The Strongest NFT Knowledge Point In The Whole Network, Everything You Need To Know Is Here (1)
In recent days, NFT is one of the hottest projects undoubtedly. With such fluctuation in the cryptocurrency market, from Moonbirds to EightBit Me, various NFTs can still get out of the independent market, which undoubtedly ignited a new round of “fomo” sentiment in the NFT market. Today, I will discuss with you the common NFT gameplay in the market, and I will introduce the analysis tools and scientist methods of NFT to you later. Remember to keep paying attention~
NFT Related Concepts
NFT (Non-Fungible Token), as the name suggests, every NFT is unique. For traditional blockchain digital currencies, tokens are interchangeable. For example, the BTC I own is essentially the same as the BTC owned by others. I can use my BTC to exchange with other people’s BTC. For NFTs, NFTs are indivisible, irreplaceable and unique. Each NFT has its own unique and distinguishable characteristics, so NFTs are not interchangeable. In addition, each NFT can be fully tracked on the underlying blockchain, so it can also provide buyers with proof of ownership. To some extent, the NFTs I own are my own unique digital assets.
NFTs include paintings, artworks, sounds, videos, in-game projects or other forms of creative works. At present, creating NFT is very simple. People can upload images, audio, video and other files on the NFT trading market (such as opensea). After the file is uploaded, unique NFT tokens will be generated on the blockchain, which can be purchased and resold on the NFT trading market through cryptocurrency.
For NFTs, while creators can sell created NFTs, they can still retain the copyright of the artwork and create more NFTs of the same artwork type. Buyers of NFTs can not gain exclusive access to the artwork, and they can not gain exclusivity to the original digital file as also. Because NFTs have a lower upload threshold, people uploading a work as an NFT do not have to notice the original artist, and in many controversial cases, artworks have been stolen for non-fungible tokens without the creator’s permission.
NFT Pass Card
The recent successful linkage of PROOF Collective & Moonbirds has made Pass + PFP projects a new trend, gradually occupying the NFT market share. PFP is profile pictures, such NFTs are usually used as profile pictures on social platforms such as Twitter. Pass, which is essentially similar to a membership card, is a kind of identification and proof of rights. The person holding the Pass card can be identified as a member of a certain group and can enjoy certain rights and interests. Relatively speaking, the income of holding the Pass card is relatively clear, and the Pass card can also be transferred through transactions.
Common NFT PASS Card
PROOF is a high-quality podcast focused on the NFT field founded by Kevin Rose, a famous person in the Web2 and Web3 fields.
In December 2021, PROOF Collective, a private community of 1,000 people with NFT access passes launched, where holders of PROOF Collective can unlock free NFT drop benefits, access to future events, and other privileges and benefits.
PROOF Collective NFTs, issued as Proof Pass cards, were initially sold through Dutch auctions for 5 ETH per Pass card, but their value has soared on the market, with the floor price currently as high as 105.5ETH.
Dutch auction, also known as “price reduction auction”, is a special form of auction. It refers to an auction in which the bidding price of the auction object decreases from high to low until the first bidder bids (reaches or exceeds the reserve price) and hits the hammer.
Suppose a project adopts a Dutch auction, the number of tokens auctioned is 100,000, the starting price is $1, the price decreases by $0.2 every 3 hours, and the auction lasts for 2 days.
If no one bids after the auction starts, 3-hour later, the coin price drops to $0.80. At this time, if there is a bidder bidding, the bidder intends to buy the token at a price of $0.80. At this time, if the bidder buys all the tokens at a price of $0.80, the auction ends, the bidder gets all the tokens, and the final auction price is $0.80;
But if the bidder only bids for 50,000 tokens at $0.80, the remaining 50,000 tokens go on to auction. Token prices continue to drop over time, and if no other bidder bids during this period, by the end of the auction, the only bidder who bought 50,000 tokens at $0.80 is valid, and the 50,000 tokens were bought at $0.80 price, and the remaining 50,000 tokens were recovered;
If the token price keeps falling over time, another bidder bids for 30,000 tokens when the token price drops to $0.60; when the token price drops to $0.40, another bidder The bidder bids to buy 20,000 tokens; at this point the tokens are divided, and all three bidders will buy the tokens for $0.40.
