Last week, we introduced the Hyperliquid NFT market (read more: Niche players rejoice, Hyperliquid NFT surprisingly rises against the trend?). It can be said that the Hyperliquid NFT market was primarily driven by foreign NFT player communities during its recent market phase, at least on the surface, there are not many signs of official intervention from Hyperliquid.

In contrast, the Sonic NFT market we are introducing this time is almost the opposite. It can be said that Sonic NFT is a very unique NFT ecosystem.

The Uniqueness of Sonic NFT

- The NFT player community has largely ignored the Sonic NFT ecosystem. This may be related to Sonic's background, which is a chain led by DeFi OG Andre Cronje, focusing on DeFi, originally known as Fantom, now renamed Sonic. The players participating in Sonic NFT are more from the DeFi player community and users who are already active in Sonic (Fantom).

- Clear top-down signs. For example, many of Sonic's official personnel currently use Derps, the leading Sonic NFT, as their Twitter avatars. Currently, there are 16 verified accounts under Sonic's Twitter organization, of which 9 accounts have Derps avatars, and Andre Cronje himself also uses a Derps avatar on Twitter.

- Predominance of "equity-type" NFTs. The projects with the highest trading volume are almost all due to the "shovel" effect, and they mostly come from project parties with actual products, often linked to token airdrops, token pre-sale rights, and other utilities.

How to Participate?

Compared to Hyperliquid, the preparation work to participate in Sonic NFT is quite easy. We can directly buy $S on major CEXs and then transfer it to the Sonic chain, and then trade on Paintswap.

Introduction to Sonic NFT Projects

Derps

Currently, there is no doubt that Derps is the leading Sonic NFT, with a total of 2000 pieces. As mentioned earlier, many Sonic team members use this project as their Twitter avatar.

The current floor price is 2000 $S, approximately 1100 USD, with a market cap just over 2 million USD. It is worth mentioning that this project has a token $DERP, which currently has a market cap of about 6 million USD, and the price difference between the NFT and the token is not significant. Derps NFT holders can claim $DERP daily, and the amount claimed each day does not accumulate, which is a rather interesting mechanism. The token economics of $DERP are as follows:

- Total supply of 420,696,696 tokens

- 30% for initial liquidity

- 30% for Derp NFT holders, claimable daily

- 20% allocated to the treasury for project development

- 10% for "bribing" various DEXs, which can be understood as marketing funds to promote better liquidity for $DERP

- 10% allocated to the team, locked until December 25, 2025

Simply categorizing Derps as a "cultural community" project is not entirely accurate, as it also has some DeFi gameplay based on $DERP, such as using $DERP to mint ERC-1155 type NFTs to increase $DERP output, or using $DERP to "feed" Derps NFTs to obtain Beprs NFTs, which is a series with a total of 69,420 pieces (initial maximum supply of 10,000, increasing over time). The team plans to build a game around Beprs NFTs in the future.

However, currently, the most attractive aspect of Derps is undoubtedly the "golden shovel" effect. Previously, Derps NFT holders received the first major airdrop of $SHADOW, which is a DEX on the Sonic chain, with each Derps NFT receiving about 2000 USD worth of $SHADOW. Moreover, the OG series of Derps, Derpe Dewdz (with only 100 pieces, currently the floor price is about 5 times that of Derps), received about 8500 USD worth of $SHADOW. With many Sonic team members using this project as their Twitter avatar, it undoubtedly raises players' expectations for the future "golden shovel" effect of Derps.

SwapX xNFT

An NFT series launched by the DEX on Sonic, with a total of 2989 pieces, and the current floor price is 5800 $S, approximately 3300 USD.

This is not a PFP project, but an "equity-type" NFT. Holders can stake this NFT to receive dividends from the SwapX platform and enjoy some token pre-sale qualifications for Sonic projects.

Lazy Bears

An NFT series issued by the Token Launchpad on Sonic, with a total of 2244 pieces, and the current floor price is 274 $S, approximately 156 USD.

I believe this project can become popular for two main reasons: one is the expectation of its potential to issue its own token in the future, and the other is the spillover effect of Derps' influence. This is a Free Mint project, and everyone might want to take a chance on a second leader.

Beardies

The official NFT project of the Paintswap trading market on Sonic, with a total of 2048 pieces, and the current floor price is 1670 $S, approximately 950 USD.

This NFT series can receive 3% of the daily transaction fee income from the Paintswap trading market as dividends. Additionally, there is a project called Colorful Coal that was previously airdropped to Beardies, which can also receive 1% of the daily transaction fee income from the Paintswap trading market as dividends.

METRONIX

The official NFT series issued by the DEX Metropolis on Sonic, with a total of 777 pieces, and the current floor price is 1120 $S, approximately 640 USD.

This series will receive airdrops of the native token $METRO from Metropolis.

Umans

A pure art series, representing the narrative of the first NFT series on Sonic. With a total of 998 pieces, the current floor price is 179 $S, approximately 100 USD.

Conclusion

It can be seen that the popular projects on Sonic are mainly "equity-type" NFTs, and the total supply is relatively small. The future development of these projects largely depends on the capabilities of the project parties behind them and the overall Sonic ecosystem. A smaller total supply means that during good market conditions, prices may rise sharply, but during poor market conditions or if the project or ecosystem does not develop well, it may face a double whammy of price and liquidity.

Therefore, the most certain Sonic NFT at present is probably still Derps, and it is unlikely that a competitor will emerge to challenge its leading position in the short term.

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