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AlienSwap Emerges as a Contender: its NFT Market May Vie for Supremacy

Before the emergence of ‘Blur,’ OpenSea had maintained an absolute monopoly over the NFT market, holding a dominant position. Despite numerous emerging protocols attempting to challenge OpenSea, all had failed ‘Blur,’ crowned as the ‘Rule Breaker,’ made its appearance.

 

In less than a year, Blur completely reversed the dynamics of the NFT market. Despite an overall contraction in NFT transaction volumes due to a bearish crypto market, Blur consistently held the top position in trading volumes. On the most remarkable day, Blur’s trading volume surpassed OpenSea’s tenfold. The rise of Blur has profoundly disrupted the NFT market landscape, showing us that in the crypto market, anything is possible, and there are no limits to what can be achieved.

 

(Data source: Dune)

AlienSwap

AlienSwap is positioned as ‘the first community-driven NFT marketplace and aggregator, building a leading multi-chain NFT transaction layer.’ Many of AlienSwap’s features are highly innovative and pioneering, making it extremely friendly to long-tail NFT assets. This includes lowering transaction costs to a minimum through Ethereum main-net NFT 0 Gas minting and trading, reducing the barrier to entry for NFT creators with CreateX one-click issuance, and providing comprehensive features such as batch purchases and listings to meet the needs of professional traders

 

 

The core team behind AlienSwap hails from OKX, Binance, HTX, and significant players in the tech industry, with prior experience in developing products that have garnered hundreds of millions of users. Based on AlienSwap’s track record, the team possesses a keen insight into market trends and demands, a strong execution capability, and a knack for details that are disruptive enough to change user habits.

 

In June 2022, AlienSwap officially announced the completion of its seed round of funding led by OKX Blockdream Ventures, with the specific amount undisclosed. In May 2023, the company announced its second round of funding led by C² Ventures and NEXT Leader Capital, with additional strategic investment from OKX Ventures. In this round of financing, AlienSwap secured $12 million in capital.

Alien Score, a large-scale airdrop in the making

Large-scale airdrops have become a standard for launching robust projects, and Blur’s unique airdrop mechanism attracted a substantial number of genuine users, propelling it to become OpenSea’s strongest competitor.

 

AlienSwap is also planning to allocate a significant amount of airdrop tokens for its users. The second phase of the Multichain Space Voyage program has begun, with the airdrop scale expected to be 2-5 times that of the first phase. Additionally, they have introduced a points-based reward system called AlienScore, where users can earn varying amounts of points through activities such as check-ins, minting, placing orders, trading NFTs, and inviting friends. 

 

In future airdrops, points will be proportionally exchanged for $ALIEN, this incentive mechanism aims to distribute the protocol’s rewards more equitably among contributors from all dimensions.

 

AlienSwap’s Multichain Space Voyage program, launched earlier this month, serves as the inaugural event for its Multichain Galaxy initiative. Its primary objective is to expand to more public blockchains and Layer2 chains, thus catering to the trading needs of a broader user base. The core gameplay of the Space Voyage event revolves around time-limited zero transaction fees across multiple chains. Compared to other leading NFT trading markets in the industry, OpenSea charges 2.5% in fees, Element charges 0.5%-2%, while X2Y2 and LooksRare both charge 0.5%. For users with substantial NFT trading demands, especially arbitrageurs dealing with high-value NFTs or those who enjoy bulk trading, these fees can indeed limit their trading desires to some extent. The temporary removal of transaction fees serves to lower users’ trading costs and significantly boost confidence within the NFT industry.

Rewarding Creators:

In the points system, creators will receive additional point rewards, encouraging more artists to release NFTs on AlienSwap and incentivizing them based on their contributions. More creators and more collections mean more users.

 

Creator Transaction Volume Points = User transaction points earned for the creator’s collection * 20%; 

Creator Minting Points (calculated separately for each collection) = 1000 * Collection’s NFT quantity factor * Minting frequency factor * Unique address participation factor;

Incentivizing Traders:

Trading NFTs on AlienSwap, including using AlienSwap’s aggregation trading, allows users to earn real-time point rewards. Trading NFTs on Ethereum, Base, and Linea chains offers 5 times the points with 0 GAS fees.

 

Users who rank in the Top 100 for total points earned within 24 hours will receive a BOOST point reward. The more you trade, the more points you earn. This mechanism is designed to identify genuine NFT holders and traders, attract professional traders to participate and ultimately turn them into loyal users.

Contributor Rewards:

Invitation points play a crucial role in AlienScore. Users earn additional points by inviting more friends to use AlienSwap. This viral mechanism has been successfully validated in numerous project launches and airdrops. Both the inviter and friends stand to receive substantial airdrop rewards, facilitating rapid project dissemination and adoption among users.

 

For VIP2 applicants, the inviter may even receive a 50% points bonus from the invitee. Such a ratio significantly boosts the incentive for existing users to invite others, fostering rapid network expansion.

 

 

The point rewards primarily consist of three main components. For more details on earning points, refer to the previous tutorial: 

https://support.alienswap.xyz/hc/en-001/articles/7775195610767-AlienScore-User-Guide

Multi-chain Deployment, Emerging Dominance

With the successive launch of L2 mainnets, L2 is poised to be the primary battleground for the next bull market. Whether it’s the L2 mainnet itself or the on-chain ecosystem, there is a natural vibrancy and traffic. Multi-chain deployment is the crucial initial step for a project to become a leader in the race.

