This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

BULLS ON THE BLOCK - Siblings Skip to main content

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

This is not financial advice. It is insights on what we see in the market and how we, personally, will act accordingly.

BULLS ON THE BLOCK

WHAT IS “BULLS ON THE BLOCK”?

  • The Project – Bulls on the Block is a new programmatically generated collectible project, launching this weekend. While the market is crowded with such projects, BOTB has certainly caught Crypto Twitter’s eyes for the flair of its art.
  • The Bulls – 10,000 bulls divided into 5 different species, each with their own types of mouth and eyes. Besides species, all bulls will have access to different traits including background, basis, horns, eyes, mouth, glasses, earring, hat, clothes, and chains.
  • The Team – it is composed of Rui Duarte, an award-winning Portuguese professional illustrator, already well known to the community thanks to his many NFT projects and cool ape derivatives, and two developers, both Dutch and in their late 20s with a gaming background. The project is far from being a rip-off of other existing collectibles as the team has been working on it for over a month trying to create something utterly unique.

 

WHAT MAKES THEM DIFFERENT?

  • The Art – what really sets this project apart is the quality and effort that has been put into the art. Rui has hand-drawn hundreds of bulls and characteristics with his typical captivating style and the result is these gorgeous, funny, and playful bulls.
  • Public reception and hype – thanks to the first pics shared on Twitter and Rui’s reputation, BOTB started to gain traction weeks before launch. Comments on Twitter and around the various NFT-related Discords are all in agreement about the pleasantness of the art and the early intention of collectors to “ape” into this drop. Hype is certainly critical for the immediate success of a drop and BOTB seems to have created alot of it. Their Discord server is also sitting at around 3k members.
  • The Community Wallet – another important element of this project is the “Community Wallet”, which will receive 50eth when 100% of the drop is allocated and will receive 2% of each secondary sale going forward. This money will be spent based on the community’s vote around events, education, art, and crypto initiatives.

 

COLLECTIBLE DETAILS AND DROP MECHANICS

  • Token – the Bulls are stored as standard ERC-721 token on the Ethereum blockchain and hosted on IPFS.
  • Commercial rights – as for all projects since BAYC, the token holders will have full ownership of all commercial right related to the bulls.
  • Drop date – this weekend (26th or 27th June), exact date TBA.
  • Price – 0.08eth per bull, max 10 bulls per transaction.

To give you a comparison of floor prices of similarly priced projects, Gutter Cats Gang are trading at 0.3eth 2 weeks after drop, while more recent Wicked Craniums and Alien Boys are at 0.22eth and 0.07eth after a few days, respectively.

  • Secondary fees: 3% of sales (as a reference this fee varies from 2.5% for BAYC to 10% for Yetis).

 

RISK

  • Overcrowding in the NFT Collectible market – with new collectible projects launching daily we are approaching the saturation of this avatar/collectible market, which means more and more projects will fail from the gates or shortly after launch