An in-depth look at 3 popular NFT collections: PhantaBear, OxyaOriginProject, and Flyfish Club
In this second January 2022 edition of the New Dapps Report by DappRadar, we look at three popular NFT collections: Oxya Origin Project, PhantaBear, and Flyfish club. The New Dapps Report serves as an executive overview and analysis of financial metrics for NFT collections.
The New Dapps Report series consists of executive reports that provide readers with a high-level perspective of new and promising randomly generated NFT collections. The report focuses on financial metrics like sales activity and price analysis and distribution metrics like Unique Holders Ratio and the Whale Concentration Index. Furthermore, it dives into whales’ behavioral patterns and detailed social and technical overviews.
2022 is off to a great start, with the NFT market picking up steam after a cooling off period at the end of last year. In this edition of the New Dapps Report, we chose three NFT projects that gained prominence in the first two weeks of January to mark this resurgence. Each has shown potential based on the factors that we consider in our analysis.
First, we take a look at PhantaBear: a collaborative project between Chinese production company Ezek Group and the PHANTACi fashion brand by Chinese ‘’King of MandoPop’’ Jay Chou. The collection features fashion designs by Chou himself. PhantaBear has taken the NFT world by storm since its launch on January 1st and, with a volume of nearly $29 million, at the time of writing ranked 11th among the most traded collections in the last 7 days.
We will then take a look at the Oxya Origin Project: a project made by a group of veterans from the games and movie industries. They seek to create a unique playable universe powered by NFTs. The collection of avatars launched on January 6th, but already reached $14 million in trading volume and therefore ranked as the 21st most traded collection in the last 7 days.
Finally, we take a look at Flyfish Club, a collection made by the VCR Group headed by industry veteran Gary Vee. This NFT collection gives token holders an haute-cuisine seafood dining experience in one of New York’s most prestigious restaurants. With a volume of $5.6 million, the collection traded at 49th place for the last 7 days.
Please, do not consider this document financial advice.
Data updated on: Jan 17, 2022
Table of Contents
Key Takeaways
- PhantaBear – Jay Chou’s fashion inspired collection with strong appeal in the Chinese market has taken the NFT world by storm with a trading volume of $82,483,438 in a little over 2 weeks.
- Oxya Origin Project – A collection of unique expertly crafted 3D avatars by entertainment industry standards. These will be the basis for the genesis of a complete future gaming experience. The initial trading before the art reveal sits at a total volume of $35,220,818 since the launch on 6th of January.
- Flyfish Club – An NFT collection that launched late December, but is currently going through a second wave of attention, as information about the fine dining experience is revealed. Currently Flyfish Club traded a total volume of $22,805,903. Most of the trading (68%) happened in the last 7 days.
PhantaBear
- Blockchain: Ethereum
- Launch date: Jan 1, 2022
- Edition size: 10,000 – Limited Edition
- Traits: 8
- Attributes: 142
PhantaBear is a collaboration between Jay Chou’s fashion brand PHANTACi and development group Ezek. They joined together to create a collection of 10,000 bear NFT avatars designed after clothing brand PHANTACi. This endeavor proved to be highly successful. The collection is barely two weeks old and it has the 9th largest trading volume for NFT projects trading in the last 30 days and the 11th largest for collections traded in the last 7 days with a volume of over $28 million.
Jay Chou is one of China’s most successful celebrities and is somewhat of a renaissance man. He started a career as a pop star but soon became an actor, a film director and a successful fashion entrepreneur. The hype and financial success of this collection can largely be attributed to his popularity and business acumen.
Added Utility
PhantaBear seeks to leverage the partnership with Jay Chou to establish a strong multimedia presence on the metaverse. The roadmap details many rewards that will be distributed throughout the year. The holders of PhantaBear will be entitled to many other goodies as the project unfolds.
The road for the whole year has been laid out. Each quarter entails the following highlights:
Q1 focuses on rewards from the Ezek club and celebrity partnerships:
- PhantaBear holder enjoy 10% discount on all Phanta Merch
- Holders will receiver Ezek community airdrops
- Priority minting access to future partnerships with other celebrities
Q2 seeks to establish an online multimedia platform:
- Access to virtual concerts on phone or VR
- Entry to Entertainment Metaverse
- And access to Ezek Virtual Cinema
Q3 will focus on physical rewards and VIP events:
- Holders will receive physical gifts
- Access to private VR club
Q4 will hold a first virtual concert and expand the brand:
- Access to Ezek Virtual Concert
- Launch Ezek Entertainment metaverse
The utilities are heavily focused on tech savvy media enjoyers as a lot of secondary utilities are related to partnerships with other media stars and development of a new multimedia platform.
Financial Overview
Despite being just under 2 weeks old at the time of writing, PhantaBear has surpassed $57 million in trading volume and is the 4th most traded collection in the last 7 days.
