Launched with the minting of 8,888 vampire NFTs, the highly anticipated Sneaky Vampire Syndicate is now available. The generative art collection comes from artist Migwashere, who is the former artist for the Bored Ape Yacht Club NFT.
The Sneaky Vampire Syndicate NFTs (ERC-721) utilizes cartoon vampire images as tokens, which are issued on the Ethereum network. The users’ vampires were purchased for 0.08 ETH apiece, which was approximately $313 per person. Nearly 50,000 individuals have joined the project’s Discord channel in only two weeks after its launch.
Sneaky Vampire Syndicate has maintained a top 5 rank in terms of NFT trading volume on OpenSea since its launch, joining the ranks of CryptoPunks and ArtBlocks.
A More Fair NFT Launch
The token launch has resulted in 4,600 token holders, with current statistics indicating the number of unique holders growing to nearly 5,000 users. The team developed a mechanism to ensure that all buyers were given a fair chance to acquire NFTs. The team did not use the traditional method of employing gas-guzzling mints to create spots in place of the option of letting people register for space with their wallets without having to pay fees.
In this way, participants who missed the public auction did not need to pay for gas costs for transactions that did not complete. People may expect to pay over $5000 for a particularly unique NFT, as per various cost structures. On the roadmap for the Sneaky Vampire Syndicate is a 2D side-scrolling game that focuses on NFTs. The game is being developed by the independent video game production firm Static City Games.
NFTs Entering the Mainstream of the Art World
The original NFT, CryptoPunks, set a new record in May with a single bundle selling for $16.9 million. His work was also sold in the form of a non-fungible token (NFT) for $69 million in March. Because there are over 100 items on today’s auction block, it’s difficult to compare their results to the one transaction that Beeple had. That said, the auction purchases clearly indicate that there’s still significant demand for NFT art and that bidders believe that they’ll be able to make a good return on their investments in the future as the market grows.
In April, two Sotheby’s transactions were made by Yuga Labs, creators of Bored Ape Yacht Club, or BAYC. 10,000 apes were randomly created with distinct, randomly assorted accoutrements to give them a fashion-forward appearance.
One of the perks members of the titular club (so far, mostly access to merchandise drops, extra NFTs, and the usage of an online graffiti board) enjoy is being allowed to have apes. The Bored Monkey Kennel Club, a series of NFTs that were subsequently delivered to ape owners, was a program that provided the apes with activities to pass the time. Sotheby’s recently auctioned off the first bundle of 101 Bored Ape Yacht Club NFTs for $24.4 million. The Kennel Club’s other 101 Bored Ape NFTs traded for $1.8 million.
As Sneaky Vampire Syndicate is a newcomer to the NFT field, there looks like much work will need to be done for it to reach the level of “blue chip” NFT tokens. Only time will tells, but the huge level of interest in the project in terms of trading volume and social media presence looks like a good sign so far. It also helps that the project involves a veteran blue chip NFT artist, Migwashere.