On Chain Monkey is the first-ever PFP collection to be introduced completely on chain with one single transaction. There has never been a collection that offered free NFTs for minting and embedded all the data on-chain. It has been a little over one month since On Chain Monkey was launched, and it already took off in a way no one ever expected. The craze for generative profile pictures helped OCM to attract new buyers in the NFT space. People who believed the vision of the project now sit with astronomical gains without ever spending a dollar.
All of this happened only due to the organic growth of the project and community. The team experimented with a new type of NFT collection, or shall I say, an innovative solution that strives towards sustainability. Now, On Chain Monkey is on to some big things in the NFT space. It is collaborating with many platforms, to bring more utility value to its holders.
The price of On Chain Monkeys reached 0.41 ETH, which is more than $1500. The OS trading volume also exceeds 2.8k ETH. It is still early for us to predict how far this project will go in the race of PFP collections. But one thing’s for sure- innovation and value addition for holders is not going to stop. Today, we will discuss everything you need to know about OCM and learn how a free NFT project managed to reach such great heights.
About On Chain Monkey
Similar to other PFPs, the On Chain Monkey collection also consists of 10,000 NFTs with a minimum number of four traits. The super rare ones can have as many as seven. As mentioned earlier, the price of minting per token was completely free. So you could mint as many as you want by using multiple wallets. In terms of attributes, there are 171, including hats, clothes, earrings, etc.
The files of each NFT are stored on a chain, so it is fully transparent and open for its holders. The CEO of OCM, Danny Yang, decided to use this approach because most NFT collections store their metadata on a centralized server. If the server is shut down, holders can lose access to their NFT and erase their proof of ownership. Having on chain status is the only secure and long-lasting method to store
Danny took inspiration from Bored Ape Yacht Club and Art Blocks to come up with the art designs of On-Chain Monkey. The architect behind OCM is Nfinita, a good social platform that creates sustainable NFT projects. They plan to create more collections and give better exposure to OCM holders. A platform called Metagood is also in progress where users can trade with no platform fee. Another perk of holding an OCM NFT is members get early access to launches on Metagood.
The Team behind On Chain Monkey
On-Chain Monkey has one of the most well-established teams in terms of tech background and investing. Danny Yang is the CEO of the Metagood platform. He is also the founder of MaiCoin, the largest crypto exchange in Taiwan. He has deep expertise in blockchain analytics from his former company Blockseer and holds a PHD in computer science. The COO of the platform is Amanda Terry. She is also the Co-founder and managing partner for ACTAI ventures.
Amanda also has strong connections in business development at Twitter and other popular digital media platforms. She completed her MBA from Wharton School and BA from Princeton University. Finally, the chairman of Metagood is Bill Tai. Bill is one of the early adopters of NFTs for good. He created a cute sea turtle in 2018 to help protect endangered turtles from poachers. Continuing on with the same vision, On Chain Monkey aims to build a diverse community and help as many meaningful causes as possible.
The OCM community may not be the biggest in the NFT space, but it damn sure is one of the strongest. We constantly see collaborations with other projects and protocols, and OCM members actively participate in spreading the word. Flow Fest is a recent event that introduced the metagood marketplace, and more than 47k people got a chance to witness it.
With such free NFT drops, the community remains extremely active, and it is also helping new artists get a headstart in this industry. People are less hesitant to join the OCM bandwagon because it is 100% compliant and backed by some of the biggest thought leaders in this space.
That is why there has not been a major correction or sell-off since its launch. The price continued to increase, as holders believed in the good the team was doing every day. They also keep the community engaged by involving them in discussions and asking for their ideas to plan the future of OCM. And that is a good indication for a sustainable project as well as a community.
The average price of each sale is sitting at 0.21 ETH. In the last seven days, it has gone up to $2,700, putting its floor price above 0.4 ETH. Also, the number of sales blew past 1,000 in the last week, bumping up its trading volume by more than $2 million.
Even the OS floor price looks solid right now, considering it had no major corrections since launch. It is averaging a minimum sales of 50 every day, and OCM has not seen any major spikes in NFT sales since Sep 19.
When a community is willing to hold their NFTs with a long-term outlook, the demand will automatically rise, giving astronomical returns to all early members. In the case of OCM, the supporters did not even have to pay for the NFTs. So it is incredible how On Chain Monkeys made it this far without any hype or sophisticated roadmap. They want to help a cause and make a difference in the real world through NFTs. And that is something many people want to be a part of. If future plans and integrations are implemented well, we will be seeing great things coming from this collection. If you want to know more about this collection, I recommend you to join their discord server and talk to as many members as possible.
Born and brought up in India, Karthikeya Gutta is a crypto journalist and freelance contributor for ItsBlockchain. He covers various aspects of the industry with in-depth analysis and research. His passion towards blockchain and crypto ecosystem is mainly because he believes it can really change the world and help millions of people.
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