The top-grossing sale happened just 11 days after launch and PHANTA BEAR #9999 sold for 148 ETH, or $496,984. Early minters enjoyed a floor asset appreciation of at least 1380% .
- Mint Price: 0.26 ETH (Ξ)
- Current Floor Price: 3.85 Ξ (1380% up from mint price)
- Floor market cap: 38,500 Ξ / $ 125,048,000
- Average sale price: 4.96 Ξ / (1807 % up from mint price)
- Highest sale: PHANTA BEAR #9999 for 148 Ξ / $496,984
- Initial revenues: 2,600 Ξ
- Unique holders (ratio): 5,278 (52%)
- Total Volume: $82,483,438 / 25,097 Ξ
- 7 day volume: $28,828,366 / 9,002 Ξ
- Buyers vs Sellers ratio: 1.04 (8,659 / 8,257)
- Traders: 15,285
- Secondary market royalty: 0%
Social Awareness and Engagement
PhantaBears has a strong social media presence and shows impressive stats for a young collection. Their Discord server launched late December however it already has over 49,000 users. It uses mobile phone registration and extensive moderation to prevent bot spam and bad actors. The channels are all very active with a strong community being built around the project. Their Twitter was set up around the same time as the Discord and currently has around 24,500 members with an average daily growth of 700 new followers. Considering that the target audience for this project is Chinese it is likely most of the followers use their national social media channels.
Team Overview
The team development team of Ezek is made of 3 founding members.
- Will L – lyrical collaborator with Jay Chou
- Mark G – A Hollywood educated filmmaker who wants to bring his entertainment experience to the blockchain
- Ed Ow – UC Berkeley educated entrepreneur who previously worked for HTC Corp.
Little real life information is known about the team and no public information is available. This may have been done to protect their identities from Chinese authorities. The absence of real life information about the team does raise concerns over potential malfeasance.
Technical Overview
As for the majority of the NFT projects, the metadata is stored on central servers and hosted on Ethereum through IPFS. Not ideal, but the IPFS is working properly.
- Audit status: no audits committed yet
- Storage: PhantaBear NFTs are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS for immutable ownership.
- Contract address: 0x67d9417c9c3c250f61a83c7e8658dac487b56b09
Whale Wallet Analysis
PhantaBears is not a very well distributed collection with a Unique Holders Ratio of nearly 50%. A lower ratio indicates a higher vulnerability to price fluctuations as a result of whale activity.
The Whale Concentration Index is likewise quite high at 8.52%. A higher whale concentration means a higher risk of price manipulation. There are no prominent whale investors who are among the top holders of this project which may indicate a lesser viability / security of this project.
- Whale concentration ratio: 8.52% – 852 pieces
Oxya Origin Project (OOP)
- Blockchain: Ethereum
- Launch date: Jan 6, 2022
- Edition size: 7898 – Limited Edition
- Traits: 14
- Attributes: 351
Oxya Origin Project is an avatar collection made by a group of 3D artists and designers. Some members of the team have previously worked on Netflix’s animated series Arcane and The Witcher, as well as Ubisoft’s action video game Far Cry 6. The collection consists of 7,898 generative 3D avatars with utilities in the Oxya Origin Ecosystem. It currently ranks as the 21th most traded collection in the last 7 days. The NFT collection is barely a week old, but it has already sold more than $35 million.
Besides the 3D avatars the team has ambitious plans to create an expanded playable universe where players can fight, conquer and trade.
Added Utility
The OOP project roadmap is very packed for 2022, as every quarter will have many exciting updates for the collection. In Q1 the team will introduce the first gameplay elements and they will reveal the tokenomics for the project. After that, in Q2 the project will introduce a land sale, monthly quests and in-game items shop.
Then in Q3 they will add more utility to the lands in the form of rent and token payoff. Some players will be able to ascend to nobility status and receive 10% of allocated royalty fees. Finally in Q4 OOP will have a comprehensive marketplace, PVP land rewards and the project will reveal the Oxya Universe. Past 2022 the team will focus on expanding the universe and wider integration into the metaverse.
Financial Overview
OOP is quickly gaining traction. The collection has completely sold out and despite being slightly older than a week it’s the 18th most traded collection in the last 30 days. The minters are enjoying a floor asset appreciation of 40%. So far 82% of all trades have been profitable which indicates that prices and the demand for this collection are rising. It has over 11,000 token holders which increased by over 3,000 since the release of the avatar art on Friday 14th of January.
