The NFT sector is recovering, what other opportunities are there to participate?

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Recently, the floor price of Mad Lads has risen to more than 50 SOL, and the floor price of Pudgy Penguins has exceeded 20 ETH. The NFT sector has gradually recovered, and major project parties have also begun to take action. The Pudgy Penguins project has issued PENGU tokens, and Milady Cult has announced that the pre-sale of the Meme project CULT has been TGE. In addition to NFT, what other opportunities are there to participate? This article will take you through the recent changes in the NFT sector.

NFT chain data differentiation

Although NFT sales have rebounded significantly recently, with NFT sales in November increasing significantly compared to October, most of them were achieved through Ethereum. Compared with the obvious recovery of the ETH NFT sector, the Solana NFT sector is still mediocre, and the NFT sector on the Polygon chain has not seen significant fluctuations. This round of NFT recovery may be due to the overflow of Ethereum liquidity. According to CryptoSlam data, the CryptoSlam ETH NFT Composite Index, which measures the performance of the ETH NFT market, has rebounded by more than 50% in the past three months. The Solanan NFT Index has hardly fluctuated in the past three months, with an increase of only about 2% in the past 30 days.

In addition, there is a serious data differentiation among NFT projects. Blue-chip projects have a good increase in the bull market. After the NFT data rebounded, blue-chip NFT projects often took the lead. After the NFT rebounded, CryptoPunks was the first to lead the NFT market, with sales exceeding US$49 million in 30 days, a month-on-month increase of nearly 400%. Even in a bear market, blue-chip NFT projects such as Milady, Pudgy Penguins, and Mad lads will receive airdrops from various popular projects. NFT projects that performed poorly have long lost liquidity in the bear market.

New opportunities for NFT projects

गुदगुदे पेंगुइन

On December 6, Pudgy Penguins announced its coin issuance plan this year. The total supply of PENGU is 88,888,888,888. The largest share (25.9%) of the overall distribution was given to the Pudgy community; 24.12% was given to other communities, and FTT Holders also reserved 0.35%. The scale of PENGUs token airdrop is quite considerable. In addition, Abstract Chain may also airdrop tokens for Pudgy Penguins holders. On the day the news was announced, the price of Pudgy Penguins NFT rose, with a single-day increase of more than 15%, and the transaction volume increased by 3-5 times. FTT also rose sharply as a result.

Currently, the highest value of the fake PENGU tokens issued on the Solana chain has reached 12 million US dollars. The valuation of PENGU tokens is still far from the 1.8 billion FDV of APE in the same track. In addition, the current market value of MFER is also 32 million US dollars. The airdropped tokens of PENGU may become a big deal again.

Milady

On December 9, Milady Cult announced that the pre-sale Meme project CULT released by Milady founder @CharlotteFang 77 has conducted TGE. The Milady project announced the pre-sale of Meme token CULT as early as June this year. At that time, the pre-sale lasted for 7 days and raised a total of 5,861.8 ETH, worth about 20.53 million US dollars.

The total supply of Milady Cult tokens is 100,000,000,000. After it went online on December 9, its market value hit US$1 billion within 1 minute, and then quickly fell back to US$500 million 5 minutes later. It is currently stable at around US$700 million.

NFT infrastructure projects still have room for growth

Compared with ETHs NFT infrastructure, there is still a lot of room for the Metaplex project on Solana. Metaplex is Solanas decentralized NFT infrastructure, which mainly creates NFT protocols by providing development tools and open standards for digital asset issuance and on-chain ownership to the NFT community. The protocol consists of four smart contracts that constitute the contract ecosystem. At present, the types of क्रिप्टो assets supported by Metaplex are no longer limited to NFT, but also include FT, RWA, game assets, DePIN assets, etc.

The current FDV of MPLX is only 350 million, which still has a lot of room to grow compared to TNSRs 780 million. In addition, Binances current projects are concentrated on low-market-value value coins, and most of them are infrastructure-type. As Solanas NFT infrastructure, MPLX is no longer limited to NFT, but has also occupied a certain position in the issuance of various assets. It is in the upstream ecological niche of asset issuance and management, and is still in a relatively undervalued state.

Is the recovery of the NFT sector a flash in the pan or can it maintain its popularity? How long can the gimmick of issuing coins alone attract market attention? The NFT project itself has strong meme attributes and communication characteristics, and has a strong community cohesion and atmosphere. Perhaps combining innovation with more diverse assets will further open up imagination space for the NFT sector.

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