There is an NFT project on the Solana blockchain that stands out amongst all others. Its unique art often throughs speculators and collectors. This collection often trends in the volume chart, it’s none other than the ABC NFT Collection.
In this article, we will explore the ABC NFT collection and outline what makes the ABC NFT collection unique. Let’s dive to learn more about it.
Source: Dribbble
What is the ABC NFT Collection?
ABC is an NFT collection consisting of 10,000 unique digital assets. Its formal name is the ABC Abracadabra NFT Colelction. And, it is designed to remind people of how entertaining things were when they were children. Each NFT has a distinct letter of the alphabet.
The ABC-Abracadabra collection was created by an anonymous artist who goes by the name of “The Mad Hatter.” The artist has said that they wanted to create a collection that would bring back fond memories of childhood and inspire people to never stop having fun.
The collection is notable for having no royalties, meaning that the creators of the NFTs will receive no additional compensation if they are resold. With its 0% royalties, the collection has amassed a huge trading volume of 2.4M $SOL.
A Completely Unusual Launch
The collection was released on August 23, 2022. When launched, NFT collections often stick to a well-known rule:
- Marketing via social media.
- Collection minting.
- Secondary market listing.
- ABC was able to violate this rule because of a person by the name of HGE.
Whether it is on Solana or Ethereum, HGE is a renowned part of the NFT ecosystem. He has a huge impact across Twitter and within the networks he has established. He is particularly well-known for his seemingly limitless portfolio. as well as his original thinking and firm views.
The ABC NFT collection began as an experiment. The NFT collection aims to create a completely decentralized collection that belongs to the community. HGE created an NFT collection and then personally minted it to accomplish his goal. Following that, he listed the complete collection on the secondary market and informed his communities about his project:
- No social media, no staff, and no project.
- Null Mint
- Complete collection listed on Magic Eden for 1.23 Solana
- Except for the 2% taxes charged by Magic Eden, there is no tax (royalties) on the selling of your NFT.
Users were quickly drawn to these approaches because they broke all established codes. Additionally, HGE didn’t stop there.
The Uniqueness of the ABC NFT Collection
HGE went on to declare that the collection is unchangeable. In other words, there is no turning back. The collection is in the blockchain permanently sealed, and it is no longer subject to modification. For one reason or another, developers typically preserve access for potential future modifications. Yet the ABC NFT collection went against this approach.
It’s a double-edged sword. When preserving access the team still has the option to fix any visual problems and they may also change your NFT at any time. As a result, you are not the only owner of your NFT.
Therefore, HGE is upending the Solana ecology by providing a decentralized collection that you are the sole owner of.
Source: Twitter
0% Royalties and No Project has been Declared
This is crucial because, at first appearance, you could assume that HGE has merely assembled a number of NFTs for aesthetic purposes.
He began by making the following announcement on his Twitter page:
Source: Twitter
Therefore, potential investors are cautioned and advised to purchase their NFT from HGE with full knowledge that nothing may emerge around this collection.
However, the project has been a total success. The immediate impact of HGE’s great influence and its innovative introduction on the community so the floor price rise and FOMO to arise. The entire collection sold out in a matter of hours, which caused problems for Magic Eden as its servers were unable to handle the surge in demand.
No Utillity, Just Art
Trading aside, others may be unfamiliar with collecting NFTs for art. Collectors and holders often want updates and information on the team’s developments. If holders want to invest in a team to ask questions about this project, collecting ABCs wouldn’t be ideal. There is no team or utility for the ABC collection; it’s pure art. ABC holders have full control over it.
Since ABC owners can do as they please, they can also create projects benefiting the ABC art collection. The unofficial ABC discord often receives inquiries about staking, but there is no team to build or maintain it.
Hadeswap aims to benefit ABC collectors by offering an NFT AMM protocol. It plans to provide emissions to ABC holders in the form of its governance token, $HADES, based on future votes by $HADES holders.
ABC Community
There is no team behind the project. However, HGE did encourage each person in the community to step up and be active. A discord was formed to cater to this community. And is now an active ingredient in the collection’s success. ABC places the collector at the center, which has a beneficial effect because each member starts to talk about what they might develop around this collection.
Based on the characteristics of the various NFTs in the collection, sub-communities are formed: Fighters / Spaceboys / Dogs / Monsters / Stars / Mermaids / Aliens / Naughty Cats
These SubDAOs enable the development of sub-conversations, which in turn facilitates the emergence of viable community projects.
ABC Collection in Numbers
The collection saw tremendous trading volume, with $500,000 traded on day one and $870,000 traded on day two.
The sale of the 10,000 NFTs enabled HGE to bank 12,300 Solana. HGE has committed those funds openly in order to benefit the ABC community and the ecosystem as a whole.
Because there are no royalties on the collection it automatically becomes appealing to NFT Traders. Each trader, collector, or speculator may more easily turn a profit on their purchase or resale, which helps drive up the price of the collection.
The current price floor for ABC is 25.5 $SOL. The collection has a 24-hour sales volume of 1,285 SOL. The collection consists of 9,998 unique NFTs. The whole collection was minted on August 22, 2022, at the price of 1.23 SOL.
The collection includes began with 10,000 NFTs but there is a “warp” that is ongoing – currently the collection is at 3.4K and a number of NFTs have been warped.
With the current trend of Ordinals of BTC NFTs the ABC NFT collection is offering holers to move Solana-based NFTs to BTC. This enables holders to inscribe their NFTs forever as digital collectibles on-chain. The move will mean that the NFTs on Solana will be burnt in the same NFT inscribed on BTC.
ABC NFT is also a CC0 Collection
Additionally, the ABC collection is CC0, which denotes “No Rights Reserved” content. A Creative Commons Zero NFT, or CC0 NFT, is one in which a work of digital content’s intellectual property rights has been waived. Using CC0 NFTs is completely lawful and has no consequences. This enables owners of previously copyrighted works to renounce their ownership of the IP at issue and release it into the public domain. This indicates that there are no copyright laws in effect, therefore people are free to use the IP any way they see fit.
Source: ABC123Community
Octo Gaming & ABC NFT collection
Members can earn money by playing video games on the Octo Gaming social gaming platform, which has 3 million members and is freely downloadable from the Apple App Store and Google Play Store. A brand-new game called “Origon” was made available by Octo Gaming. This is regarded as the top mobile gaming destination on Solana.
Furthermore, the game is in collaboration with the ABC NFT collection. The result of two months of arduous work, testing, and cooperation with HGE and Frank from Hadeswap made this become a reality.
The Octo announcement facilitates massive mass market adoption for SOL and makes the Solana ecosystem shine.
The game takes place in the world of ABC NFTs, where an Octo envisions himself as a young boy riding a red dragon (which, represents the cover of the ABC collection) and safeguarding the ABC world.
Conclusion
The ABC NFT collection made its distinct entrance into the NFT space. Its artwork, reminiscent of a 5-year-old’s style, can be easily misunderstood. Despite clear warnings against purchasing, investing, or expecting profits, the complete opposite has happened.
At the time of its launch, it bought Fun into the NFT space, and those that took the risk made huge profits. Although different, the collection is visually appealing and is backed by a recognized figure in both Solana and Etheurm NFT communities. Over time, the collection has built a strong community of supporters. With its recent “warp” activities taking place innovation remains at its core. We can certainly expect this collection to remain relevant as the NFT scene continues to mature.
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