Fractals FSIC and ASIC, are we buying computing power or attention?

There is less than a week left until the Fractal mainnet launch on September 9. From the beginning, everyone was looking forward to whether they could replicate the new asset craze of last years Inscription on Fractal, and attention has turned to two other points. The first is mining to grab the first mine, and the second is the new infrastructure related to OP_CAT.

Since the latter still needs to wait for some time after the mainnet is launched, it can be said that the biggest and most direct hot spot related to Fractal is mining. Among the NFT projects related to mining, FSIC and ASIC have the highest attention.

The progress of both projects was not very optimistic at the beginning of the release, but they suddenly accelerated until they were completed. Lets take a look at FSIC first.

The FSIC was issued at a price of 0.0048 bitcoins, with a total of 3,800. After the minting began on August 29, it lasted until the final public sale stage to complete all sales.

In the early stages, this project encountered a lot of doubts, such as the team remained anonymous and there was only a photo of a mining machine with the word FSIC on it.

And whether the price of FSIC is too high compared to renting the same computing power.

But the reason why I still minted 2 FSICs at that time was precisely because the project was questioned too much at the time. Before the launch, FSIC had responded to the questions, and the most important thing was to clarify that the source of its computing power was a one-year lease from the Solo Fractal mining pool. As long as the project does not run away after the launch but really does things around computing power, this kind of mining NFT will have its advantages:

For general players, computing power leasing has certain understanding and operation thresholds, such as how to buy it cost-effectively, who to buy from, etc. Some leases even have consumption thresholds, and a certain amount of computing power must be leased to start.

Renting computing power by yourself is more of a one-way long $FB, especially the higher the popularity of mining, the more expensive the computing power rental price will be, but it is equivalent to being locked and unable to cash out in real time. For NFTs that can be traded in the secondary market, although the computing power of a single NFT may not seem high, the extra price can be regarded as a liquidity premium, and you can sell your computing power to other players at any time.

Therefore, the essence of mining NFTs is more like attention investment, rather than how much can be mined. The key point is that the team does not take the money and runs away, and can buy and sell at any time.

Because FSIC once reached the floor price of 0.01 Bitcoin after all sales, which doubled the minting price, ASIC also began to accelerate when there were more than 1,000 remaining, and finally completed the sale of all 3,150 mining NFTs at a price of 0.0062 Bitcoin. The differences between this project and FSIC are:

– $FB mining will start one week after the Fractal mainnet is officially launched (ideally), while FSIC will start on the first day of the mainnet launch. Since they actually buy the mining machines themselves, it takes time to deploy new mining machines.

– The average computing power of a single ASIC NFT will reach 17 TH/s, while FSIC is 7 TH/s.

– The $FB mined by FSIC will be given in full, and ASIC will give 90%. FSIC is currently voting in the community whether to charge 1% to 2% of the revenue to incubate new projects. Currently, the option of charging 2% $FB has gained an overwhelming advantage, which shows that the community is still relatively strong.

– ASIC team is real name, FSIC team is anonymous.

The important game points are the first two points. Although the average single NFT computing power of ASIC is more than twice that of FSIC, mining will not start until a week later than FSIC, and the first week is the most critical. At present, we cannot see how the market will react to these two differences in price, because ASIC will not list its entire collection on Magic Eden until tomorrow. However, the current floor price of FSIC on Magic Eden is basically stable at around 0.007 Bitcoin, which is still higher than the casting price of ASIC. Therefore, the editor is optimistic that the casters of ASIC will be able to get benefits at the beginning, but whether the advantage of computing power difference will be fully realized in price remains to be seen.

This article is sourced from the internet: Fractals FSIC and ASIC, are we buying computing power or attention?

Related: When Cows Meet Cryptography: 4 Metaphors to Illustrate ZK, FHE, MPC, and TEE

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