Most of the Ethereum NFT craze completely passed me by. It all seemed too expensive, and with the way ETH GAS fees have been, I never really saw the point. But a couple months ago, I figured it was time to see what all the fuss was about, and I picked up my first NFT's from Opensea, some cute Aussie Dropbears. Since that post, I picked up a couple more, and now have four of these adorable jpeg critters.
In the Dropbears discord where I lurk from time to time, there was discussions and a connection to another project, being launched at the time, called "The Floor". I decided to free up a little ETH and mint one. Another new experience, if nothing else, of actually being in near the start of a project and minting, rather than buying on the secondary market. The mint price at the time was 0.077 ETH. Not nothing, but not huge either.
If you want to see the full info on this "Floor", here is the link to it on Opensea. Not long after I minted, the project hit some hard times, minting dried up well short of its cap, and things were not looking good. Prices dropped, and it was looking like my dabble on "The Floor" was a failed experiment.
However...
Relaunch
Unlike some other NFT projects that just packed up and abandoned the project when the NFT market stalled under the weight of huge GAS fees, the Floor team didn't give up. They stopped the minting process, to regroup and work out a plan to get the project moving forward again. The first thing they have done is announce that owners of the original floors (the 859 Floors minted prior to the pause) will be able to mint 2 new Floors for each one they hold, for just the cost of GAS. This will apply to anyone that owns a floor by December 12, regardless of whether it was minted, or bought on the secondary market. This alone has helped the floor price for the floor NFT's recover from a low of 0.012ETH back to around 0.04ETH.
The big news for the relaunch, however, is an announced partnership with NFT, an NFT business founded by Mark Cuban and Leverage Games Media. This deal means that Cuban's company will be promoting the relaunch of The Floor between December 4 and December 12.
NFT will be launching our campaign (tailor designed for our specific needs) on December 4th which will continue until our re-launch date on December 12th, essentially blasting our project to over 1 MILLION genuine NFT fanatics on not one, not two but FIVE different occasions across multiple Social Platforms!
Quote from this Medium post
Active Discord.
The Floor's discord server has remained active, and the founders and team behind the project have been transparent in their communications with the community. This gives confidence in the project, and building the community of Floor holders has been an obvious goal. The project is investing its funds into other NFT projects, and it's current collection can be seen here.
Overall, I am pleased that I minted a Floor and will happily hold and mint two more once the relaunch happens. I have no idea if this will end up being a good investment, but just like the Dropbears, there is something about the community, and highly motivated teams involved that is keeping me interested. I mostly avoid Ethereum projects, but these two I'll keep and see what happens.
Here is my current NFT collection on Ethereum, 1 Floor and 4 Dropbears. You can also see it on my Opensea profile. I have no idea when it comes to the NFT market, but I better save some ETH for gas. Between two more Floor's, and the upcoming free mints (just pay GAS) for an EMU for each Dropbear held, my collection will grow in the coming month. My favorite from the collection so far is the Stoned Police dropbear. The photobooth they have to allow you to change the background behind your bear worked a treat with this one, really enhancing the NFT IMHO. The Booth is temporarily off-line, but it really sets the Dropbears apart and allows for some customization, which is fun.
Have you got any Ethereum NFT's? Keep an eye out for the Floor, and if you can snipe one of the floor when GAS is low, why not have a punt? Having said that, nothing in this post is financial advice, please do your own research.
Cheers,
JK.