S4mmy.eth Profile picture
Jul 25 13 tweets 5 min read
We continue to see innovation in the space, particularly around methods of minting #NFTs

ERC-721R from @elie2222 refund contracts was a recent innovation

But let's take a look at this novel idea from @0xBasset & @rennsport_eth for opensea.io/collection/off… 👇🧵 (1/11)
1/Projects minting out immediately have been a continual problem, with bots iterating to adapt to new contract mechanics

We can see bots that disseminate Ether amongst 100s of addresses & then execute the mint simultaneously to bypass the "one per wallet" restriction
2/Collections have attempted:

- Dutch auctions,
- Refunded dutch auctions or
- Raising mint prices to make it prohibitively expensive for whales to mint too many in one go

But where there is secondary volume, then the profit tends to sufficiently incentivize the botting
3/So additional steps put in place can help prevent the existing market bots from working and that's what the "Office Hours" project has done

Let's take a look👇
4/The project was mint from contract, which is no different from a typical mint but there were additional parameters - a mintEven or mintOdd function
5/How does the person minting include this additional step?

They need to convert the final 4 digits of their wallet address from a hexadecimal to numeral using a converter

A manual step to prevent pesky automated bots from minting at volume, example👇

6/You then paste this converted number into the verification box & hey presto you can mint up to the max amount per the contract (2 in this case)
7/This was an interesting experiment!

While the instructions & contract details were circulated amongst select alpha groups (a form of allowlist) it minted out within 10 minutes, before public

It generated 264Eth volume in < 30 mins, from a free mint!
8/This was a refreshing change from the typical mint and suspect this will now set a new trend for future mints

Different iterations will likely have an impact on bot pass NFT prices as they will be required to continually change for hyped mints otherwise become obsolete...
9/Additionally, there was no gas war!

I didn't see gas go above 40 Gwei...

A refreshing change from the catastrophic failures which have seen millions of USD worth of Ether sucked out of the NFT market

The latest in May - the nail in the coffin on this Opensea volume chart
10/Ingenious innovation & great to see developers think outside of the box to find sustainable methods of launching NFT projects

I hope this sets a precedent for projects to follow

Thanks for your contributions to this space @0xBasset & @rennsport_eth - keep up the good work🤝
11/For the instructions please refer to the following link 👇

Disclaimer: I was unable to mint in time but have just been sent 2 "Office Hours" NFTs since producing this thread🤝

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More from @S4mmyEth

Jul 25
#RealEstate sales are cyclical - millions of transactions worth trillions of USD processed per annum globally

Settlement times can be lengthy/laborious

#Blockchain & #NFTs solve this through immutability and fractional ownership

This @OriginsNFT article takes a closer look👇🧵
According to @Savills last valuation, the global real estate property valuation was around $326.5T in 2020

The real estate market can be broken up into three segments:
Focusing on the largest segment (residential) - according to @CoreLogicInc there were 7 million residential units sold in 2021, totalling $2.8T of transaction volume
Read 32 tweets
Jul 23
The @ethereum merge is one of the most anticipated events in #crypto

It’s expected to increase security, reduce latency and improve energy efficiency

Many are concerned that it will cause adverse price action for Ether

This thread examines the bull case🧵👇
Disclaimer: I own Ether.

Ethereum launched on July 30th, 2015 using a Proof of Work (“PoW”) mechanism

This is the same method that Bitcoin uses to validate transactions

However, there are environmental concerns around the energy costs used by the miners
Ethereum plans to transition to PoS by Sept 19th, 2022

The chains are currently being run in parallel while the Beacon chain is tested

The following diagram (source: Ethereum.org) illustrates the recent transition well: Image
Read 26 tweets
Feb 24
What's @benbeath's @BattleFlyGame (BF) & why was it trending as #3 on twitter a few days ago?!

It’s the next generation in P2E gaming that ensures an equitable starting point for all participants. #innovative

Disclosure: I have one @EtherOrcs BF WL and intend to mint.

1/ BF is a P2E defi game being launched on the @TreasureDAO $MAGIC ecosystem.

After the success of Bridgeworld and @SmolBrainsNFT more projects are launching on Arbitrum and building out the @Treasure_DAO founders’ vision of creating a decentralised Nintendo for the Metaverse.
2/ @Treasure_DAO is the console.
BF is one of many cartridges.
$MAGIC is the lifeblood that pulls it all together.

Many will recall the NES, SNES & N64. The initial multiplayer, then expansion online and now this takes it to the next iteration in the technology evolution.
Read 23 tweets
Feb 23
@themetroverse is the “Sim City” NFT equivalent. It partially fits into that NFT Land category, but with real estate and a P2E game already developed.

Is it undervalued? IMO, Yes.

1/ Why buy an undeveloped NFT land when you can buy a ready developed one with a fully functional P2E game already rolled out?

After all the metaverse only has value through players adopting the land asset.

Disclosure: I own 2 Metroverse NFTs that are staked.
2/ Players strategically collect and trade city blocks to grow their economy and earn the $MET utility token.

The city overall score defines the $MET production. A score of 300 yields 300 base $MET per day.

$MET tokens can be used within the game economy to improve their hood.
Read 17 tweets
Feb 22
@skuxxverse (SV) is effectively an @nftworldsNFT (NFTW) fund. The price should correlate perfectly to the $WRLD emissions from airdrops and rewards.

Is SV undervalued? IMO the 0.65 Eth floor is worth the potential $50.4k USD estimated projection per table 6.

Let’s dive in. 🧵
1/ Disclosure: I own 2 SV passes.

How does SV work?

SV acquires NFTW Land with the intention of distributing the $WRLD tokens back to SV pass holders. So we can fair value the pass as the present value of future $WRLD cash flows.
2/ The token distribution can be established from staking, rental, P2E gaming rewards and airdrop claims.

At 22/2/22 SV owns 27 NFTW land parcels and intends to accumulate future land using royalties from secondary sales. See holdings: 0xF78F59412c9F9cB57227a925018565A3f0CBBc9d
Read 24 tweets
Feb 1
NFT Project Liquidity Pools (LP)

LPs are important for the long term success and stability of a project.

We will assume the utility for the token is related to gaming, as is the case for many NFT projects.

A thread:
1/ What is a LP:

LPs are a collection of crypto assets locked within a smart contract. This is made possible through Automatic Market Makers (AMM). An AMM enables peer to peer trading directly through a smart contract.
2/ In traditional finance this liquidity is provided by a centralised authority such an exchange (through the traditional order book model) or a bank. They typically earn a transaction fee % which is similar to the % fees earned on volume traded by liquidity providers.
Read 25 tweets

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