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In our newest installment of ‘Blue Chip NFTs 101,’ we’re taking a dive into non-Ethereum chain NFTs; we’ll be working our means by prime 10 blockchains and their largest NFT initiatives, all whereas nonetheless highlighting main noteworthy initiatives which might be on Ethereum.
In our first piece within the collection, we coated the exceptional rise of ‘Moonbirds,’ the most recent NFT challenge that has seemingly skyrocketed to blue chip standing virtually in a single day. Let’s check out
The Fundamentals: Solana’s NFT Standing
Solana has had it’s fair proportion of critics in recent times – the chain has had durations of intermittent downtime, and it’s typically criticized as carrying extra centralized qualities relative to comparable and competing chains. The target of this write-up isn’t to guage the character of the chain, however fairly to hone in on one of many largest NFT initiatives within the ecosystem. We’ll go away a deep dive of Solana’s blockchain construction for an additional day, as a result of one factor leaves little questioning – Solana was an early mover in being an Ethereum competitor that supplied an NFT ecosystem with reasonably priced fuel costs.
At present standing, the recent trending matter in Solana NFTs is undoubtedly Okay Bears – a more recent PFP NFT challenge that has gained traction because the Solana ecosystem has grown.
DeGods: Present Standing
DeGods have far and away the very best ground value within the Solana NFT ecosystem, constantly commanding north of 200 SOL whereas routinely sustaining a prime 5 place in every day quantity. The ten,000 mint challenge has a market cap that encompasses practically 20% of the full Solana NFT market cap, in keeping with information from Solana NFT aggregator Hyperspace.
DeGods has a bit extra of a ‘legacy’ standing within the Solana ecosystem, however as with all early mover, it may be troublesome to keep up the standing as challengers emerge. The largest challenger in current weeks has undoubtedly been Okay Bears, which have been the face of Solana on communities like NFT Twitter, and has blown away Solana quantity over the previous week with over $40M price of Okay Bears being purchased and offered. DeGods definitely have the next ceiling, however having lower than 10% of that quantity over the identical timeframe means that Okay Bears could possibly be gunning for the highest spot because the Solana panorama continues to develop.
Solana (SOL) would not have the legacy standing in NFTs that Ethereum has, however the blockchain has seemingly secured the #2 spot in relation to NFT communities. | Supply: SOL-USD on TradingView.com
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Current Buzz: A Main Acquisition
What’s DeGods doing to cement it’s positioning as a Solana ‘blue chip’? It’s simpler mentioned than performed, however the DeGods neighborhood just lately made a splash and made some headlines by shelling out roughly $625,000 for a crew acquisition in Ice Dice’s ‘BIG3’ basketball league. The league brings 3×3 half-court basketball with a twist, and has constantly hosted ex-NBA athletes and ex-college stars (a few of which have even returned to the NBA ground after showing for the BIG3, a la Joe Johnson).
DeGods bought 25 NFTs of the BIG3’s ‘Killer 3s’ crew at $25,000 a chunk, in a call made by the NFT neighborhood’s DAO late final month. Nearly equally impactful could possibly be the strikes that comply with swimsuit. Introduced over the weekend was the same transfer from music mogul (and well-known crypto fan) Snoop Dogg, who teamed up with PayPal co-founder Ken Howery to buy 25 NFTs of their very own, this crew for the league crew ‘Bivouac.’ This sponsorship mannequin from the BIG3 is particularly distinctive, and the league has opened up it’s personal Possession Mannequin Twitter web page, in addition to a devoted whitepaper outlining how the sponsorship mannequin operates. Crypto and blockchain know-how is working rampant by the BIG3 and DeGods can safely take into account themselves ‘early.’
There’s a lot extra on the horizon for DeGods as nicely. In a current ‘State of the Union‘ deal with, the crew addressed a local token (and a number of the feedback of skepticism round it), occasions, and a devoted clip across the logic behind the DAO buying the BIG3 crew.
Little is definite within the NFT panorama, however DeGods is seemingly well-positioned to be a Solana staple with it’s present engaged neighborhood and lively, aggressive strategy.
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Featured picture from degods.com, Charts from TradingView.com The author of this content material shouldn't be related or affiliated with any of the events talked about on this article. This isn't monetary recommendation. *The author of this content material doesn't personal any of the NFTs talked about on this article, nor do they maintain SOL or some other Solana-based NFTs at time of publishing. This content material is produced solely for instructional and informational functions.
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