Of the thousands of punks I've gazed upon, for some reason this guy is still my favorite, lol.
Hang in there, Clay.
So I was in the Blockhead Games Discord the other day talking to Marky, and he's putting a lot of good work into the project. He's added a history tab so we can see what's been bought and sold in the last 24 hours (upgrade coming soon™). He's added filter functionality to the market so that we can sort punks by lowest price or recently listed Punks. More importantly: he's stated his intentions to commit to this project and keep working on it and adding value.
I've seen quite a few devs getting excited about this project, and other people want to build on top of it. This is the magic of Hive. We actually have a good amount of devs, and the community always comes together to support projects like this. Think of it as a form of consensus. HivePunks is just decentralized enough that we can all build on it and try to pump up the floor value of these NFTs.
I have always been a stanch opponent of NFTs.
https://peakd.com/hive-167922/@edicted/absolute-nft-insanity
https://peakd.com/hive-167922/@edicted/nft-insanity-part-2
https://peakd.com/hive-167922/@edicted/nft-mania
https://peakd.com/hive-167922/@edicted/nft-ownership-bridge
https://peakd.com/hive-167922/@edicted/rc-crunch-full-moon-twitter-nft
When we actually go back and look at what I've written about NFTs, the theme is pretty clear. NFTs are very dumb in their current form, but they have a ton of potential, especially in the realm of gaming (in particular MMORPG). Already Hive has projects like Splinterlands and Dcity where NFTs have actual real utility. You must own the NFT to play the game. That's where this is all going long-term.
So why FOMO into a 'dumb' crypto punks clone?
Because seemingly everyone on Hive was on board for it. The @punksonhive wallet was public to all. I saw dozens of familiar accounts supporting this project, all of which have high reputations on Hive. That counts for a lot.
Even now the floor prices for these things is around double the minting price. Anyone who minted punks has basically at least already doubled their money, and that's assuming they got the worst ones possible (highly unlikely).
https://punks.usehive.com/markethistory
Looking at the new market tab we can see that most sales are simply sweeping the floor and buying the "worst" and most basic punks off the market at the cheapest price (35-50) Hive. Every once and a while we'll see one sell for a little more than that.
Volume at this level is great.
Most punks are not priced to sell, with the vast majority sitting on the market for 1000 Hive or more. Truth be told it's quite obvious that most users are not actually looking to sell their punks at this time. We are in the middle of price discovery. Let it ride.
It's a very good sign that the floor is already x2 the minting price. I was sure after they got bought out so quickly that the big buyers would realize they made a mistake and dump their punks on the market lower than cost (especially the lame ones). Clearly, this has not happened and the demand for these things just keeps going up.
But that's all speculative bullshit.
What is far less speculative is that it seems like a dozen devs are already looking to build on this project. There's surprisingly a lot of excitement around this project, and because these NFTs live on HiveEngine they are just decentralized enough to build out new frontends.
What kind of frontends?
At this point I'm thinking about going back to an old project that I never finished: PentaSkill. I was planning on implementing NFTs on this project, but why do that when I can just plug it in to HivePunks and tap in to a built-in community? You'd need to own a HivePunk to play the game, just like you need Splinterlands NFTs to play Splinterlands. It's really not that hard to give NFTs fundamental value, it's just a matter of actually doing it.
Hive is different.
In cases like this we can very much leverage our feeless infrastructure to great effect. This is a very big deal. No more bullshit $200 charges on Ethereum for a failed transaction. Everything is free and frictionless. Devs can build on Hivepunks without having to worry about all the scaling issues that chains with fees have. The lack of friction in this market is about to play a huge roll in our ability to scale up and build out.
For example, You'd never EVER EVER be able to play a rock/paper/scissors style game on Ethereum. One game would cost you like over $1000. Give me a break. Meanwhile, Hive is one of the few platforms that allows users to yield farm bandwidth. As long as we have enough Hive to transact (this number is bound to go up eventually) everything will be fine.
