Non-Fungible Weekly #15

Crypto Sees Green, Gambling Meta, NFT Market Updates, and More

Author

Nick Hendrix
July 18, 2022

This week we see some green sunshine through the bear market gray, we take a look at the NFT markets, and a closer look at Solcrash.io, the dominant NFT project of the week.

$SOL Update

SOL saw a rough start to the week but quickly pivoted after just touching our previous demand zone at 31.6.  This shows investors see this area as a point where SOL still holds value. Throughout the week, SOL worked its way up towards the current significant supply zone at 42.1. If buyers can force a breakout above this point and hold, it would establish a new support level.

NFT Market Updates

  • The 7D volume on Magic Eden shows Primates taking the top spot. And it's no surprise to still see Degods and Okay Bears on the top 10 list.

With the value of SOL leveling out a bit, we have seen positive movement in some NFT projects. Most notably, projects providing rev share. Investors see the importance of a passive income stream during a bear market. 

Solcrash.io

Solcrash is an online game where players bet SOL on a random multiplier. If they hit stop before it crashes, their bet is multiplied; if they don't, they lose their bet.

Solcrash currently has two NFTs. The first NFT that was minted in January 2022 is the Pokerfaces collection. Minted at .33 SOL, they are now selling for 140 SOL! Poker faces have a supply of 375 NFTs. The second collection that was released in July is called Crashfaces. Minting for .99 SOL, Crashfaces are currently trading for 30 SOL. There are a total of 1000 Crashface NFTs.

Here we have a project that's been in the space for over seven months; why the sudden meteoric rise? While the game UI is clean and people like gambling games, the main reason appears to be the daily payouts for holders of Pokerfaces and Crashfaces.  Currently, 90% of the profits from the game are paid out to holders, with Crashfaces being worth approximately 20% of Pokerfaces due to the higher supply.

The team has shown transparency throughout the project by displ daily and live stats for payouts and house wallets. They also provide the hash data for each game that can be fed into a program that displays the results on the blockchain. Every game result can be traced back even to the very first game. 

Disclaimer: Bridgesplit does not endorse gambling in any form. 

Markets green you say?

Word of the Week:

Aggregator

An aggregator gathers information from various sources and compiles that information into one single endpoint. An example would be a dApp that looks at multiple exchanges to find the best route for a token swap. Jupiter is a popular aggregator on Solana.