On February 1st, the NFT project Nobody NFT, which attracted a lot of attention due to Stephen Chow's involvement, started minting at an initial issuance price of 0.19527 ETH. Within 48 hours, it received over 3192 ETH, with a total payment amount exceeding 172%. After the minting deadline and the completion of NFT distribution, the floor price of Nobody NFT had surpassed 0.9 ETH on February 5th, with a 4.8x increase, and the trading volume had reached 3287.16 ETH.
It is reported that the total of 10,000 Nobody NFTs will be revealed on February 7th. The community is eagerly anticipating the prices of some popular characters from Stephen Chow's works, such as "Zhi Zun Bao," "Purple Rose Fairy," and "9527," and speculating whether the floor price of Nobody will continue to rise before the reveal.
What's the background of the Nobody series?
It's not uncommon for well-known celebrities to endorse Web3 projects, and there have been precedents of attracting attention and then running away. Before the start of Nobody minting, some in the community joked, "Are you ready to be cut?" However, in recent days, the performance of Nobody NFT seems to have surprised the community. But many newcomers seem to still not know enough about the background of Nobody. So, what's the story behind this NFT series that surged 5 times in a day?
Stephen Chow as the First Creator
Stephen Chow's foray into Web3 has been planned for a long time. The Nobody NFT minted this time is the first work of the Nobody platform, and the predecessor of the Nobody platform is Moonbox, an AI-driven tech startup based in Hong Kong. In July 2023, the company obtained the rights to use the NFT domain of Stephen Chow's films "Journey to the West: Conquering the Demons," "Journey to the West: The Demons Strike Back," and "The Mermaid."
In Nobody NFT, Stephen Chow took on the role of the First Creator and participated in the design of Nobody NFT based on some of his works' IP. Nobody NFT will serve as a community credential, and holders can be a part of the Nobody community, participate in the project's development, and enjoy special benefits such as proposals, co-creation, voting, and IP production.
With the endorsement of Stephen Chow's works, each Nobody NFT has a vivid and story-rich character behind it. According to the team, Nobody has put a lot of effort into NFT gameplay, designing interactive gameplay based on AI and NFT chat. After the NFTs are sold, the Nobody App will be launched, allowing holders to chat with these characters, learn about their personalities, hobbies, and background stories. In addition, there will be exclusive features to provide holders with space for secondary creation of Nobody NFT characters.
Like all Web3 projects involving celebrities, Stephen Chow's Nobody NFT has also received enthusiastic promotion from his friends in the industry. Previously, rapper Jay Chou created a new song with Nobody as the theme, which was retweeted by Stephen Chow. Jay Chou, JJ Lin, Ashin of Mayday, and Alec Su have also successively shared physical signed gold cards given by Stephen Chow on social media to show their support.
OKX's Endorsement, Crypto Native Operation
In addition to the enthusiastic promotion by Stephen Chow's celebrity friends, the support from OKX is an important factor that has not disappointed the community's expectations and prevented "death by exposure."
According to Jeff Ren, a partner at OKX Ventures, when he saw Stephen Chow looking for people related to Web3, he actively contacted him and expressed a willingness to cooperate. In August 2023, Stephen Chow posted on INS, "Thankful to find like-minded Web3 partners," and tagged OKX at the end. It is reported that OKX Ventures had previously invested $1 million in Moonbox (the predecessor of Nobody).
At the end of 2023, Stephen Chow, Jacky, co-founder of Nobody, and Ray Chan, CEO of NFT project Memeland, had discussions in Hong Kong on the topics of Web3 and NFT. Stephen Chow regards Nobody as a community co-creation platform, saying, "I hope to generate good storylines from the Nobody community, and I will consider putting these storylines into movies." As an investor in the Nobody platform, Jeff Ren stated, "Through NFT and DAO, the audience can directly interact with creators, stimulate more film and television creation, and the NFT-ization of movie characters can also increase the audience's sense of participation and immersion."
Before the NFT minting, on January 11th, OKX NFT Market and Nobody jointly launched a limited-time whitelist application for Nobody NFT. Users who completed specific tasks could participate in the whitelist application, and the final successful applicants would receive the Nobody NFT whitelist, limited to 2500. Both whitelist holders and non-whitelist holders could participate in the NFT minting. Whitelist holders could guarantee successful minting, while non-whitelist holders would decide whether to mint successfully through a lottery. It is reported that over 120,000 people participated in the whitelist application.
In addition to OKX's support in pre-launch operations, the bid prices on blur after the NFT minting ended also reveal Nobody's "sophistication" in NFT gameplay. According to observations by BlockBeats, when its floor price rose to around 0.5 ETH and 0.8 ETH, there were a large number of buy orders at the floor price, which could prevent profit-taking by Nobody winners from negatively impacting the entire NFT series' prices. This "defensive" strategy has allowed Nobody to steadily rise from 0.2 ETH without significant selling pressure.
The "Zeroing" Fate of Artist NFTs
Watching the trend of Nobody, it's hard not to think of the NFT project Phanta Bear, which was also popularized by a celebrity.
Phanta Bear is an NFT issued by Jay Chou's fashion brand PHANTACi and the Ezek platform. Its cute bear image with starry eyes gives Phanta Bear a high degree of recognition and has become the core IP of the PHANTACi brand. Although Phanta Bear achieved a floor price of 7.3 ETH within 10 days of its release, its floor price dropped to 2.4 ETH in the following 10 days.
Although it had a 823% increase compared to the 0.26 ETH at minting, the NFT bubble and volatility caused by the celebrity effect are crucial factors that investors cannot ignore. Although Nobody has the endorsement of Stephen Chow and OKX, it cannot guarantee that it will not follow the "old path" of Phanta Bear. As with any investment, risks always accompany it, so it is important to avoid blindly following trends and to do your own research (DYOR).
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