NFT boom: UNI’s per capita delivery of iPhones is weak, and MEME per capita delivers suites

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01. DeFi cooling

Since 2020, the DeFi concept has been widely discussed. In June, as the token COMP of the decentralized lending protocol project Compound skyrocketed, the market value once surpassed Maker DAO on Ethereum, and the industry’s attention quickly focused on the DeFi track. Then, Aave, dYdX, Curve, Balancer, Kyber, Tokenlon, Bancor, and Uniswap, etc. all made efforts to push the popularity of DeFi to a climax. Many “old leeks” who had not had time to participate said they had broken their thighs.

NFT热潮:UNI人均送iPhone弱爆了,MEME每人送套房

However, since most of the DeFi products are based on Ethereum development, the Ethereum network is also in a state of congestion. Gas fees have soared, participants complained, and often a round of mining and withdrawal operations cost several hundred yuan.

However, with the increasing number of “earth dog projects” and the profitability of a large number of DeFi miners, the popularity of the DeFi track has dropped, and the currency price has been cut off. There are even many projects that have almost returned to zero. This so-called “DeFi carnival” investment feast was devastated and became a complete taker.

So, as the popularity of DeFi mining declines, how should the story of DeFi continue? Which track will the next good investment opportunity explode? Perhaps NFT is a “alternate player”.

02. NFT Relay

The full name of NFT is non-fungible Token. The Chinese name is non-fungible token, and it is also called non-fungible token. One of the goals pursued by ordinary cryptocurrencies is interchangeability. For example, Bitcoin is interchangeable. Sex is an important attribute of money. Without this, a commodity cannot become money. Although NFT is called a token in name, it is not currency in essence, but a unique asset expressed in tokens. The reason why it is expressed in tokens is to take advantage of the unique properties of the blockchain.

For example, our common Tokens (such as BTC, ETH, etc.) are homogenized tokens, and there is no difference between each BTC (just like two 100 yuan RMB), and they can be swapped and divided. The important feature of NFT is that each NFT has a unique and unique identification, which is not interchangeable, and the smallest unit is 1 and is indivisible.

NFT热潮:UNI人均送iPhone弱爆了,MEME每人送套房

For the industry, NFT is not a new concept. As early as 2011, Bitcoin’s Colored Coin (color currency) already had NFT presence. Until 2017, the most popular decentralized application, CryptoKitties, was the first phenomenal DApp with NFT attributes. Due to its unique ID and genetic attributes, the encrypted cat was extremely popular once it was launched. At that time, the most expensive cat sold for hundreds of thousands of dollars. Its popularity caused the first large-scale congestion in Ethereum. Everyone knows what happened afterwards. As the heat transfers to the public chain, NFT gradually cools down.

03. MEME room delivery

Recently, an NFT project called MEME has been on fire, which combines NFT with liquid mining. With the collapse of the DeFi project driving the market down, MEME bucked the market and rose 15 times. The highest rose above $1800, a record high. Since the currency initially only needs to fill in the telegram group to get the airdrop, the project team airdrops 355 MEME to each early telegram participant, the total amount of MEME is 28,000, of which 26,000 are from the initial community airdrop without threshold. Today’s 355 are worth 420,000 U.S. dollars, so MEME has won the title of “Airdrop First Coin”.

NFT热潮:UNI人均送iPhone弱爆了,MEME每人送套房

I just said a while ago that UNI gave the iPhone 12 to Amber’s biggest airdrop in the past two years, so the $420,000 given by MEME should be able to buy a house in a second-tier city!

The origin of MEME was originally derived from the community’s satire on the project “One-click DeFi Generation”.

1. A tweet called Jordan Lyall that created the “one-click generation of DeFi” UI was to spit out the status quo of the DEFI market. This is obviously a joke, but many people think it is true;

2. A few hours later, Jordan Lyall published a website that points to the display user interface and Telegram link. The chat in the telegram quickly ended, and the onlookers were confused but very enthusiastic.

However, within the next 30 minutes, a token called MEME was born;

3. The community decides to issue a token called MEME, confirm its total supply is 28,000, and airdrop it to the members of the telegram. MEME was quickly deployed and airdropped to about 70 participants, each participant has 355 MEME coins;

4. The contract deployer has obtained 2000 MEME, 1000 of them will be added to Uniswap as working capital to make the market, and the other 1000 will be given to V God;

5. A telegram group that allows holders of MEME tokens is also born, and soon MEME tokens can also be found on CoinGecko.

MEME can be hot, inseparable from its innovative gameplay, MEME has realized the innovative combination of NFT and DEFI.

MEME has two mining pools, one is to deposit ETH/MEME LP tokens on Uniswap to mine NFT on LP Genesis. One is to deposit MEME tokens to mine NFT on Genesis. In the Genesis Pool, after each MEME token is deposited in the Genesis Pool, one MEME coin can earn 1 pineapple point per day, up to 5 points. When there are enough pineapple points, it can be exchanged for NFT.

In the Genesis LP pool, users staking MEME/ETH LP tokens on Uniswap can also earn pineapple points. The amount of pineapple points earned depends on the amount of pledged users, and up to 5 pineapple points can be earned every day. After users earn enough pineapple points, they can choose their favorite NFT for redemption.

In summary, MEME is also a mining project, but it does not mine token revenue, but earns a limited edition of NFT through pledged assets.

The main logic of MEME tokens is: mining points, accumulating points, and changing points for cards. It has two mining pools, one is to deposit ETH/MEME LP tokens on Uniswap to mine NFT on LP Genesis. One is to deposit MEME tokens to mine NFT on Genesis. In the Genesis Pool, deposit MEME tokens to earn pineapple points, which can be used to exchange for NFT.

NFT热潮:UNI人均送iPhone弱爆了,MEME每人送套房

On the surface, the MEME project is a bit like the CryptoKitties of the year. It relies on novel gameplay to attract community attention, mine NFT tokens, and then form a herd effect to raise the price of the currency. In fact, looking at the NFT tokens on MEME, it is really hard to feel the artistry. At present, the patterns of NFT tokens are mainly the founders of blockchain projects, such as V God, founder of uncle, Satoshi Nakamoto, founder of Bitcoin, and so on.

04. Exchange layout

In fact, as the industry leader, the exchange has already analyzed that the focus of the market has shifted.

In mid-August, the Binance IEO project launched the NFT game concept currency SAND. Subsequently, the heads of the NFT concept MANA and ENJ increased. Many exchanges opened transactions in the above two currencies, which brought benefits to NFT. Currently, Huobi, one of the three major exchanges, is preparing to launch an NFT section, similar to the previous DeFi section.

OKEx Chief Strategy Officer Xu Kun also publicly stated in his speech: NFT may show explosive growth in the future, which will carry richer and unique asset value.

In addition to the top exchanges, the exchanges that have already launched the NFT section include ZT Exchange, AEX Anbank, MXC Matcha Exchange, etc. It is expected that more exchanges will follow.

It can be said that MEME is like a fire, igniting NFT and attracting investors’ attention. Whether NFT can become a phenomenon-level hot spot like DeFi is still not easy to conclude. But when new things are in front of you, don’t be blinded by inherent thinking.