Blocksmith Labs NFT Collection Review

Blocksmith Labs (BSL) was founded to address the problems facing the NFT industry while delivering utility to its holders. 

Since its launch on March 24, 2022, at a mint price of 2.2 SOL, the Blocksmith Labs NFT collection skyrocketed in price and volume. To date, the floor price of BSL is 57.50 SOL on Magic Eden, having achieved a total volume of 233,122.57 SOL. As speculative NFTs get weeded out during this bear market, projects like Blocksmith Labs that continuously deliver value to holders will remain.

What makes Blocksmith Labs a Blue-chip Collection on Solana?
  1. The team. The founders of the project have a strong background in engineering and technology. One of the three co-founders, Mert, is an ex-Coinbase engineering employee. Co-founder Cryptonent is a lead developer at DeGodsNFT, which is one of the most successful blue chips on Solana. Co-founder Harmy is the product owner of Solfolio, an NFT portfolio tool. As you can probably see, the team has many accomplishments in the crypto space, and this bodes well for an NFT project.
  2. Next, the team has delivered Mercury and BiFrost, which provide a seamless experience for project owners and users. On Mercury, holders can enjoy updates on new projects listed, raffles, and auctions. Project owners can also easily export whitelist addresses. As of today, Mercury has onboarded more than 300 projects and 100,000 users onto the platform.
  3. Bifrost is a next-gen launchpad for Solana NFT projects. Bifrost provides anti-bot minting solutions to provide users with a fairer price when minting. It also comes with a dynamic and fixed minting mechanism. Project owners that use dynamic minting typically raise a larger sum of funds. Bifrost will only take a small cut from any extra funds raised compared to a fixed price minting. A small percentage of the supply is also minted using $FORGE, the collection’s native token. There is also a freeze transfer feature that prevents listing before the collection is finished minting. Whitelist management is also done via Discord role assignment instead of collecting wallet addresses.
Holder Benefits
  • As a holder, you can stake your NFTs to earn $FORGE, which, at the time of writing, is worth $0.20. With $FORGE, you can use it to enter and participate in raffles.
  • First-come, first-serve giveaways are now being implemented on Mercury for holders.
  • Be part of a tightly knitted community that has an interest in improving the NFT experience for all.
  • Free access to sales and listing bot services.
  • Access to the pro version of Solfolio.

Aside from that, users can also expect to receive notifications for whitelists, raffles, and auctions on Mercury given the recent integration with Dialect.

Closing Thoughts

It is clear that Blocksmith Labs has delivered immeasurable utility to their holders. The latest launch, Bifrost, is just not just a value add to the community but also serves as an additional income stream to the project as well. This continues to result in a virtuous cycle where the team returns the value to holders. In the long term, as more adoption and projects get onboarded, the collection would definitely see greater demand.

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