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With Blur's airdrop on the horizon, what other NFT concept tokens are worth watching?

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Markets, lending, fragmentation, there are potential stocks on every track

NFT Marketplace BLUR's native Token $BLUR will officially go live on February 14th. With $BLUR in the spotlight, will its popularity spread to other NFT concept tokens? Let's take a look at what other NFT concept tokens are worth paying attention to.

NFT market

x2y2

x2y2 launched and issued its own native Token $X2Y2 in February 2022. Over the past 30 days, x2y2 has generated over $80 million in sales, ranking third behind OpenSea and Blur. In addition to the NFT market business, x2y2's NFT lending business is also thriving. In just 4 months, the number of loans exceeded 5,000 and the total amount of loans exceeded 20,000 ETH.

In the past month, the $X2Y2 market has performed well, with a cumulative maximum increase of more than 400%.

LooksRare

LooksRare launched and issued its own native Token $LOOKS in January 2022. LooksRare, along with the x2y2, was expected to be an OpenSea killer, and the two are neck and neck. But LooksRare is now slightly behind the competition. In the past 30 days, LooksRare's market has seen about $40m of turnover, half that of the x2y2.

Still, $LOOKS like a pretty good month for the market, up more than 200% at its peak.

Trove

Launched in June 2022, Trove is the TreasureDAO ecological NFT market and the largest NFT market on Arbitrum. There are TreasureDAO ecological chain ToursThe BeaconThe success of the recent Arbitrum ecology hot, so that Trove is getting more and more attention.

Trove is not independent in its positioning, it is the NFT market and a part of the TreasureDAO ecosystem. Therefore, Trove has no original Token, and NFT in the market is basically game NFT in the TreasureDAO ecosystem, which is mainly traded with Token $MAGIC in TreasureDAO. Currently, the total volume on Trove is close to 120 million MAGIC. Since $MAGIC listed Binance, the cumulative peak has been more than 400%.

SudoSwap

SudoSwap is the first NFT DEX to implement NFT AMM. Over the past 30 days, Looksrare's market has seen a total turnover of about $2.5 million. Although much smaller in volume than the traditional NFT market, its groundbreaking narrative is unmatched.

However, SudoSwap still has to watch out for Uniswap with an integrated NFT aggregator, as the two have been fairly close in volume over the past 30 days.

The governance Token for SudoSwap is $SUDO. On February 7th, the community proposal to make $SUDO transferable failed, so $SUDO is still not tradable. However, $XMON is tradable, locking in 1 $XMON can yield 10000 $SUDO per month. The current price of $XMON is around $18,000, and some players value $SUDO at $XMON.

HadeSwap

HadeSwap is the NFT DEX on Solana. Although there are Tensor competitors on Solana, HadeSwap beat them to Token $HADES. At present, the total turnover on HadeSwap has exceeded 1.9 million SOL.

NFT lending

NFTfi, BendDAO, Arcade, JPEG'd and Drops are at the forefront of the NFT lending circuit. NFTfi and Arcade have not yet issued tokens and still have the opportunity to acquire airdrops through interaction.

BendDAO

Launched in March 2022, BendDAO quickly gained popularity with its peer-to-pool lending model. Compared with the "peer-to-peer" mode of NFTfi, the NFT lending platform in the "peer-to-pool" mode assumes the pricing responsibility, well lowers the use threshold of lenders (only need to deposit into ETH), and greatly improves the efficiency of transaction matching.

Currently, BendDAO has over 84,000 ETH in its reserve pool, of which over 63,000 ETH are available. According to the value of each collateral fed back by its prediction machine, the total value of the current collateral exceeds 50,000 ETH. At the head of the NFT lending circuit, BendDAO's original Token of $BEND has surged over the past month, with cumulative gains of more than 700%.

JPEG'd

Launched in November 2021, JPEG'd is a peer-to-peer NFT lending platform. What makes JPEG'd unique compared to other "peer-to-peer" platforms is that in addition to playing the basic NFTfi layer of NFT lending, they are also very good at playing DeFi in NFTfi.

Users can obtain stable Token $PUSd or derivative ETH $pETH issued by JPEG'd by mortgaging NFT, and $PUSd and $pETH can be converted into corresponding original assets. It can also be used to provide liquidity to PUSd/3CRV and pETH/ETH pools on CRVS to earn revenue. JPEG'd DAO is a top 10 holder of CVX, using voting power to motivate pETH/ETH pools through CRV and CVX awards. In the end, the APY was up to 30 percent (according to official data at the end of last year) with an automatic retransmission tool provided by JPEG'd.

JPEG'd 还发行了 JPEG 卡 NFT，如果质押了某张具有「香烟」的 JPEG 卡，用户的 LTV 还可以额外提升 10%。

And so on, the result is that JPEG'd is really rich. According to official accounts, JPEG'd DAO has been profitable since its inception, holding nearly $30 million in stable tokens, about 8,400 ETH, 940,000 CVX, and a total value of nearly $43 million at the end of last year.

In the last 30 days, JPEG'd's native Token $JPEG has gained a cumulative maximum of more than 250%.

Drops

Drops is also a "peer-to-peer" model of NFT lending platform, featuring a loan to buy NFT function SweepMax, which can help users bring home the desired NFT with as little as 40% down payment. Of course, the NFT you take home is just a mapped version of the original, which will be dropped into the mortgage pool. With this mapped version of the NFT, the user can trade freely or get the original NFT after paying off the debt. There is no repayment period and interest is paid in Drops of original Token $DOP.

The $DOP over the past 30 days has been flat compared to JPEG'd, which is up only slightly.

NFT fragmentation

The logic of NFT fragmentation is simple, which is to convert NFT into fragmented ERC-20 tokens and make a profit by collecting the pool fees. The more influential players on this track are Fractional, NFTX and NFT20, Fractional did not send the Token.

NFTX

A layer of OHM mechanism is added to the original fragmented logic. NFTX loans 500 ETH to Floordaos to support Floordaos. NFTX LP holders can pledge their LPS to Floordaos to get $FLOOR, and Floordaos receive LP profits from the holders. This is, of course, a simplified logic, but FloorDAO is actually more interesting, as their governance can lead to "floor wars" (votes on which projects the Treasury should sweep up, and the latter's liquidity, once improved, will in turn boost LP profits. This "sweeping" money always causes price fluctuations for specific NFT projects).

The $NFTX is up about 200 percent at its best over the past 30 days, and the $FLOOR is up about 90 percent.

$NFTX

$FLOOR

NFT20

What is worth mentioning is the Muse DAO, the team behind NFT20, a DAO focused on the construction of NFT dApp. The first NFT lightning loan was from the Muse DAO. Not long ago, they launched a one-click NFT publishing tool based on SudoSwapLaunchRealize no need to write smart contracts under NFT sales.

NFT20 has no native Token, only the Muse DAO's $MUSE. The trend of $MUSE is very flat, hibernating.