- Mint Price: 0.3 Ξ,
- Current Floor Price: 0.42 Ξ (40% up from mint price)
- Floor market cap: 3,317.16 Ξ / $10,840,478
- Average sale price: 1.14 Ξ / 3,725.52 (280% up from mint price)
- Highest sale: Legendary Oxian for 30 Ξ / $98,040
- Initial revenues: 3159 Ξ / $ 11,240,433.6
- Unique holders (ratio): 4,077 (51,6%)
- Total Volume: $35,220,818 / 10,641 Ξ
- 7 day volume: $14,287,844 / 4,352 Ξ
- Buyers vs Sellers ratio: 0.97 (5,929 / 6,116)
- Total Traders: 11,505
- Secondary market royalty: 0%
Social Awareness and Engagement
OOP has a phenomenal reach considering that the social for the project has been launched in mid-December of 2021. Their Discord has already amassed more than 230,000 users, and all channels tend to be active. They use mobile verification as well as extensive moderation to ensure a minimal presence of spam bots and malicious actors. Their Twitter account has more than 71,300 followers and grows 2,142 per day. They also have an Instagram account with a following of over 23,800 users, which they predominantly use to leak upcoming character designs.
Team Overview
The OOP team is rather large, having over 30 people working on the project, including artists, designers, coders as well as financial experts.
The team is lead by:
- Maxime Delcambre – Project leader, Ubisoft concept artist who made art for their Watch Dogs titles.
- Laury Guintrand – Senior concept artist who previously worked on the Avengers and Netflix’s Witcher series
- Gaetan Simonot – A character artist for Ubisoft who also worked on Netflix’s Arcane, a critically acclaimed 3D animated film set in the League of Legends universe.
- Seth Pyrzynski – Award winning global gaming professional and strategic development director who previously worked for Blizzard and Riot Games
- Richard Hamelin – Chief of Innovation and Project manager
- Nathalie Taieb – Senior Leader for Analytics and Marketing who previously was COO of Xerox as well as VP of Logitech
The team are veterans in their respective fields and have made themselves public, which lends credence to the project.
Technical Overview
There are no major concerns from a technical standpoint. Like most of the NFT projects, OOP metadata is stored using IPFS rather than being fully on-chain. Not ideal as the smart contracts and the metadata are separate, but IPFS is working properly. A challenge that is common in visually rich metadata projects.
- Audit status: no audits committed yet
- Storage: OOP NFTs are stored as ERC-721 tokens on the Ethereum blockchain and graphical assets hosted on IPFS for immutable ownership.
- Contract address: 0xe106c63e655df0e300b78336af587f300cff9e76
Whale Wallet Analysis
Whale analysis of OOP shows a whale concentration ratio of 4.15% which is a below average value. A higher whale concentration in a collection indicates a higher risk of market manipulation and stronger price fluctuations.
The Unique holders ratio of 58% is rather low. A lower holders ratio indicates a higher risk of being affected by whale trades. Among the top 5 holders is a known NFT flipper ajin.eth in the 2nd place and in the 6th place we have the famous Pranksy who has 51 Oxians. The presence of high-profile whales lends credence to the project’s viability and raises the profile of the collection. This often increases the trading activity during acquisition and also during the sell off should it ever occur.
- Whale concentration ratio: 4.15% – 328 pieces
Flyfish Club (FFC)
- Blockchain: Ethereum
- Launch date: Jan 7, 2022
- Edition size: Total supply 3035, Flyfish standart (FF) 2650, Flyfish Omakase (FFO) 385, (1,535 currently available) – Limited Collection
- Traits: 3
- Attributes: 362
Flyfish Club is a unique NFT collection that centers around offering a top shelf dining experience to its holders. It is created by the VCR Group made up of Gary Vaynerchuk, David Rodolitz, Josh Capon, and Conor Hanlon. It’s a team of passionate culinary and hospitality industry experts.
Despite launching in mid December last year the collection is picking up a lot of attention in the first weeks of January. It is the 49th most traded collection in the last 7 days with a trading volume of $5,635,429.
Added Utility
Utility is king for FFC and it sets itself apart from most other collections with its unique offering. The holders of the token will have exclusive access to an elite dining experience in seafood themed restaurants. The first restaurant will be built in New York between Q1 and Q2 of 2022. Importantly, owners can rent out their Flyfishtokens to others for a fee to gain access to its privileges.
The access and pricing is two tiered. The Basic FlyFish token(FF) allows access to all the restaurant privileges. The Flyfish Omakase (FFO) token rewards the holders with all the same privileges but also grants access to the Omakase room.
Moreover the project roadmap details many upcoming rewards for the token holders which will be made available throughout the year.
Those include:
- Cooking demonstrations from the internationally acclaimed Chef Josh Capon
- Private Omakase tasting as the luxurious Ito Restaurant in New York
- Wine tasting with Gary Vee
- Private pop-up events
Financial Overview
The collection launched in mid December however it is picking up steam in the first week of January with 68% of the total trading happening in the last week. The collection has a 7-day trading volume of $5,635,429 and it is the 49th most traded collection according to data on DappRadar. The Flyfish Club collection has slightly over 2,000 traders which is not much, but nonetheless impressive for a small niche collection.
