A comprehensive review of the NFT leaders outside of the ETH mainnet, they are quietly rising…
By: Cookie
Let's start with this news:
According to @DegenerateNews, on December 13th, DeGods founder @frankdegods agreed to provide a two-way bridge between Solana and ETH for DeGods holders, allowing them to migrate NFTs back to Solana, which is "meaningful."
Although I believe that DeGods is unlikely to regain support from the Solana community, that is not the focus of this article.
I wonder if the inscription's expansion to various chains outside of the ETH mainnet has brought more attention to chains outside of the ETH mainnet… In the past period, the leading NFTs on chains outside of the ETH mainnet have quietly experienced a wave of excellent performance.
BlockBeats will now list the outstanding market performance of these NFT leaders on various chains.
Solana
Since the beginning of this week, most of Solana's top NFT projects have experienced adjustments, as the top projects on Solana have been on the rise in the first two weeks of this week.
Mad Lads
(Image source: @TheOGGeneral)_
Mad Lads is undoubtedly the top project on Solana at the moment. On October 31, it announced the launch of its own exchange, Backpack Exchange, which has obtained a VASP license from the Dubai Virtual Asset Regulatory Authority.
On November 16, Mad Lads launched an activity to stake $SOL to obtain $PYTH, where all users could stake at least 5 $SOL after completing KYC to receive $PYTH rewards, with the largest reward share going to holders of Mad Lads NFTs. In just 3 days, there were approximately 150,000 KYC applications, and over 300,000 $SOL (18 million USD) were deposited into Backpack Exchange.
As for the NFT project itself, the team behind Mad Lads has created something called "xNFT" on Solana, and has specifically created a wallet called Backpack for "xNFT." In short, Backpack is an open programmable system built for Web3, which is like an iPhone for every Solana user, and "xNFT" is not just a "small picture," but programmable, an app within Backpack.
To put it in an easy-to-understand example, if I hold a certain series of NFTs, and the team of that series has developed on Backpack, I can download the xNFT (App) of that series in Backpack, and then directly access the portal/news push/physical activities, etc., without having to visit individual websites. The team can even develop exclusive games for NFT holders and place them on Backpack, turning NFTs from a website pass into a terminal credential for executing various codes.
In the past 3 weeks, Mad Lads has accumulated a growth of over 90%, and the current floor price is close to 185 SOL.
TENSORIANS
TENSORIANS is a 10K PFP series launched by Tensor, the largest NFT trading market on Solana.
The rise of TENSORIANS is not only due to the strong performance of $SOL and Tensor itself, but also the ability to airdrop the native token $TNSR to holders.
In the past 3 weeks, TENSORIANS has accumulated a growth of over 160%, and the current floor price is close to 93 SOL.
Okay Bears
This is the first time that the old star project of Solana NFTs has expanded beyond Solana, with a PFP series based on IP narrative. The recent good news is that its co-branded T-shirts are now available in 1,149 ZARA stores in 74 countries/regions worldwide.
Although Solana has gone through a dark period, Okay Bears has always stayed on Solana and continued to work. For example, in October, Okay Bears collaborated with (RED) to launch physical hoodies and co-branded NFTs. (RED) raises funds for pandemic prevention and health system construction, having raised over 7.5 billion USD, with partners including Apple, Bank of America, Beats by Dre, and others.
In the past 3 weeks, Okay Bears has accumulated a growth of over 60%, and the current floor price is close to 24 SOL.
SMB (Solana Monkey Business)
This project is an old OG in Solana NFTs, the first Solana NFT project with a trading volume exceeding 1 million SOL, with the advantage of a well-operated community and DAO.
In the past 3 weeks, SMB Gen2 has accumulated a growth of over 40%, and the current floor price is close to 117 SOL.
Polygon
Since y00ts left, Polygon has only one blue chip left. Yes, it's you, Pluto Misfits.
Pluto Misfits
This project also follows an IP narrative, and its strength lies in the strong support from Polygon. Polygon Ventures has invested, Polygon co-founder Sandeep Nailwal has swept 100, and many Polygon team members have used this project as their Twitter avatar. In addition, the project explicitly plans to issue tokens, coinciding with the recent enthusiasm for NFT token issuance on the ETH mainnet.
Since the end of October, Pluto Misfits has accumulated a growth of over 370%, and the current floor price is at a historical high, exceeding 1000 MATIC.
