The Typical Minter
Analysing the minters of the Flipside GodMode during the fist hour of its launch
Minting needed 0.1 ETH + gas so, it would be necessary to have a minimum of 0.1 ETH on their wallet before the mint. Above shows how many of the first hour minters had that a day before, otherwise we consider that those people funded their wallets specifically for the mint.
- Well, more than 40% didn't have enough ETH on their wallet, and possibly funded just before the mint
- However mint is free for Cantina so, technically they just need gas on their wallet for the mint and doesn't necessarily have a 0.1 Eth balance, let't remove that cohort.
- First hour was quite busy, we can see at 16.47 there were 14 mints and overall 144 minters have participated (Not counting the Flipside wallets that we excluded above).
- It's not surprise that majority is from allowlist as opposed to Cantina where there were only 101 members as while allowlist had 634.
- However, out of 101 Cantina members 56 which is 56% has minted their NFT in the first hour..!!!
GodMode by Flipside was a highly anticipated project among the #bestanalyticminds and the entire flipside community. In one sentence Flipside is a community based data analytics platform who curate, and distribute blockchain data for absolutely free for the community to do analytics. Going beyond just creating the wonderful datasets they offer bounties to the community where the analytical minds across the globe can solve different real world blockchain analysis and get paid.
Why GodMode
The bounty claiming process was highly competitive and many had missed opportunities to claim and show their talents while getting paid for that effort. GodMode introduce superpower on FlipSide bounties where the HODLers can claim unlimited bounties and other perks. This project consists of 1000 NFTs, all having similar powers.
What is this analysis
In the following article we're gonna look at the minting activities happened on-chain during the first hour of the launch. The project was launched on 7th of June at 16:00 UTC. We'll be looking at minting data till 17:00 on that day. The GodMode NFTs had an allowlist to mint and minting was 0.1 Eth + gas. However, there were 101 members who are called "Cantina crew", the people who have earned the reputation in the community by showing wonderful work in the past, they had free mint + gas and 195 other were minted for future colabs, and marketing following 3 wallets minted 170 of those NFTs and we are going to remove those 3 wallets from this analysis as they are special cases.
'0x2d81713c58452c92c19b2917e1c770eecf53fe41',
'0x65d079b57844fca66df262523a0b1934bead712b',
'0xdc23c31c57747ee7cb2bb4b06af2ceab29e33cdb'
- We'll look at the number of mints happened every minute during this hour.
- Distribution of Cantina and Allowlist members
- Whether these wallets had the minimum required ETH balance (0.1 Eth) a day prior or did they transferred the amount just in time for the mint.
- Whether these wallets have previously involved with NFTs.
- It's quite clear that majority of these minters are new to NFTs, only 35% (50 minters) had previously HODL a NFT (within the last 6 months).
Conclusion
It's quite clear than GodMode is a project with future dividends and "investing" in it is a no brainer. During the first hour of the mint we saw 144 minters minted their NFT and majority of them were quite new to the NFT scene which shows that this project has a value beyond the jpeg and it also shows the analytic brains may need bit more exposure to the NFT world in the future. Hope GoDMode will take this community to the next level!!!
- Even with Cantina people out we can see 28.4% people (25 in number out of 88 non Cantina minters) have funded their wallet within a 24H of the mint. In other words they funded their wallets specifically for this mint.