For many blockchain-based projects or cryptos, getting into NFTs is a way to stimulate price rallies and user activity, whilst gaining attention as well.
Now, the latest to try out this strategy appears to be Ethereum Classic [ETC].
ETC in the Metaverse
Retweeting a video about the “ETCPunks” NFT project, the Ethereum Classic Twitter account hit out at those who accused it of not having NFTs and asked[1],
Nonetheless, a trader might look at the ETC Punks project and remember Ethereum’s CryptoPunk series by Larva Labs. The ETC Punks Twitter account also made sure to point out[4] the difference.
Source: EtcPunks Twitter[5]
On that note, Visa this year bought an Ethereum-based CryptoPunk for around $150,000.[6] This does raise the question of whether Ethereum Classic hopes to also draw in mainstream stakeholders or even compete with the second-biggest blockchain by market cap.
For more context, the ETC Punks collection consisted of pixelated avatar faces set against a green background. However, the Ethereum Classic-based NFT project differentiates[7] itself by announcing that purchases would be random and that the NFTs’ identity – or rareness – would only be revealed after the transaction.
At press time, the ETC Punks website claimed[8] that 6,285 of 10,000 ETC Punks were remaining.
Comparisons with Ethereum
Launching NFTs or NFT projects can bring new users to a blockchain’s DeFi scene. Ethereum is a case in point.
According to Etherscan, the fourth-largest “gas guzzler”[9] at press time was the OpenSea NFT marketplace, with fees[10] of $2,757,104.61 or 609.74 ETH in the last 24 hours.
For its part, OpenSea showed[11] that Ethereum’s CryptoPunk collection
