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JAKE
@jake
Underdiscussed is the fact that Base Gods has pulled away as the highest floor NFT collection on Base by a considerable margin (~4x > onchain gaias). Market cap however is second, only half that of OGs, because there are only 807 BGs. I personally am of the opinion that the highest market cap NFT collections on Base in the long run will be categorically different from those which have done best on Ethereum. I believe they will be larger supply, lower floor collections such as @basecolors because, unlike on the L1, txn costs on Base no longer necessitate a high floor in order to make transacting make sense. On, Ethereum it was silly to pay $10 in gas for a $5 NFT unless you thought it was going to appreciate tremendously. On Base, you can buy a $3 NFT like a color no problem. Gas is usually less than a penny, or sponsored and free. So you can have a much higher supply collection because you don’t have to worry about a floor too low to be problematic with fees. All else equal, the more holders the better.
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JAKE
@jake
A related essay on the thought process behind deciding price and supply for Base Colors: https://paragraph.xyz/@basecolors/price-and-supply
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