 

Initially deployed on the Ethereum mainnet, AlienSwap has now expanded to Linea, Base, and supports Scroll Alpha. The effectiveness of multi-chain deployment is gradually becoming evident.

 

According to Nftscan data, AlienSwap’s 1D overall chain transaction volume has surged to the top, capturing a remarkable 34.48% market share. In the 7D overall chain transaction volume, it ranks second with a share of 22.74%.

(Data source: Nftscan)

 

Linea’s data is particularly outstanding, with a staggering 99.87% share in the 1D transaction volume. The daily trading volume has reached $66 million, with 6.5 thousand transactions.

 

(Data source: Nftscan)

 

AlienSwap’s key metrics have experienced significant growth, with a remarkable surge in weekly visits, surpassing 1.7 million in September, marking a 3000% increase compared to August.

 

The user base is also witnessing rapid expansion. According to official data, AlienSwap experienced over a 400% increase in new user registrations during the Token 2049 conference compared to regular periods. The registered wallet addresses soared from 700,000+ to over 3 million. AlienSwap has successfully attracted a substantial influx of new users, further expanding its user base.

 

In the bear market, liquidity tends to shrink drastically, with many users going dormant. This trend is especially pronounced in the NFT sector, where leading NFT collection prices plummet, and liquidity becomes scarce. AlienSwap, through its multi-chain deployment strategy, seized the advantage of being an early mover. It then garnered user favour with solid fundamentals, achieving a retention and expansion effect.

 

As user habits solidify, AlienSwap stands to gain a large number of loyal users. These users, in their transactions on other chains, are likely to consider AlienSwap as their first choice, contributing to comprehensive growth from point to surface.

0GAS Mechanism Unleashing the Long-Tail Market for NFTs

The prolonged high transaction fees on the Ethereum network pose a significant challenge, particularly for NFT transactions valued below 50U. The network gas fees for these lower-value NFT trades often constitute a substantial proportion of the overall transaction cost. This limitation has, to a large extent, hindered the exploration of NFT applications. High gas fees may render some low-priced yet artistically valuable NFTs practically untradeable on Ethereum, as the gas costs could exceed the item’s actual value.

 

Historically, NFT issuances have typically been in the range of 10,000 to 20,000. However, AlienSwap’s 0GAS NFT marketplace opens up the possibility of zero-cost dissemination for NFTs. Creators can now release hundreds of thousands of NFTs, fostering a massive market impact. Just as MemeCoin once created numerous overnight success stories, the emergence of MemeNFTs raises the question of whether it could reignite fervour in the NFT market.

 

 

The launch of the 0GAS NFT marketplace provides a possibility to unlock the long-tail market for NFTs. Traders and creators no longer need to factor in the on-chain gas impact on NFT issuance and transactions, achieving frictionless NFT trading. This, in turn, enhances NFT liquidity, injecting more vitality into the NFT market.

 

Further iterations and enhancements are required for the details of the 0GAS NFT marketplace. Achieving a smoother user experience in terms of UI and allowing users to seamlessly experience 0GAS transactions are challenges that AlienSwap will need to address in the future. These areas represent not only tasks to be tackled but also growth potential.

Combining with the RWA, Breaking NFT Boundaries

NFTs gained fame in the previous craze, particularly in the form of PFP (Profile Picture) images. However, due to their lack of utility, they struggled to find additional room for growth. The RWA track has been rediscovered during this bear market, injecting innovative momentum into the NFT market. The next narrative for breaking the developmental barriers of NFTs might lie in their comprehensive integration with RWA.

AlienSwap took the pioneering step in exploring the integration of RWA and NFT. In July, AlienSwap launched its first NFT on Launchpad: the AKB48 Team SH Genesis Card. This marked the world’s first idol group combination card NFT series. Holding the NFT grants access to the earnings share of the idol group and some rare real-world privileges.

Representing real-world rights in the form of NFTs, AlienSwap has bridged the gap between the entertainment fan market and NFTs. In 2021, the size of China’s pan-entertainment economy market alone exceeded 700 billion yuan, giving a glimpse of the global market potential. This is just one niche track; in the future, more real-world assets and IPs can combine with NFTs, generating unique synergies.

AlienSwap currently possesses exclusive resources from the web2 large-scale film and entertainment industry, including IPs like “封神” (Fengshen), “流浪地球” (The Wandering Earth), “少年歌行” (Youth Song), “乡村爱情” (Rural Love), and the AKB48 girl group. Their bold attempts and exploration in combining NFTs with real-world assets deserve recognition and long-term attention!

On the Eve of Eruption, Awaiting a Catalyst

From the preceding discussion, it’s evident that the project team possesses a profound understanding of market demands and pain points. They have approached product design from the perspectives of both users and creators. Only by placing oneself in the shoes of users and actively exploring their needs can one design a product that becomes a blockbuster.

Innovation and exploration are becoming increasingly crucial as the cryptocurrency market expands in volume and influence. Only by consistently leading the industry, courageously exploring, and breaking known boundaries can a project become a standout. The practical exploration of the integration of RWA and NFTs is poised to assist AlienSwap in uncovering broader applications for NFTs, bringing more incremental users to Web3 and real-world influence.

Born and nurtured in a bear market, AlienSwap has weathered the harshest times in the crypto market and is destined to shine in the forthcoming bull market. AlienSwap has already demonstrated qualities that surpass ordinary products. It awaits only a catalyst, whether it’s the commencement of airdrops, an innovative breakthrough, or a unique NFT collection.

 

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