A gang of CryptoPunks OG and TreasureDAO’s grievances

After nearly 7 months of waiting, 10,000 8liens finally “landed” on the Ethereum mainnet. In just over 3 days, the trading volume of 8liens has exceeded 3,000 ETH, successfully causing an “alien storm”.

A gang of CryptoPunks OG and TreasureDAO's grievances

8liens is currently at No. 5 on the OpenSea weekly list, and the owl is just around the corner

This “alien storm” has withstood the test and has not stopped. At the beginning of the whitelist casting, the “paper hands” launched their first attack. The floor price was once smashed to 0.1 ETH, but soon returned to above 0.2 ETH. After the public sale, the “paper hands” attacked again and more violently, and there was even a transaction record of less than 0.1 ETH. Although it was smashed harder, the repair was actually faster. It only took about half an hour to complete the repair at the floor price.

A gang of CryptoPunks OG and TreasureDAO's grievances

Alien’s “paper hand resistance” is full

At present, the floor price of 8liens remains above 0.5 ETH, and this success has surprised many people – indeed, we haven’t seen such an Old School project with a turbulent rise in a long time.

To play Old School, you have to rely on the background

Do you have Token? Are there games? Is there a Metaverse? 8liens’ answer is no, no, or no.

What is there? There is Free Mint, there is zero royalties, there is CC0, no more. The 8liens team’s positioning of the project is “NFT art”.

A gang of CryptoPunks OG and TreasureDAO's grievances

In the picture above, the team also mentioned that the inspiration of 8liens came from CryptoPunks, and they also used practical actions to Respect the old OG – the only source of income for the team is 8liens, which retained 10% of the total, and left 10% of the total. for project development. Additionally, the team plans to have its own marketplace like CryptoPunks.

The positioning of the project into such Old School’s “NFT art” is destined to be very hard-core – “art quality” in the left hand and “team background” in the right hand, it is really difficult to find a third axe. “Art quality” is a matter of opinion, and 8liens has not yet opened a picture, so it is impossible to talk about it for the time being. But on the “team background”, 8liens is tough enough.

The two advisors of the 8liens team, Bharat Krymo and NooNe0x.eth, are both members of 6529 Capital, a well-known NFT collector 6529. The three founders, punkvandelay, Debussy.eth and Scalynelson, are also early collectors of CryptoPunks. The power of the connections of the CryptoPunks OG people is evident from the blue chip rate of 8liens.

A gang of CryptoPunks OG and TreasureDAO's grievances

8liens blue chip rate and position of some blue chip holders

Not only that, darren.eth, 0x4c0dbe2bfa35c379788d0d5b1d7f2e749945509f and 0x84e01061fa6b69c1629e3578d988eb20cb73a677 (holding 109, 99 and 68 respectively), which are currently the top three holdings, are really not even on the shelves. It is worth mentioning that Steve Aoki also bought 10 8liens.

A gang of CryptoPunks OG and TreasureDAO's grievances

In terms of artists, Unstable Kido, the main artist of 8liens, is from South Korea and started to create NFT art in early 2021. The total transaction volume of his works on Foundation and OpenSea exceeds 250 ETH. In addition, there are 16 1/1 8liens created by 16 different artists, including CrypToadz founders gremplin, Bryan Brinkman, Alpha Centauri Kid and Hackatao, which have been revealed.

Without such a strong background, it is almost impossible to bring an Old School-style project to such heights. After reading this, it should be relatively boring – nothing more than another typical example of the “attention economy”. But what’s interesting is that 8liens’ previous plan was to release it on Arbitrum, and it wasn’t until the end of July that it officially announced that it would bring “alien” to the Ethereum mainnet.This involves the feud between 8liens and the famous Loot derivative project TreasureDAO on Arbitrum.

From Smoliens to 8liens, from Arbitrum to Mainnet

At the beginning of the article, the “close to 7-month wait” was mentioned, so let’s turn the clock back to the beginning of the year.

At that time, the ace NFT project on Arbitrum, that is, Smol Brains of TreasureDAO, had a maximum unit price of more than 10,000 US dollars, and both price and popularity were at their peak. The popularity of Smol Brains caused a series of derivative projects starting with Smol to sprout up. With the help of the high popularity of Smol Brains, these derivative projects quickly passed the difficult cold start stage and quickly gathered traffic. , 8liens is one of them. 8liens at that time, called Smoliens.

By the end of February, the “honeymoon period” between Smol Brains and 8liens was over. The core of the problem was that the development ideas of the two conflicted. What 8liens wants to do is a CryptoPunks-like project with zero royalties and its own trading market, which is contrary to the development of TreasureDAO – TreasureDAO has its own NFT trading market Trove, they support derivative projects, let projects enter Trove, and collect royalties To distribute and support the development of itself and various derivative projects, royalties are very important to TreasureDAO. The house leak happened to rain overnight, and Trove’s launch was postponed again, which also made 8liens unwilling to wait any longer.

TreasureDAO felt betrayed and believed that 8liens did not want to participate in the construction of TreasureDAO. The two sides had a fierce quarrel in an AMA. 8liens did not consider themselves to be a derivative project of Smol, and even said “We don’t care about your Token ($Magic )” such heavy words.

Since then, the two sides have completely parted ways, and Smoliens has changed its name to its current name, 8liens. Then, the market situation changed and entered a bear market. TreasureDAO finally launched Trove in June, but its performance was not satisfactory. So far, the total market volume is around 160 ETH.The price of NFT is no longer as brilliant as it was at the beginning of the year, and Token has fallen from the highest point of $6 to less than $1 today. 8liens fell into a long silence, with almost no news except for the preview on Twitter.

Until the end of July, the 8liens team finally revealed on Discord that they believed that Arbitrum was “not mature enough” and decided to move the project to mainnet issuance. Today, the floor price of 8liens has surpassed that of Smol Brains. Although the separation caused by the difference in development thinking is inevitable, people are always willing to think “what if” – if in another parallel time and space, Smoliens stayed in the TreasureDAO ecosystem and listed on the Trove market, then the two would create a joint venture. Brilliant?

“Thinking about it, it’s the most emptiness of pain”… Let’s all be well and move forward separately.

A gang of CryptoPunks OG and TreasureDAO's grievances

Epilogue

In the community of 8liens, I found some holders of Old School with the same tonality as this project – they simply like this pixel-style “alien”, and they got the white paper early by writing stories and other methods. The list, laughing at the price ups and downs after casting, stands still.

I’m used to rushing, I’m used to “paper”, is the joy and emotion of collecting a favorite small picture as an avatar still there? No matter how long the “alien” story can be, I wish they could bring back such a little “idiot”, such a little “silly”…

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a-gang-of-cryptopunks-og-and-treasuredaos-grievances/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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