Since the rise of the Bitcoin ecosystem, the voice on the Ethereum mainnet has been relatively weak. Compared to the bustling Bitcoin NFT market, which has seen an influx of foreign participants, the Ethereum mainnet has seen NFT projects that can generate 3-5 times returns, but those that can generate 10 times returns are extremely rare and few in number, making it difficult for new projects to stand out.
In this weak Ethereum mainnet environment, the domestic NFT project Tinfun has become the most dazzling star in the market, delivering an incredible performance. Tinfun officially started its public sale phase at 11:00 am on January 7th, Beijing time, allowing each wallet to deposit a minimum of 0.1 ETH and a maximum of 0.2 ETH to participate in the public sale lottery for a chance to win Tinfun NFT airdrops. Originally planned to last for 24 hours, Tinfun announced the early end of the public sale lottery phase at 8:00 am yesterday. Why? Because the market enthusiasm was overwhelming. In less than 24 hours, a total of 25,000 ETH had participated in the public sale lottery, achieving Tinfun's target ahead of schedule to avoid excessive FOMO, and ended the public sale…
What kind of project is Tinfun? And how did it achieve such tremendous success?
Tinfun Introduction
Tinfun is a PFP project with a theme based on traditional Chinese culture, with a total supply of 10,000. Tinfun's design embodies elements of traditional Chinese culture:
The official website adopts a horizontal design, derived from the meaning of the Chinese character "横," symbolizing openness, vitality, and vigor.
The music on the official website is also noteworthy, with many Chinese NFT players praising it as having the feeling of playing a Chinese-style RPG. The founder of rektguy, @osf_rekt, also praised Tinfun's official website as very impressive.
The inspiration for the origin of the storyline "Water-Driven City" comes from the "Tao Te Ching," which states "Water benefits all things without contention."
The design of the Kun boat as a carrier and the guardianship of the Taotie and Pixiu, derived from "Classic of Mountains and Seas" and "In Search of the Supernatural," integrates traditional Chinese elements, which will be revealed one by one by the features contained in each NFT after the opening.
Tinfun's founder is the well-known Chinese NFT KOL and whale "Laser Cat" @BitCloutCat. The project began operation as early as September 2022, and after more than a year of cultivation by "Laser Cat" and members with rich IP incubation and operation experience from Tencent, WEB3 leading companies, and art team members who have worked at companies such as miHoYo (the lead artist is currently employed at Riot Games), Tinfun finally bore fruit.
Viewing the Rise of Tinfun from the Perspective of the "Resonance" in the Domestic and Foreign NFT Circles
The tremendous success of Tinfun's sale is the result of the combined effect of "timing, location, and people." The most interesting aspect is the "people," because the domestic and foreign NFT circles have actually been quite disconnected for a long time. On Tinfun, the two forces have once again converged, unleashing astonishing power.
"Timing" refers to the relatively hot NFT market and the gradually optimistic sentiment towards the approval of the Bitcoin spot ETF. Although the heat of the NFT market on the Ethereum mainnet cannot be compared to that of Bitcoin, there have been examples of relative recovery in the NFT market on the Ethereum mainnet recently, such as Webverse, which sold 4700 at a price of 0.15 ETH and 300 at a price of 0.5 ETH, and quickly sold out (after the sellout, the floor price also doubled). On Solana, CryptoUndead has also garnered great attention, with the pre-sale whitelist floor price of 2.5 SOL soaring to 15 SOL. In addition, there has also been a good NFT market on Sei.
Given the increasingly optimistic sentiment towards the approval of the Bitcoin spot ETF, if Tinfun's public sale were still ongoing, I believe NFT players would be even more FOMO about Tinfun…
The concept of "location" is easy to understand—this is a project on the Ethereum mainnet. Although the Bitcoin NFT market is becoming increasingly popular, the main battlefield for English-speaking NFT players is still the Ethereum mainnet (of course, there has been increasing attention to Bitcoin recently, and Ethereum NFT players have played a significant role in the rise of NodeMonkes). The foundation of the Ethereum mainnet NFT market is indeed profound, and once there is a consensus target, it could erupt at any time.
