In our newest installment of Blue Chip NFTs 101, we dive into NFTs off the Ethereum chain; We are going to work our manner by way of the highest 10 blockchains and their largest NFT initiatives whereas highlighting essential notable initiatives on Ethereum.
In our first article of the sequence, we lined the exceptional rise of Moonbirds, the newest NFT mission that seemingly rose to blue-chip standing nearly in a single day. Let’s have a look
The Fundamentals: Solana’s NFT Standing
Solana has had its fair proportion of critics in recent times – the chain has had durations of downtime and is commonly criticized for having extra centralized qualities in comparison with comparable and competing chains. The goal of this description is to not consider the character of the chain, however to deal with one of many largest NFT initiatives within the ecosystem. We’ll go away an in-depth have a look at Solana’s blockchain construction for one more day, as a result of one factor leaves few questions unanswered – Solana was an early riser that was an Ethereum competitor providing an NFT ecosystem with reasonably priced gasoline costs.
Proper now, the recent trending matter in Solana NFTs is undoubtedly Okay Bears – a current PFP NFT mission that has been gaining traction because the Solana ecosystem has grown.
DeGods: Present standing
DeGods have by far the very best reserve worth in Solana’s NFT ecosystem, constantly commanding north of 200 SOL whereas routinely holding a prime 5 place in every day quantity. The ten,000 mint mission has a market cap that accounts for almost 20% of Solana’s complete NFT market cap, in response to information from Solana NFT aggregator Hyperspace.
DeGods has a bit extra standing within the Solana ecosystem, however like several early riser, standing will be troublesome to take care of when challengers seem. The largest challenger over the previous few weeks has undoubtedly been Okay Bears, who’ve been the face of Solana on communities like NFT Twitter and have blown away Solana quantity over the previous week with the shopping for and promoting of over $40 million value of Okay Bears. DeGods definitely have the next cap, however having lower than 10% of that quantity over the identical interval means that Okay Bears could possibly be aiming for the highest spot because the Solana panorama continues to develop.
Solana (SOL) doesn’t have the legacy of Ethereum in NFTs, however the blockchain has seemingly secured second place amongst NFT communities. | Supply: SOL-USD on TradingView.com
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Current Buzz: A Main Acquisition
What’s DeGods doing to solidify its positioning as Solana’s “blue chip”? It is simpler stated than accomplished, however the DeGods group lately precipitated a stir and grabbed some headlines by spending round $625,000 on a group takeover in Ice Dice’s “BIG3” basketball league. Bringing 3×3 half-court basketball with a twist, the league has repeatedly hosted ex-NBA athletes and ex-collegiate stars (a few of whom have even returned to the NBA degree after showing for the BIG3, a la Joe Johnson).
DeGods purchased 25 NFTs of BIG3’s “Killer 3s” group for $25,000 apiece, in a call made by the NFT group’s DAO late final month. The next steps could possibly be nearly as efficient. An analogous transfer was introduced over the weekend by music mogul (and well-known crypto fan) Snoop Dogg, who has teamed up with PayPal co-founder Ken Howery to purchase 25 NFTs of his personal, this group for league group “Bivouac”. This BIG3 sponsorship mannequin is especially distinctive and the league has launched its personal Possession Mannequin Twitter web page in addition to a devoted white paper detailing how the sponsorship mannequin works. Crypto and blockchain expertise is rampant within the BIG3, and DeGods can confidently name itself “early”.
There’s much more on the horizon for DeGods, too. In a current State of the Union speech, the group addressed a local token (and among the skeptical feedback surrounding it), occasions, and a particular clip in regards to the logic behind the BIG3 group’s DAO buy.
Little is for certain within the NFT panorama, however DeGods appears effectively positioned to be a everlasting a part of Solana with its present engaged group and lively, aggressive strategy.
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Featured picture from degods.com, charts from TradingView.com The author of this content material isn’t affiliated or affiliated with any of the events talked about on this article. This isn’t monetary recommendation. *The writer of this content material doesn’t personal the NFTs talked about on this article, SOL, or some other Solana-based NFTs on the time of publication. This content material is created for academic and informational functions solely.