Depending on the type of token that one chose, the early minters enjoy a floor asset appreciation of 66%.
- Mint Price: 2.5 ETH for FF / 4.25 ETH for FFO
- Current Floor Price: 6.99 Ξ / 22843.32 (179,6% up from mint price)
- Floor market cap: 21,214.65 Ξ / $69.329.476
- Average sale price: 5.59 Ξ / $18.268,12 (123% up from mint price)
- Highest sale: Flyfish Club Omakase Member #111 for 19.45 Ξ / $ 63,562.6
- Total Volume: $22,805,903 / 6,826 Ξ
- 7 day volume: $5,635,429 / 1,709 Ξ
- Unique holders (ratio): 1,199 (78.1%)
- Buyers vs Sellers ratio: 1.27 (1,221 / 964)
- Traders: 2,130
- Secondary market royalty: 0%
Social Awareness and Engagement
FFC is a rather niche collection; its social presence reflects its stature. The Discord server for FFC was launched on Jan 3, 2022 and it already has over eleven thousand users. The registration is fairly basic and requires the user to only accept the server rules to proceed. Despite being very populated there are no open chat channels and the four present channels are for admin purposes only.
The FFC Twitter account launched in January 2022 and currently has 987 followers. While the FFC Instagram profile has over 4000 followers and is mainly used to promote culinary dishes from the future restaurant.
Team Overview
FFC is developed by the VCR group, a collection of professionals from the restaurant and hospitality industry who came together to bring this project to life.
- Gary Vaynerchuk – Founder and Chairman – CEO of VaynerMedia advertising company serving fortune 100 clients. Gary is also well known in the crypto space for his VeeFriends collection.
- David Rodolitz – Founder & CEO – New York hospitality industry veteran of over 20 years who has vast experience in owning and operating restaurants
- Josh Capon – Founder & Chief Culinary Officer – Internationally acclaimed Chef, he worked in restaurants all over the world and was very well known in the New York restaurant industry.
- Conor Hanlon – Partner & Executive Vice President of Operations – Conor has worked himself from the bottom to the top positions of the hospitality industry and has extensive experience in operating hotels and restaurants.
The entire team is completely public and all of whom have a positive reputation to their name. The team can be considered competent and professional, which lends a lot of credibility to this project.
Technical Overview
There are no major concerns from a technical standpoint.
Like most of the NFT projects, FFC metadata is stored using IPFS rather than being fully on-chain. Not ideal as the smart contracts and the metadata are separate, but IPFS is working properly. A challenge that is common in visually rich metadata projects.
Audit status: no audits committed yet
Storage: FFC NFTs are stored as ERC-721 tokens on the Ethereum blockchain and graphical assets hosted on IPFS for immutable ownership.
- Contract address: 0xc9d8f15803c645e98b17710a0b6593f097064bef
Whale Wallet Analysis
FFC is a very well distributed collection. The whale concentration which is the percentage of assets owned by highly affluent traders is below average at 3.06% which is very good. Lower ratio indicates a reduced likelihood of market manipulation. The Unique holders ratio is at 76.6% which indicates a very high dilution of owners. The higher the holders ratio is the less sensitive is the collection towards sudden price changes as a result of selloffs.
Among the top 5 whale holders are known flippers jsteezy.eth and tripwards.eth. The interest of prominent whales lends credence to the project as it has the potential to bring increased interest in the project. One should be aware of the risks of following large whale trades. Their exit from the project can precipitate a selloff.
- Whale concentration ratio: 3.06% – 47 pieces
Summary
PhantaBear is a collaboration project between the Ezek Group and Jay Chou. It is currently the 11th most traded collection in the last 7 days with a volume of $58,216,120. The collection’s floor price has appreciated 1380% since the minting. It has over 15,000 unique traders and it owes its success to the immense popularity of Jay Chou as a pop star and his business acumen as a businessman. This collection has a very strong Chinese audience and is tied to the development of multimedia projects.
Oxya Origins is an ambitious project headed by a large development team of 3D video entertainment industry professionals that aims to create a comprehensive gaming experience with unique visuals. It has over 11,000 unique traders which is rising daily. The collection is the 21rd most traded collection with a volume of $14,295,127 in the last 7 days, after the artwork was publicly released on Friday 14th at 8PM CET the trading increased significantly.
Finally we have the Flyfish Club which is a unique NFT utility offered by the VCR groups. The group is made of professionals from the restaurant and hospitality industry and aims to offer the holders of the token a top shelf seafood dining experience like no other. It is a relatively small collection with a 7-day trading volume of $5,635,429. It has piqued the interest of many high profile NFT traders many of whom are represented in the top 10 holders wallets which lends this project much credence and is worthy of attention.
