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On Chain Monkey is a game that utilizes NFTs to create an ecosystem of collectible monkeys. The game has been in development for more than two years and recently released on the Ethereum mainnet.
The new coin with high potential is a new coin that was released on the NFT Spotlight series. This article will discuss the release and give an overview of what it entails.
On Chain Monkey is the first PFP collection to be released entirely on the blockchain in a single transaction. There has never been a collection that gave out free NFTs for minting while also storing all of the data on the blockchain. It’s been just over a month since On Chain Monkey debuted, and it’s already taken off in ways no one could have predicted. OCM was able to attract new customers in the NFT sector because to the demand for generative profile photos. People who believed in the project’s concept are now sitting on massive profits without ever having spent a dime.
All of this was only possible because of the project’s and community’s natural development. The team tried out a new kind of NFT collection, or as I like to call it, an innovative approach that aims for long-term sustainability. On Chain Monkey is now working on several major projects in the NFT sector. It is working with a number of platforms in order to provide greater utility value to its investors.
On Chain Monkeys has achieved a price of 0.41 ETH, which is more than $1500. In addition, the OS trade volume reaches 2.8k ETH. We can’t say how far this initiative will go in the race to gather PFPs since it’s still early. But one thing is certain: innovation and wealth creation for holders will continue. We’ll go over all you need to know about OCM today, as well as how a free NFT project rose to such tremendous heights.
On Chain Monkey’s Background
The On Chain Monkey collection, like other PFPs, consists of 10,000 NFTs with a minimum of four characteristics. The ultra-rare ones may have up to seven. As previously stated, the cost of minting each token was totally free. Using several wallets, you may mint as many as you wish. There are 171 different characteristics, such as headgear, clothing, jewelry, and so on.
Each NFT’s files are kept on a chain, making it completely visible and accessible to its owners. Because most NFT collections keep their information on a centralized server, Danny Yang, the CEO of OCM, chose this method. Holders may lose access to their NFT and their proof of ownership if the service is shut down. The only safe and long-term way of storing data is to be on the chain.
Open Sea
Danny drew inspiration for On-Chain Monkey’s art designs from the Bored Ape Yacht Club and Art Blocks. Nfinita, a wonderful social platform that generates long-term NFT initiatives, is the brains behind OCM. They want to develop additional collections and offer OCM holders greater visibility. Metagood, a platform where users may trade without paying a platform charge, is also in the works. Another advantage of having an OCM NFT is that members receive first access to Metagood launches.
The creators of On Chain Monkey
In terms of IT experience and investment, On-Chain Monkey has one of the most well-established teams. Danny Yang is the Metagood platform’s CEO. He is also the creator of MaiCoin, Taiwan’s biggest cryptocurrency exchange. He has extensive blockchain analytics experience from his previous firm, Blockseer, and a Ph.D. in computer science. Amanda Terry is the platform’s COO. She is also the managing partner and co-founder of ACTAI Ventures.
Amanda also has excellent business development contacts at Twitter and other well-known digital media platforms. She graduated from Princeton University with a BA and an MBA from the Wharton School. Finally, Bill Tai is the chairman of Metagood. Bill is an excellent example of one of the early users of NFTs. In 2018, he designed an adorable sea turtle to aid in the protection of endangered turtles from poachers. Keeping the same goal, On Chain Monkey aspires to create a varied community and support as many worthwhile organizations as possible.
The Neighborhood
The OCM community may not be the largest in the NFT world, but it is unquestionably one of the most powerful. Collaborations with other projects and protocols are common, and OCM members are actively involved in spreading the word. More than 47k individuals attended Flow Fest, a recent event that exposed the metagood marketplace to the public.
With so many free NFT releases, the community is thriving, and it’s also assisting new artists in breaking into the business. People are less reluctant to get on the OCM bandwagon since it is 100% compliant and supported by some of the industry’s most influential thought leaders.
1 – 100% on the chain in 1 TX 2 – Drop of air 3 – completely obedient 4 – The game’s main aim is to assist others. 5 – Strongly supported (see website) 6 – Attracting people who wish to: assist others 7 – Titanium hands for sale (less than 9%). 8 – A management team that is creative, optimistic, and honest. https://t.co/5fkHOqtkCF
— @SCirculaire (@ERC-1155) October 11, 2021
That is why, since its debut, there hasn’t been a significant correction or sell-off. Holders believed in the good the team was doing every day, therefore the price continued to rise. They also keep the community involved by engaging them in talks and soliciting their input on OCM’s future plans. And that’s a positive sign for both a project and a community’s long-term viability.
Overview of Sales
Each sale now costs 0.21 ETH on average. It has risen to $2,700 in the past seven days, placing its floor price over 0.4 ETH. In addition, the number of sales surpassed 1,000 in the previous week, resulting in a $2 million increase in trading volume.
The most expensive Monkeys sold for more over $25k, with the highest transaction being $38k.
Top-Rated OCMs
Even the OS floor pricing, which has seen no significant adjustments since launch, seems to be in good shape right now. It is averaging 50 purchases per day, and OCM has not observed any significant increases in NFT sales since September 19.
Final Thoughts
When a community is prepared to keep its NFTs for the long term, demand rises naturally, providing all early members enormous returns. The supporters of OCM were not even required to pay for the NFTs. So it’s amazing that On Chain Monkeys has made it this far without any fanfare or a well-thought-out strategy. They aim to utilize NFTs to assist a cause and make a difference in the real world. And many individuals would want to be a part of it. We may expect big things from this collection if future ideas and integrations are well-implemented. If you’re interested in learning more about this collection, I suggest joining their discord server and chatting with as many people as possible.
Karthikeya Gutta, a crypto writer and freelance contributor for ItsBlockchain, was born and raised in India. With in-depth analysis and research, he covers different areas of the sector. His enthusiasm for blockchain and the crypto ecosystem stems from his belief that it has the potential to transform the world and benefit millions of people.
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