The NFT market is going through a rough patch, to say the least. Ever since it peaked in 2021, one of the most lucrative crypto niches has been bleeding with seemingly no signs of a speedy recovery. Some analysts attribute the current state of affairs to a plethora of external factors, such as the raging recession, the most significant conflicts in Europe since World War Two, and the adverse effects of the covid pandemic. Meanwhile, others are keen on believing that the problem of JPEGs flopping should be found elsewhere.
Namely, in the washed-out state of the industry, artistic expression and aesthetic narrative are overshadowed by numerous copycat projects that bring almost nothing to the creative table. In light of this discussion, the other day the community pondered on Twitter about CryptoPunk’s success and which project, if any, could follow in its footsteps. Join me in today’s editorial to see whether the Big Eyes Coin, the new kid in the crypto project, could be the next big thing the crypto community has been waiting for a while now. Let’s dig in.
CryptoPunks: Ethereum NFT Sensation
Although this might sound ludicrous, considering that at the time of writing, the CryptoPunk collection is at the very top of NFTs by market capitalization, back in 2017, most of the pixel avatars were released for free. Created by Larva Labs studio, the collection of 10,000 unique characters with proof of ownership stored on the Ethereum blockchain quickly found a way to become not only an overnight sensation for the crypto flock but also for the general audience. Professional athletes, politicians, musicians and other influential people own these computer-rendered avatars.
And while its initial success may be open to interpretation, when in 2020, the concept of NFTs swept the world with its original proposition, it was the first collection to resonate with the Twitter crowd on a mass scale. Ever since multiple projects ranging from Pudgy Pinguins to Invisible Friends have attempted to recreate the original magic, no one could genuinely come close to challenging the OG status of CryptoPunks. Nonetheless, the question remains, what attributes and characteristics should collectible possess to become the next Twitter sensation?
Big Eyes Coin: Novel Aesthetics, Community and More
Although Big Eyes Coin has only recently entered the NFTs golden rush, it looks like the community can’t get enough of this new project. One of the reasons this could be the case lies in the project’s novel aesthetics, which unlike most of the closed competition, is not dog-themed and ape-derivative.
A bald move of choosing to render a cute anime-looking cat instead of the recycled narrative widely used in other NFT collections paid off handsomely. Needless to say that at the time of writing, the project has amassed more than $7 million and is eyeing to finish this month with $10 million in the bank
However, the NFT tax implemented for the project’s future development attracts the crypto flock above anything else. According to Big Eyes White Paper, each subsequent sale of NFT gets the original holder 4% while 5% is distributed among the holders of the platform’s native token BIG. Such a financial model enables the project’s development cash flow, gives the community passive income and maintains the liquidity of BIG’s token.
What To Make Of It
Although it is too early to make any final predictions, judging by what we have on the table, Big Eyes Coin has all the necessary ingredients for success. Novel aesthetics, community support and a viable financial model are among many things this novel project offers. If you are intrigued by what this project could offer, we suggest trying a promo code BIG1140 to win some free BIG tokens.
Big Eyes Coin (BIG)
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.