Research Summary
The report discusses the launch of 1155tech, an NFT platform on Canto, and its unique key model. It also provides a market update, highlighting the performance of BRC tokens, Solana inscriptions, and the Solana meme coin BONK.
Key Takeaways
1155tech’s Unique NFT Model
- Introduction of 1155tech: The report discusses the launch of 1155tech, an NFT platform on Canto. The platform uses a unique key model where users purchase keys representing different NFTs. These keys can be burned to mint the associated NFT and vice versa.
- Platform Fee and Incentives: A 9% platform fee is divided equally among the Creator, Key Holders, and Core Devs. This aligns incentives well, with buyers and sellers effectively paying the NFT royalty to access liquidity and future cashflows.
- Liquidity Solution: 1155tech attempts to solve the royalties and liquidity problem inherent to traditional NFTs by locking NOTE into the bonding curve as a key is minted, ensuring liquidity is always available for that key.
Market Update
- BRC Tokens: The report highlights the performance of BRC adjacent tokens on Ethereum, notably MUBI, which has had a 10x run over the last two weeks.
- Solana Inscriptions: Solana inscriptions, particularly SOLS, have gained significant traction. SOLS, a collection of 21,000 inscribed SPL tokens, has a market cap of $132m and an 84 SOL floor price.
- Solana Meme Coin BONK: The report notes the parabolic rise of Solana meme coin BONK, which has seen a 100x increase from a $20m to a $2b market cap in just two months.
Actionable Insights
- Monitor 1155tech’s Performance: Given its unique model and attempt to solve the royalties and liquidity problem, it would be beneficial to keep an eye on 1155tech’s performance and user adoption.
- Track BRC Tokens: With the recent surge in BRC tokens, particularly MUBI, tracking their performance could provide insights into market trends and investor sentiment.
- Assess Solana Inscriptions: The popularity of Solana inscriptions, especially SOLS, suggests a growing interest in this area. Assessing these trends could offer valuable insights into the evolving crypto market.
- Watch Meme Coins: The rapid rise of Solana meme coin BONK underscores the volatility and potential of meme coins. Monitoring these coins could provide insights into market dynamics and investor behavior.