At the moment a single account probably doesn't even need more than 10 Hive powered up to do whatever they want here. However, what happens when Hive implements RC pools and this number gets jacked up to around 100 Hive? Still not that big of a deal, but what if 1 Hive was worth $100? See where this is going? Once Hive scales up it might cost $10000 just for the privilege of having free transactions. Every network will reach its scaling limit eventually, and Hive is no exception. We are so early in the game it's not even funny. Most people can not see where this is going, and even my predictions are likely only 50% accurate at best.
Moving on
The hype surrounding the project is approaching legendary levels. I went into Discord to congratulate Marky on his success and he wanted to know what I was there to complain about. I have always given Marky shit, so a recommendation from me is pretty high praise in this context, especially considering how much trash I've talked about NFTs in the past.
Conclusion
This project is going places. My only regret is that I didn't mint more of them. I actually would have liked to own 1% of the supply (100 Punks) but I currently only have 72 and I only minted like 43. The ones that I've bought off the market have been x2 to x4 the minting price (40-80 Hive), and I even bought Landry Flint from @lordbutterfly under the table for 150 Hive. I'm a man possessed.
At the same time whenever I buy, where is that money going? It's going to the people of this community. This is a primary example of how communities can circulate value within the bounds of their own networks without bleeding out to exchange pair dumps. I realize now that this is a big reason people like NFTs. It's an easy way to support people in the community and keep the money within the given crypto country.
Conclusion conclusion
Very exciting times. By all accounts Hive should be trading at like 70 cents or less during a crash like this, but we are currently still rocking that $1 mark. At this point I fully expect to be trading over $10 per Hive within the next 12 months (guaranteed). We've simply been building too hard and scraping the bottom for too long for any other outcome. We earned this.
Marky is committed to this project and says he's shifting gears to NFTs and gaming full time. That's great because I'm also aligned in the same positioning. The more devs we can get onboard to create games on Hive, the better. Play to Earn is the future of gaming.
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pocketsend:1000@edicted
I miss pocket...
I missed this one but it was poor timing for me. My extra funds went into Splinterlands sadly. Nothing left to scrape this one together lol glad people are making some decent profits on it! Let’s hope we can keep up this craze for NFT’s!
https://punks.usehive.com/market
Did you really miss it though?
They could be selling for less than mint price in a month or two.
Or they could moon to a 100 Hive floor.
Who knows?
Hahaha I'll see what the prices are and if it's in my realm of possibility. Going from NFT hating to shilling! 🤣 I don't blame you man, it's cool for sure if you can get in at the right time.
Yes. Hive has been going up despite strong inflation from HBD. Once we go back to deflation, it's interesting to see what will happen.
Strong inflation from HBD?
With 23M HBD in circulation we experienced massive deflation as we moved from under 5M HBD in circulation to 23M. The more demand we can get for HBD the more deflationary Hive will get. I think we've been 23M HBD for a while there hasn't been a lot of conversions either way.
Since September we have inflation. Credit to @penguinpablo
As I just said, this information is extremely misleading.
There are 23M HBD in circulation.
This is almost twice as much HBD in circulation as the 13M peak in 2017.
We were down to a couple million HBD at one point.
Clearly, that's DEFLATIONARY.
You've chosen a short timeline and completely ignored the Hive >> HBD conversions.
This is not inflation.
I wonder what they'll be like a year from now. Crypto has me going long-term for almost any thinking these days
As it happened in Ethereum and Terra, Punks will set aside the finest, more active, more engaging members of Hive blockchain. And that signals a valued trait, for sure.
If only , I would hold at least one for any potential future airdrops of virtually any future new project in the works...
Well 72 is not bad, and then there's me that have only 1 LOL 🤣
Happy to hear that devs want to build on it already! Great times ahead!
I will keep my HivePunk forever with me, until death or until a whale gives me 666666 for it 🤣🤣🤣🤣🤣
Jokes aside I only minted one because I'm a broke boy ahahah but I am really impressed with how quickly they went sold out and how the floors are getting higher and higher, 100Hive floor soon? :)
Maybe in 5 years time 666666 will not be a crazy number no more? ETH showed us that madness is indeed very possible in this world so why not! 😂
Great to hear that! P2E is the future indeed, soon all the micro transaction games will sell NFTs on a blockchain, be it centralised or decentralised the future is moving there!