Dutch auctions have two statistically significant features. First, the price decreases from high to low according to a pre-determined price reduction ladder over a certain time interval. Second, All buyers will be dealt at the lowest price at the end of the purchase.
According to Tokenview data, the recent transactions of PROOF Collective are still very active. On April 22, the number of transactions in a single day reached 50, and the number of active addresses was 89. It can be seen that the PROOF Collective NFT still popular.
Premint is a tool-like NFT, which is more empowered and practical than other NFT projects such as PFP. The number of Premint Pass cards issued is 10,000, and NFT holders can track popular projects, create private calendars, subscribe to popular project Mint dates, and whitelisted on the PREMINT platform. PREMINT is currently one of the most frequently used NFT services and is loved by the entire web3 community.
The mint price of the Premint Collector Pass card is 0.25ETH, and the current floor price on opensea has reached 2.799ETH.
Tokenview data shows that the addresses which NFTS hold more than 200 pieces have not changed. The overall number of transactions and active addresses of Premint Collector Pass have not changed much in recent times. It shows that the market selling pressure is not heavy, and everyone wants to hold it for a long time.
How To Find Blue-chip NFTs? Take Specific NFTs As An Example
The term “blue chip” comes from Western casinos. In Western casinos, there are three colors of chips, of which blue chips are the most valuable, red chips are the second, and white chips are the worst. Blue-chip NFTs refer to good NFTs that are valuable and worth holding for a long time. The following is an example of how to find blue-chip NFTs.
Since Moonbirds was released, its market value has been increasing steadily, currently the market value breaking through $300 million. Moonbirds’ initial mint price is 2.5ETH, and the current floor price has risen to 29.99ETH.
1. The team/sponsor behind the NFT is very important and determines the influence and security of this project.
Moonbirds NFT have great achievements in such a short period of time, mainly due to the strong background and operational capabilities of the PROOF team. Kevin rose, the founder of the PROOF Collective team, as the famous person in the web2 and web3 fields, has rich resources in both investment experience and contacts in the crypto field.
Before Moonbirds, Proof released another NFT collection, called Proof Collective, which was mentioned above. Because PROOF Collective had a successful experience, Moonbirds was liked by all kinds of people when it was launched. In fact, Moonbirds themselves are counted as the benefits for Proof Collective members: a total of 10,000 Moonbirds were minted, of which 2,000 were allocated to 1,000 PROOF Collective members, and each PROOF Collective member can subscribe to 2 Moonbirds with a minimum-guarantee. Of the remaining 8,000 Moonbirds, 7,875 were allocated to the winner of the lottery, and the remaining 125 were saved by the Moonbird team.
2. High casting threshold can effectively screen high-value users
When participating in the Moonbirds’ lottery, in addition to authenticating twitter and discord, they must also have at least 2.5 ETH in the wallet, which also improves Moonbirds’ casting access threshold to a certain extent, which can effectively screen value users and improve community consensus.
Since the end of the Moonbirds sale, the rate of people who have not sold within 24H have accounted for 92.8%. According to Tokenview data, we can also find that the number of transactions and active addresses of Moonbirds have gradually stabilized recently, which means that the number of holders has entered a stable trend, and the purpose of most buyers is long-term holding rather than short-term selling arbitrage.
3. Empower NFT function, continuously expand functionality and playability
In general, Moonbirds holders will roughly have the following three permissions: First, Moonbirds holders can unlock membership in some private clubs, including entering PROOF’s private Discord to participate in closed-door discussions, etc. Second, early bird qualification: Moonbirds holders will be able to obtain early access to the Metaverse project “Project Highrise” that PROOF will launch next. Third, the airdrop qualification for follow-up projects in the community.
In addition, Moonbirds owners can also put their Moonbirds into the “Nesting” state. After entering the nesting state, it is equivalent to locking the NFT. Moonbirds NFT will not be able to trade normally through markets such as OpenSea, but it can still be transferred to other addresses in the form of hand-signed on the website provided by PROOF.
It can be seen that a good NFT project should expand the function, strengthen the holder’s willingness to hold by creating a diamond hand system, and form users’ consensus.
BAYC (Bored Ape Yacht Club) is a collection of 10,000 NFT apes, each ape with completely unique characteristics, so every ape looks unique. The current floor price of BAYC is as high as 139.8ETH.
