What is the performance of blue-chip NFTs that have received large amounts of financing in the crypto bear market?

Original title: "What's the plan after the large-scale financing of the blue-chip NFT project?" "

Original author: Babywhale, Foresight News

In the past month Over time, several blue-chip NFT projects have received tens of millions of dollars or even over 100 million dollars in financing, which has attracted a lot of attention in the market. As the "template" of blue-chip NFT projects, Yuga Labs, the development team of Bored Ape Yacht Club (BAYC), announced a large amount of financing in March this year, and brought a phenomenal level in the casting of metaverse blocks in early May. Performance. And what is the plan of the new blue-chip NFT project that allows many institutions to spend real money during the bear market?

BAYC and Otherside

The Bored Ape Yacht Club (BAYC) series of NFTs launched in May 2021 can be regarded as one of the most successful NFT projects in the entire Web3 field. From the casting price of 0.08 ETH in May 2021 to the peak of the floor price of over 150 ETH in April 2022, the value of the NFT itself has increased by nearly 1900 times in the past year.

In the process of rising NFT prices, Yuga Labs successively launched MAYC and BAKC series of NFTs, APE Token airdrops, Metaverse Otherside, Metaverse plot Otherdeed, etc. The content constantly stimulates the nerves of holders and the market.

At the end of March this year, Yuga Labs, the parent company of BAYC, announced the completion of a new round of financing of US$450 million at a valuation of US$4 billion. This round of financing was led by a16z, Animoca Brands, Coinbase and MoonPay participated. Then, on May 1, the NFT Otherdeed of the Metaverse Otherside started casting and public sale. The NFT casting contract destroyed 26,000 Ethereum in just one hour, and the Gas fee once soared to nearly 10,000 GWei. May 1, 2022 will be the highest peak of Ethereum's daily destruction since the implementation of EIP-1559.

Although it has experienced a carnival, in fact the NFT market is not optimistic. According to Bloomberg, Dune data shows that the volume of NFT transactions in September has dropped by 97% compared with the data in January this year.

Does the new blue chip have a new narrative?

At the end of August, after DigiDaigaku announced $200 million in financing, Moonbirds, Doodles , Azuki have followed the pace. After the highlights of Yuga Labs and BAYC, what plans did these blue-chip NFTs reveal? (The following items are sorted by announcement date)

Doodles

On September 13, Beijing time, Doodles announced that it had completed a financing of US$54 million at a valuation of US$704 million, with investors including the co-founder of Reddit Alexis Ohanian's Seven Seven Six, Acrew Capital, FTX Ventures and 10T Holdings, among others.

After the financing news was announced, Doodles announced on its official website some information about Doodles 2, which was announced in June. Doodles 2 supports custom styling of Doodles NFT images. The original image can be decorated with different clothing and accessories NFT. The decorated NFT image can be saved on the chain without Gas fees.

As for these decorative NFTs, they are the "Genesis Box" that Doodles completed the auction in early July. At that time, Doodles raised 10,160 ETH through auction. As for the plans after Doodles 2, the team has not disclosed yet.

Azuki

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On September 22, Beijing time, informed sources revealed that Chiru Labs, the Azuki development team, will complete a US$30 million Series A round of financing at a valuation of US$300 to US$400 million, but the details of the financing have not yet been announced. finalized.

Since Azuki completed the airdrop of BEANZ Official (originally named Something Official) last year, in addition to fragmenting Azuki #40 into "Bobu" in March this year to explore In addition to governance collective governance, there are not too many actions on project progress.

In May of this year, Azuki founder Zagabond issued a document acknowledging that the team had operated three projects, CryptoPhunks, Tendies, and CryptoZunks in the past year, but none of them were successful . The price of Azuki NFT has also been greatly affected.

According to the information on Azuki's official website, Azuki currently displays illustrations with the theme of "streets" and "relics" on the "World" page, but the theme and project of the illustrations are not clear How does future planning relate.

In addition, the Azuki team currently has no specific plans to establish a metaverse or develop games, but it said that the Azuki team has experience in the game industry, but Making games is very difficult. If Azuki chooses to make games, he will be the "coolest".

Moonbirds

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In the early morning of August 31, Beijing time, PROOF, the parent company of Moonbirds, announced the completion of a US$50 million Series A financing, led by a16z, Collab+Currency, Flamingo DAO, SVAngel, Vayner Fund and Seven Seven Six and others participated in the vote. PROOF also released details about PROOF's third NFT Moonbirds Mythics: the total number of Moonbirds Mythics is 20,000, and it is planned to be launched in early 2023. In addition, PROOF also revealed that the release of the same name Token more details will be released sometime in 2023.

According to Moonbirds official website information, PROOF's next plan, code-named Highrise, is to build a metaverse, and PROOF describes the metaverse as a "digital ghost town". However, the official did not announce other details about the Metaverse. At least on the surface, the new NFT series, Token The gameplay of Metaverse and Metaverse still inherits the successful routine of Yuga Labs, and it is unknown whether there will be any unique innovative content in it.

DigiDaigaku

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On the evening of August 29th, Beijing time, DigiDaigaku parent company Limit Break completed two rounds of financing totaling US$200 million. The two rounds of financing were led by Josh Buckley, Paradigm and Standard Crypto. Participating parties include FTX, Coinbase, Positive Sum, Shervinator, and Anthos Capital, among others. Limit Break said that the newly developed game will introduce the Free to Own (F2O) game mode with reference to the traditional free game mode.

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According to the information on DigiDaigaku's official website, DigiDaigaku has now opened the NFT synthesis function, and DigiDaigaku Spirits holders can synthesize DigiDaigaku Heros series NFTs. Among them, using DigiDaigaku Spirits NFT alone, and using DigiDaigaku Spirits NFT with matching and non-matching DigiDaigaku NFTs will synthesize DigiDaigaku Heros NFTs of different qualities.

Currently DigiDaigaku Heros NFT has been launched, but the picture has not been opened yet, so it is impossible to know the true appearance of "Hero". However, there are many cases of the N image of the Japanese two-dimensional theme and the success of games in Web2. The massively multiplayer online game developed by Limit Break will be a game with a story background that is expected.

To sum up, except for DigiDaigaku and Moonbirds who have clarified the game and metaverse plans, the other two blue-chip NFT projects that have received large amounts of financing have not given A clear plan for future development. But the stories that make institutions willing to invest tens of millions or even hundreds of millions of dollars in a bear market must not be just simple progress such as airdrops and dressing up. In addition to the relatively easy-to-think development ideas such as metaverse and games, these PFPs may have more far-reaching layouts in terms of brands, physical products, etc.

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