Cheers :)
That’s a risk I’m willing to take. As long as the USD economy doesn’t go into hyperinflation.
haha cmon man
this is obviously not a risk to you
it's a slap in the face to new users trying to fomo in
no more room on the lifeboat
there's no reason to think that the same that that happened to ETH won't happen to Hive as well.
I couldn't get any Punknfts, but having a game centred around it would be dope coz anyone would be able to get on the project. that's what makes Hive so awesome
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There are over 1000 for sale right now why does everyone say they can't get one? :D
https://punks.usehive.com/market
I wish I bought more of the punks as well but I did kind of FOMO in for one punk.
Anyways what did happen with that project you wanted to make with like 6 different parts? Your talk about NFTs and wanting to create a project just reminded me of it.
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Not everyone... I missed out on this. I was on the road all weekend and never stood a chance. I am pretty bummed now that I am seeing all the hype.
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I'm about to buy another one right now.
https://punks.usehive.com/market
I can't do the secondary market thing. If I didn't get in at the beginning I have a hard time paying the inflated prices.
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Yeah I'm with you on that lol
Hahah I missed it all too. Glad I'm not the only one!
Playing to earn is the future indeed...
earning is always nice, earning while playing is even better.
I have WAY too many punks and no time to deal with listing them on the market, so if you (or anyone else reading this) wants to buy bulk punks at below market prices let me know!
Ha you cray.
800 punks.
Why not just hold onto them for a few months?
I'm going to hold on to most of them, definitely the rarer ones, but why not sell a couple hundred lower rarity ones and maybe make some big market purchases?
good point.
I'll take a look
Enjoy your purchase :)
Dont get too hyped man. :) While I applaud Marky for bringing NFTs directly to the Hive blockchain it will take a tremendous effort to streamline NFT minting so theyre approachable to the outside world.
We still dont have the infrastructure to support the idea of Hive being a NFT friendly chain. I dont even think that having 10k punks is something there is enough demand for right now for a continuous interest. NFts are notorious for being very instant gratification and the interest falls sharply over time. Hopefully, the punks will maintain its staying power as the first collection.
Ill be launching my NFT project with 560 units next week with a set roadmap which i hope is a decent supply that i feel will be covered by the demand.
Everything is just slow as fuck here and wer just not responsive when it comes to following market trends. Thats not something anyone outside the devs can bring to Hive and they are slow. Very slow.
We needed smart contracts 4 years ago. We needed NFT pfps a year ago.
It's always good to be cautious, but at the same time I've only spent like two weeks worth of blogging rewards on the FOMO so far. It's actually weird how much money I make from my silly blog at this point.
Dont jinx it. ;)
You can have one more almost for free :)
I am auctioning off one in this post.
https://peakd.com/hive-121566/@stayoutoftherz/meine-punks-und-einen-davon-versteigere-ich
Just add your bid in the comments.
Highest bid currently only 10 Hive!
Great job boss
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I just sold my Robot(only 4 exist), rarity 25/10,000 today for 5k usd, off market.
good read. I am thinking about lions or cubs NFTs you know... totally makes sense... 😉
I bought some favorite honeycomb punk.
These hive punks will be exciting in the future.
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hey @edicted can you tell me what is the benefit of holding one I'm thinking of buying some but don't know what they represent?
This is all very interesting and one can’t help getting a tad excited because these Punks are all over Hive ( even I’ve written a backstory for one). However, as far as NFTs go I was thinking of developing a frontend for people to mint PDFs of their designs or books, such as sewing patterns, woodworking designs, etc and then hire them out(perhaps offer a subscription based membership) or sell them outright. As far as I know this has not been done yet. As far as I could see devs are not able to write Smart Contracts to Hive without permission???
What happened to the hive punk community here does it still exist?