Last week, we introduced the Hyperliquid NFT market (Related reading: Niche players are secretly happy, Hyperliquid NFT actually rose against the trend? ). It can be said that the Hyperliquid NFT market in the previous period was basically driven by the foreign NFT player group. At least from the surface, there is little sign of official Hyperliquid intervention.
The Sonic NFT market introduced this time is almost the opposite of Hyperliquid. It can be said that Sonic NFT is a very unique NFT ecosystem.
What makes Sonic NFTs unique
- The NFT player community has almost ignored the Sonic NFT ecosystem. This may be related to the background of Sonic, a DeFi-focused chain led by DeFi OG Andre Cronje, formerly known as Fantom, which has now been renamed Sonic. The players participating in Sonic NFT are mostly DeFi players and users who are already active in Sonic (Fantom).
- There are obvious signs of top-down influence. For example, Derps, the current leader of Sonic NFT, is used as a Twitter avatar by quite a few Sonic officials. Currently, Sonic has 16 certified accounts under Twitter institutional certification, 9 of which have Derps as their avatar. Andre Cronje himself also uses Derps as his Twitter avatar.
- Most of them are equity-based NFTs. The projects with the highest trading volume are almost all due to the shovel effect, and they basically come from project parties with actual products, often linked to token airdrops, token pre-sale rights and other utilities.
How to participate?
Compared with Hyperliquid, it is easy to prepare for Sonic NFT. We can buy $S directly on major CEXs, transfer it to the Sonic chain, and then trade it on Paintswap .
Sonic NFT Project Introduction
Derps
Sonic is undoubtedly the current NFT leader, with a total of 2000. As mentioned above, many Sonic team members use this project as their Twitter avatar.
The current floor price is 2000 $S, about 1100 USD, and the market value is just over 2 million USD. It is worth mentioning that the project has a token $DERP, which currently has a market value of about 6 million USD. The difference between the NFT price and the token price is not that big. Derps NFT holders can receive $DERP every day, and the amount received each day will not be added up. This mechanism is quite interesting. The token economics of $DERP are as follows:
- Total supply 420,696,696 pieces
- 30% for initial liquidity
- 30% Derp NFT holders can claim it daily
- 20% belongs to the national treasury for project development
- 10% is used to bribe various DEXs, which can be understood as marketing funds used to promote $DERP to obtain better liquidity
- 10% belongs to the team, locked until December 25, 2025
It is not quite appropriate to simply classify Derps as a cultural community project, because it itself has some DeFi gameplay based on $DERP. For example, $DERP can be used to mint ERC-1155 NFTs to increase the output rate of $DERP, or $DERP can be used to feed Derps NFTs to obtain Beprs NFTs, which is a series with a total of 69,420 (the initial maximum supply is 10,000, which increases over time). The team plans to build games around Berps NFTs in the future.
However, at present, the most attractive thing about Derps is of course the golden shovel effect. Previously, Derps NFT holders received the first big airdrop of $SHADOW, which is a DEX on the Sonic chain. Each Derps NFT received $SHADOW currently worth about 2000 U. And Derps OG series Derpe Dewdz (a total of only 100, the current floor price is about 5 times that of Derps) received $SHADOW currently worth about 8500 U. In the context of a bunch of Sonic team members using the project as their Twitter avatar, players undoubtedly have higher expectations for the future golden shovel effect of Derps.
SwapX xNFT
The NFT series launched by DEX on Sonic has a total of 2989 and the current floor price is 5800 $S, which is approximately 3300 US dollars.
This is not a PFP project, but an equity-based NFT. Holders can pledge the NFT to receive dividends from the SwapX platform, and can also enjoy token pre-sales qualifications for some Sonic projects.
Lazy Bears
The NFT series issued by the Token Launchpad on Sonic has a total of 2,244 pieces, and the current floor price is 274 $S, about 156 US dollars.
I think there are two main reasons why this is popular. One is the expectation that it may issue its own token in the future, and the other is the spillover of Derps influence. This is a Free Mint project, and everyone wants to get a chance to win.
Beardies
Sonic is the official NFT project of Paintswap, a NFT trading market, with a total of 2048 units. The current floor price is 1670 $S, which is approximately 950 US dollars.
This NFT series can receive 3% of the daily transaction fee income of the Paintswap trading market as dividends. In addition, there is a project called Colorful Coal, which was previously an official airdrop to Beardies, and it can also receive 1% of the daily transaction fee income of the Paintswap trading market as dividends.
METRONIX
The official NFT series issued by DEX Metropolis on Sonic has a total of 777 pieces, and the current floor price is 1120 $S, which is approximately 640 US dollars.
The series will receive an airdrop of Metropolis’ native token $METRO.
Umans
The pure art series occupies a narrative of the first NFT series on Sonic. The total number is 998, and the current floor price is 179 $S, which is about 100 US dollars.
Conclusion
It can be seen that the current popular projects on Sonic are mainly equity-based NFTs, and the total amount is relatively small. The future development of these projects depends largely on how high the project parties behind them and even the entire Sonic ecosystem can reach. The relatively small total amount means that when the market is good, it may rise sharply, but when the market is bad or the project and ecosystem are not well developed, it will also suffer from the double kill of price and liquidity.
Therefore, the most certain Sonic NFT at present is probably Derps, and it is unlikely that any competitor will emerge to challenge its leading position in the short term.
