The market value exceeds that of "Fat Penguin", can NokeMonkes' dream of "1 monkey = 1 BTC" be realized?

Original | Odaily Planet Daily

Author | Asher

Editor | Qin Xiaofeng

As the price of BTC continues to rise, the Bitcoin ecosystem NFT has ushered in a new round of explosion, among which NodeMonkes (known as “Node Monkeys” in the Chinese community) have performed most prominently.

According to the latest data from the NFT sector in CoinGecko, NodeMonkes sales volume in the past 24 hours was 80, and the 24-hour transaction volume was 68.28 BTC (approximately 4.6 million US dollars); the current floor price is 0.8 BTC (approximately 53,755 US dollars), and the increase in the past week has exceeded 120%; the total market value is as high as US$537 million, replacing Pudgy Penguins and second only to CryptoPunks and BAYC.

It only took NodeMonkes less than 3 months from project launch to becoming the top three NFT total market value (and the only BTC ecological project in the top five list). Why is it so sought after and favored by the community?

The first native 10K PFP series on Bitcoin

The design prototype of NokeMonkes first appeared in the Ordinals test network on December 21, 2022.

As the first native 10K PFP series in the Bitcoin ecosystem, the project’s casting time is from February 14 to February 16, 2023. There are a total of 111 features in the collection, including 32 for the body, 5 for the ears, and 29 for the eyes. , 45 heads. This project is also one of the most complete projects in the current Bitcoin ecosystem that lists characteristics and rarity.

Source: official website

The founder of NokeMonkes is nodetoshi (anonymous), who is called “Satoshi Ishimoto” by the Chinese community. He has led the creation of multiple projects. According to investigations by multiple community members, he is the organizer of BitcoinRocks and may also be the creator of RSIC. In addition, nodetoshi was one of the first three people on the founding team of Ordinals, and had the highest authority in the early Ordinals DC community - only two people had it, the other one was Casey, and nodetoshi later left the team due to conflicts.

Regarding the fair sale (Freemint) of the project, nodetoshi has his own thoughts. In order to prevent scientists and speculators from jumping ahead, he spent his own money to airdrop 19,000 RSIC to the most active and loyal non-robot accounts in the Bit ecosystem.

When NokeMonkes was released, nodetoshi auctioned 8,000 NFTs using a Dutch auction with decreasing prices, with a starting auction price of 0.21 BTC. After about 30 hours of auction in the Netherlands, it was finally sold out when the price dropped to around 0.04 BTC. Of the remaining NokeMonkes, 1,000 are used for the community, contributors, artists, developers, etc.; the other 1,000 are reserved for the founder team, and the relevant wallet addresses have been disclosed.

Source: official recommendation

Regarding the NodeMonkes shoot in the Netherlands, there were a few episodes during the shoot. NodeMonkes initially announced that it would conduct Freemint; but the team considered that it would be reserved by scientists and speculators (such as memory pools competing for orders), so it changed to a whitelist for sale again. After that, the team received a large number of whitelist requests and found that many users pretended to be project owners or communities to request whitelists, so they canceled the whitelist sales method. In the end, the Dutch auction was adopted after comprehensive considerations, leaving pricing power to the community and the market, while also avoiding scientists and speculators.

The “golden shovel” of BTC ecology

On January 22, Rune Miner-RSIC was airdropped to the wallets of a group of active NFT players in the Bitcoin ecosystem. NokeMonkes holders received huge rewards from this airdrop. According to feedback from community members, active addresses holding NodeMonkes have received up to 5 RSIC airdrops.

After the start of trading, RSIC’s performance was also very impressive. The floor price exceeded 0.01 BTC on the day of trading. In the following two days, the floor price reached a maximum of 0.05 BTC, and then fell back and stabilized at 0.03 BTC. Recently, as the overall situation of the crypto market has improved, especially the price of BTC, which has continued to rise, RSIC’s current floor price remains around 0.12 BTC (worth approximately US$8,000).

Source: magicden

With the recent rise in floor prices, NodeMonkes has attracted more and more attention. It is expected that more BTC ecological projects will conduct airdrops to NodeMonkes holders during cold start in the future, recreating the grandeur of BAYC in the past.

Giant whale increases its position, “1 monkey = 1 BTC” is about to be realized

According to NFTstats.eth monitoring data on March 4, a whale address starting with fh3csy bought six “alien” NodeMonkes for a total price of 53.45 BTC. The total expenditure was approximately US$3.35 million, with an average price of 8.9 BTC.

Source: NFTstats.eth

As soon as the news came out, market buying increased. Late yesterday, the floor price once rose to more than 0.9 BTC. Major communities began to discuss NokeMonkes, and there was a strong FOMO mood:

• “No benefit is the biggest benefit. I suddenly realized that Nothing>Anything, a project that does nothing is a good project with unlimited imagination. Looking back at BAYC before it started making games, the floor price kept rising; Since the announcement of the game, the floor price has been falling all the way, and it is completely cool. The node monkeys on the BTC chain have no ecology and vision, and the floor price has risen the best.”
• **"**Looking back now, Node Monkey switched from the original Free Mint to Dutch Shooting. Is it the intention of the big brother behind it? And people who like Dutch Shooting as a sales method seem to also like people who play top NFTs on Ethereum. There may be capital behind it.”
• " From the Dutch shooting that encountered countless people’s FUD, to the community split after the listing, to the current currency spiral, to the current airdrop win, and now to become the most comfortable small group in the currency circle One of a handful of people. You can make money by holding NodeMonkes.”
• “Node monkeys are the hard currency of the Bitcoin ecosystem. It is no longer a dream to exchange a node monkey for 1 BTC.”

Summary

From the analysis of multiple dimensions such as community popularity and secondary market transaction volume, NokeMonkes is undoubtedly the leader of NFT in the BTC ecosystem. At the same time, NokeMonkes’s two major labels of “the first native 10K PFP series in the Bitcoin ecosystem” and “high-quality gold shovel” have also made the project more popular and continued to raise the floor price. Now it is less than 1 Monkey = 1 BTC" is not far away either.

**We will wait and see whether NokeMonkes can replace BAYC or even CryptoPunks in the future. **