1. Unique access rights and airdrop rights
Bored Ape owners have access to BAYC’s clubs and communities with early access to new NFTs, NFT upgrades and other types of privileges.
Shortly after the launch of Bored Ape, holders of 10,000 BAYC NFTs were airdropped with a random grade of mutant serum vials: M1, M2, and M3.
These serums are randomly distributed to wallets holding ape NFTs. The original ape can create a new mutant ape MAYC (Mutant Ape Yacht Club) by using the mutant serum. Mutant apes share some characteristics with primitive apes. The M3 serum bottle can create a new mutant ape unrelated to the original, making mutant apes even rarer.
In addition to MAYC, Yuga Labs, the company of BAYC, also specializes for Ape holders in free BAKC (Bored Ape Kennel Club) casting qualifications. Wallets with Ape can cast Club Dog NFTs with various attributes and rarity, and only need to spend a little gas fee. That’s it. If these dog NFTs are sold, a 2.5% royalty will be charged for a limited time, which will be donated to animal charities.
2. Innovative NFT issuance
On March 17, 2022, ApeCoin (APE), a token related to the Bored Ape Yacht Club (BAYC) NFT ecosystem, was officially launched and announced that it would conduct an airdrop, 15% of the total ApeCoin supply would be provided to BAYC/MAYC NFT holders (Bored Apes and Mutant Apes, and BAKC dogs paired with BAYC or MAYC). After BAYC company Yuga Labs officially announced the launch of ApeCoin, the BAYC floor price rose sharply.
Tokenview data shows that BAYC’s recent transactions are still very active, indicating that the current market sentiment is still good, and the market also approbate the value of BAYC.
Azuki, is a series of NFT pictures with Japanese animation theme, with exquisite painting style and first random 10,000. At present, the floor price of Azuki has reached 25.5ETH.
Why was Azuki so popular? Here are a few points to discuss with you:
1. A new sales model
The principle of Dutch auction was introduced above. Azuki joined Dutch auction before whitelisting casting and public sale. The starting casting price of Azuki at this stage is 1ETH, which decreases at a rate of 0.05ETH/20min until 0.15ETH. This stage provides 8800 Azuki castings. Taking advantage of everyone’s Fomo’s psychology, if this time is sold out, there will only be 1200 Azuki left in the later whitelisting and public sale stages. And even if it is really not as expected, the casting price in the whitelist stage will be half the price of the last Azuki in the Dutch auction, it will attract enough people to join, and the duration is 48 hours. The final public sale of the casting price will be the price of the last Azuki in the Dutch auction, which will sell the remaining Azuki.
In addition, Azuki has developed a new standard ERC721A, which uses batch mints to reduce the gas cost of users minting multiple NFTs.
2. Japanese manga art style, art understands ACG very well
The Azuki team has backgrounds in large technology companies such as Facebook, Google, YC and Blizzard. In terms of design, Azuki obviously has a typical Japanese animation style, and on this basis, it incorporates American rough elements and has the characteristics of a fusion of Eastern and Western cultures. Compared with other PFP NFTs, Azuki undoubtedly caters to Eastern aesthetic literature.
3. Hold and enjoy airdrop rights
The Azuki team launched a new NFT at the end of March, called BEANZ, which will be airdropped to Azuki holders. The current floor price of BEANZ is also as high as 4.95 ETH. According to Azuki’s official news, BEANZ will eventually become an admission ticket to the independent Discord, and more merch/collectible airdrops may be given to BEANZ holders in the future, similar to the matryoshka dolls mechanism.
4. Community roadmap disclosure gives Azuki more room for imagination
If you hold Azuki, you will have a pass to THE GARDEN. THE GARDEN is Azuki’s community, a Metaverse project, in which you can have your own NFT-like image. There will be corresponding usage scenarios in the future.
By analyzing the popular blue-chip NFTs on the market, I believe you have a general understanding of the common gameplay and innovations of NFT projects. When the next blue-chip NFT project in the market appears, will you have the confidence to seize it?
Well, the first issue of NFT knowledge point has been shared with you, and the analysis tools and scientific methods of NFT will be introduced to you one after another. Remember to keep paying attention.