgys, launched on December 19, 2021, is the companion NFT series to the coveted Pudgy Penguins collection. Featuring 22,222 possible NFTs, Lil Pudgys originally ushered in an expansion to the Pudgy Penguins universe, while creating an economical way for NFT enthusiasts to join the Pudgy community.

Although Lil Pudgys trading saw a bit of a dry spell as the Pudgy Penguins project was reformed in 2022, the companion series has started to see a bit of an uptick in price alongside its predecessors. There is still much left to the imagination regarding the companion collection, but as things progress with the Penguin universe, Lil Pudgys will likely remain an undervalued way to join the community.

Abracadabra (ABC)

A collage of the types of ABC NFTs
An assortment of Abracadabra NFTs. Credit: Abracadabra

Abracadabra, commonly known as ABC, is a large-scale Solana PFP collection created for the simple reason of reminding NFT collectors how fun childhood is. Featuring 10,000 NFTs, the collection was launched on August 22, 2022, by the infamous NFT collector/investor 9x9x9 via his SOL moniker HGE.

Over the years, the meaning of NFTs has changed and evolved. Although commonly perceived to be all about money and art, the NFT space has much more to offer than profit and prosperity. With ABC, 9x9x9 seems to be issuing a callback to the very basics of collectibles and how they are, first and foremost, about fun. The images that make up the ABC collection are reminiscent of scribbles from school-age children, and they give ABC a unique and carefree aesthetic.

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