Thread by @DermanCapital

1/ #NFTs are showing the power of an idea and movement among a group of people with a similar ideology or passion. And #NFTs becoming a symbol by which these groups identify themselves in the digital world

2/ It may be hard to see the value here but imagine being buying digital memorabilia of your favorite sports team vs a team you have never heard of. I doubt you would be as price sensitive for something that you identify with.

3/ And these #NFT communities are lively! Most notably is the @BoredApeYC. They have a roadmap and currently the floor price is ~39 ETH minimum (~$120k). To be a part of this, you need to own a Bored Ape NFT

https://twitter.com/BoredApeYC/status/1440392967437488134?s=20

4/ But in general, the market is super active and even now @twitter is looking into integrating #NFTs with Twitter profile pictures. A great move as many on #Crypto Twitter have #NFTs as their profile picture and they have a strong emotional connection to some of their NFTs

5/ @opensea, the largest #NFT marketplace, has seen active users go from ~400 in September 2020 to ~30,000 today

6/ Most valuable #NFTcollections on $ETH are CryptoPunks (@larvalabs), @BoredApeYC, and Fidenzas (@tylerxhobbs) though I am sure I am missing a lot more big ones. Below are top collections by volume on @opensea (CryptoPunks had 135k ETH (~$400mm) in volume the past 30 days!)

7/ @AxieInfinity is a play-to-earn game built on top of the #Ethereum network with the largest discord globally with 800k members. It has sold the most $ETH NFTs of anyone with ~64k in sales

Source: @DappRadar

8/ And new collections are coming out as a community supporting a cause. One is supporting Mental Health Awareness ( @BlankFaceNFT)

https://twitter.com/BlankFaceNFT/status/1439790589466316806?s=20

9/ @SnoopDogg is getting into the NFT game too. Who said NFT’s don’t have utility…
decrypt.co/81720/snoop-do…

10/ But all this activity ignores the biggest #NFT news which is the NFT madness on #Solana. NFTs were not even possible last year for #Solana but they started over the past several months. Total market cap of $360mm! #SolanaNFTs

11/ And look at the total value for some of these collections! @DegenApeAcademy, @SolanaMBS, @FraktArt, @AuroryProject, @galacticgeckosg, and @PunksOnSolana near the top. @galacticgeckosg came out last week and already have a value of $21mm

12/ A look at these purchases by a London Hedge fund called @MoonrockCapital!

https://twitter.com/MoonrockCapital/status/1436700043843706883?s=20

13/

https://twitter.com/MoonrockCapital/status/1436741263814975489?s=20

14/ In $SOL, so many #NFTs are coming out that it hard to keep track, but here is a quick list of others not mentioned in the top 10 of @solanalysis

@DegenBoldBadger
@fancyfrenchnft
@TheCavemenClub
@SolanaDogeNFTs
@solsneks
@PandaFraternity

And so many more

15/ These NFTs are doing airdrops, the communities are growing, and some are even building games (@Aurory). And if you jump in the discords, you’ll see some #NFT communities thriving, where the community builds on top of what the initial team has done

16/ And some #NFTs are getting a huge following. @galacticgeckosg has a huge following and large #crypto twitter accounts are or were repping them, including @Pentosh1, @TraderKoz, @CryptoKaleo , @Cryptanzee, etc.

17/ There are even #NFTs on $AVAX, with much less transaction than $SOL but nonetheless $AVAX is extremely promising. One being @AvaxApesNFT

18/ And #Cardano has just completed its Alonozo hard fork to add smart contract capability. And #NFTs are coming now on #Cardano. @CNFT_IO is the first #CardanoNFT marketplace

19/ Oh and now there are #NFTs on $ICP (@dapperlabs) called @IcPunks

20/ #NFTs are gaining mass traction and are a major driving force behind current adoption and demand

21/ Back to thread outline

https://twitter.com/DermanCapital/status/1442251449556156416?s=20