Avalanche
Dokyo
The project itself, in my personal opinion, doesn't have much to say… It also follows an IP narrative, and even their deck has the slogan:
"ETH has Crypto Punks, Solana has SMB, SUI has Fuddies, Dokyo wants to be the leader of AVAX"
In the past month, Dokyo has accumulated a growth of over 200%, and the current floor price is 42 AVAX. Well, it's indeed rising with the momentum of a leader…
SUI
Fuddies
This is the only NFT project I minted on SUI, and also the first batch of NFT projects on SUI. This project is one of the main reasons that prompted me to write this article, because I found that its floor price has actually risen to 750 SUI…
After careful observation, I didn't find any direct positive factors that caused this project to increase tenfold since entering November… I just noticed that the community is quite interesting, quite "abstract," and the group members always shout about wanting to liquidate others at the drop of a hat, and the whole project's crazy Degen Meme operating style is very fitting.
Cosmos
Bad Kids
The current floor price of this project is 72,500 STARS (over 1600 USD/0.7 ETH), and in the past 30 days, it has almost tripled in value when priced in STARS. Since STARS also had a nearly 2x increase in value this month, when priced in U, it has increased by up to 4x.
STARS is the token of Stargaze, the NFT application chain in the Cosmos ecosystem.
The rise of Bad Kids has two reasons: one is that the privacy-focused Layer1 protocol Namada on Cosmos airdropped their token $NAM to Bad Kids, and the other is the support from ecosystem leaders, including Osmosis Labs & Cosmos ecosystem wallet Keplr co-founder Josh Lee, blockchain development platform Strangelove founder Jack Zampolin, Celestia liquidity staking derivatives protocol core contributor @cosmonaut_joon, and others.
But in reality, I would like to say that the reasons for finding a rebound after the market are so pale in the face of the market…
LayerZero
LayerZero's logic is quite different from all the chains mentioned above, more straightforward, just because LayerZero's official announcement on December 8th stated that there would be a token, Gh0stly Gh0sts and tiny dinos skyrocketed due to the expectation of the airdrop.
Gh0stly Gh0sts is the first NFT series on Omnichain, and after the announcement of the LayerZero Token, it rose from 0.09 ETH to nearly 0.3 ETH within a day, and then quickly fell back, with the current floor price at 0.15 ETH.
Gh0stly Gh0sts
tiny dinos is a CC0 pixelated dinosaur series, with a very simple art style, and it received attention during the cross-chain NFT craze in late April last year, similar to Gh0stly Gh0sts, and was also promoted by mfer founder Sartoshi at the time. Its trend is similar to Gh0stly Gh0sts, rising from 0.03 ETH to nearly 0.2 ETH within a day after the LayerZero Token announcement, and then quickly falling back, with the current floor price at 0.06 ETH.
tiny dinos
Conclusion
To be honest, I personally feel that the reasons behind this wave of NFT market outside of ETH are a mystery… Even though I have always been optimistic about Polygon NFTs and have been playing on Polygon, I don't understand why this market wave has appeared on Polygon during this period, let alone other chains.
But I can observe that NFT players have a common idea - the odds of the old blue chips on ETH are really low, even if they return to their previous highs, the increase won't be too exaggerated. And, they are too expensive, many players can't afford them… So it's time for us to review this article - NFTs on Solana, the "sinking market" in the red sea. I believe that @0xLaughing's viewpoint from a year and a half ago has been partially confirmed.
Finally, I believe that every chain has the opportunity to replicate the path of the Solana NFT Season in a bull market - a project that attracts attention in the market (Okay Bears) -> a large influx of players buying potential new blue chips -> forming their own blue chip team on the chain.
Once the prices go up, people will naturally start to care about what the project is actually doing. When the pockets are full, people start talking about culture.
In addition, NFT projects are beneficial for expanding the influence of a chain in the Web3 Native community, and aspects such as identity, community culture, and player diversity will become stronger as a result of the formation of a blue chip team of NFTs on a chain. It is not denied that FT can also play a role in these aspects, but the effect is not as good as NFT, and this should be particularly evident in the player retention rate.
If we take the betrayal of DeGods before leaving Solana as the benchmark for non-ETH mainnet, I would expect the projects mentioned in this article to have even greater potential. But in the end, the most important thing to say is -
NFA, DYOR.
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