Finally, the most important factor is "people." The disconnect between the domestic and foreign NFT circles has persisted for quite some time. While English-speaking NFT players are still exploring various PFP, blockchain games, and art projects, the attitude of Chinese-speaking NFT players seems "lackluster." In my personal opinion, Azuki Elemental has deeply hurt Chinese-speaking NFT players, and since then, the Chinese-speaking community has been very indifferent to PFP projects, with only a small number of blockchain game players still active in exploring projects in the NFT market on the Ethereum mainnet. However, for blockchain game players, "flipping" is just one part of the investment process, so strictly speaking, blockchain game players only have a certain intersection with NFT players.
Chinese-speaking NFT players are not short of money, but it has been a long time since a project has emerged that Chinese-speaking NFT players are willing to "rush" into. Why do I say they are not short of money? I vividly remember the last time the appearance of NFT in a Simpsons episode caused a wave of speculation in "Springfield Punks." I observed that the English-speaking community's attitude was either "gamble and quickly exit" or "poor quality, not interested," but in the Chinese-speaking community, I saw people still getting involved at 0.3 ETH. The reason is simple—because it rose too sharply, and the degen in the Chinese-speaking community was once again alarmed by the rise of NFT…
Springfield Punks has basically returned to zero
The traditional Chinese elements of Tinfun are one of the reasons that attract Chinese-speaking NFT players, but I think the bigger reason is the enormous influence of Tinfun's founder "Laser Cat" in the Chinese-speaking NFT community, and the trust placed in him. The appeal of "Laser Cat" himself, combined with the assistance of many Chinese-speaking KOLs in promoting Tinfun on Twitter, has mobilized Chinese-speaking NFT players.
On the English-speaking side, the logic is simple. First, they know that "Laser Cat" is a Chinese NFT influencer and whale. They may not be very familiar with the specific appeal of "Laser Cat" in the Chinese NFT community, but they will look at the floor price of the LaserCat NFT in the "Laser Cat" community.
Just a relatively low ask order made the floor price appear to have fallen. When foreigners saw 8e, they gave a thumbs up, yesyesyes.
After the start of the Tinfun public sale, the amount of ETH participating in the public sale lottery surged. It must be said that, although the Chinese NFT player community has been less active compared to the English-speaking community for quite some time, the English-speaking community really values the "Chinese power." Seeing Chinese NFT players rushing in, the English-speaking community also joined in the rush.
So, to summarize, the commonality between the Chinese and foreign NFT communities is definitely "making money," but sometimes the English-speaking community will do things "beyond making money," such as making low offers for art NFTs they like after making money. The purposefulness of the Chinese community will be stronger, that is, "making money." Of course, there is a reason for this, because to be honest, NFT has not had a breakthrough narrative for quite some time, and the Chinese community's interest and confidence in the old narratives are very low.
The commonality among everyone is "human nature." Based on this, Chinese and foreign NFT players have once again formed a united front, forging the success of Tinfun—Ethereum NFT is not dead!
Is the Power of Domestic NFT Returning?
In addition to the tremendous success of Tinfun, we also see some NFT projects led by Chinese forces that are poised to make a breakthrough. For example, the NFT project CybeReator initiated by another Chinese-speaking KOL and whale, the founder of Smart Collector Club, "Teacher Guan" @jivacore, has started its first round of promotion after more than a year of accumulation, attracting attention and discussion in the Chinese NFT community.
In the Bitcoin NFT space, INK, as a project initiated by Chinese individuals, has garnered tremendous attention due to its excellent artistic quality. Co-founder @zetman_eth recently conducted a poll on Twitter to gather players' opinions on the Chinese name of the project.
In addition to these new projects, "Little Ghost," as a "pillar" of domestic NFT, has been continuously building and maintaining the confidence of Chinese NFT players in domestic NFT projects for a long time.
The Chinese NFT community is definitely a force in the NFT world that cannot be ignored. Will the return of this force be led by the resurgence of domestic NFT projects? This makes me very excited. We do not lack good projects, nor do we lack good players, we just lack that flame in our hearts, waiting to be reignited.
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