It was a perfect storm, really. It seemed like the beautiful dragon art had been relegated to the no man's land of NFT project launches languishing on the Entrepot launchpad. The full-quality artwork had not been uploaded to the canister, the market wasn't doing well in general (no launches were sold out), and some people started selling the dragons they minted for less than the mint price when the secondary marketplace opened.
It's at this point an NFT project's team has a choice. Many choose to place blame elsewhere: the market is bad, the marketplace didn't do its job, there just isn't enough interest in our project, etc. You've heard all the excuses before. The team disappears, and the NFTs become art without utility. Call it what you will, but when a team does that, it's a rug pull.
The Drakon team took the other option. They kept their heads down and kept on working. They made connections, marketed their product, revamped their roadmap, and found ways to entice people to their project. In the end, Drakon sold out, and the floor price of the secondary market is up 50% from the mint price.
How did they do it? What else can we look forward to from Drakon in the future? Here is the most remarkable comeback story in the history of the Internet Computer to date.
From Disappointing Launch to Sold Out in 50 Days
Only 84 Drakon NFTs sold on day one. To call that a disappointing launch is an understatement, especially after all the work the team put into the art, the lore, and the dragon research on the website. Plus, there was no shortage of utility. The team has been promising a card game from day one. And we here at Dfinity Community saw the potential. Perhaps you even read my article about the project.
Throughout the rest of April, the NFTs sold in drips and drabs. Some days saw zero sales; one saw 16 – it didn't look good. So what changed and led to the project selling out with the final 499 sales coming in one day on May 28th?
Step 1: The Price Adjustment
The sale price was slashed in half from 1.8 ICP to 0.9 ICP, and those who minted dragons and held onto them faithfully were rewarded with free airdrops. On that very day, the project saw the highest number of new mints since the initial launch.
Step 2: The Eggs Collection
One of the significant driving factors was the promise of airdrops – and not just one but several. First is The Eggs Collection, with art from newly onboarded artist Neel (of IC Puzzle fame). The first eggs were teased on Twitter on May 25th. Again, there was a spike in mints, even more than the day of the price drop. From there, the team never looked back. More teasers followed, and Neel being the artist of The Egg Collection was finally announced on May 28th, the day the project sold out.
Step 3: The Revised Roadmap
I know what you're thinking. They already sold out. They won. They completed the incredible comeback. Why revise the roadmap now? And the answer is that Drakon was never about selling the collection and draining ICP from the community. They are here to create great art, lore, gaming, and community. So let's take a look at what is in store for Drakon holders.
· 1:1 Airdrop – Drakon holders will receive 3D Eggs in proportion to how many NFTs they are holding.
· Dynamic Baby Dragons – While only special 3D Eggs made in collaboration with other projects will be dynamic, the entire Baby Dragons collection will be animated. For every four 3D Eggs a person is holding, they will receive a Baby Dragon. That means if all 4444 Eggs are held in multiples of four by collectors, a total of 1111 Baby Dragons will be airdropped.
· 3D Holographic Cards – More airdrops are on the way, and this time they give you gaming access. Holding both Drakon and 3D Egg NFTs will result in the airdrop of a 3D holographic card that grants access to the upcoming game. You will need 1 Drakon and 2 Eggs to receive the airdrop (more on that in a moment).
· P2E Card Game – Players will compete to earn DRAK tokens. The tokenomics of DRAK are TBD and will be revealed following the release of the Baby Dragon NFTs.
The team has improved on the original roadmap, offering collectors more than ever before. It's no wonder the project sold out, and now the floor price is strong on the secondary market.
So what does the immediate future hold for the Drakon team?
Everything You Need to Know About The Eggs Collection Launch on June 15th
The good news is that, even if you are not holding Drakon yet, you still have a chance to get Eggs. The entire collection is not being airdropped because there are 4444 Eggs and only 2888 Drakon NFTs. So when and where can you pick up the rest, and how much will they cost?
· Sale Date: June 15th, 3 pm UTC
· Mint Price: 1.5 ICP
· Marketplace: Entrepot
Remember that the airdrops are 1:1, so if you want Holographic Cards (which require 1 Drakon and 2 Eggs per airdrop), you will want to stock up on more Eggs. You may also be wondering about the difference in collection sizes. Here is how the team intends to work it out.
Following the launch of The Eggs Collection and the airdrop to Drakon holders, the team will begin to gradually buy back Drakon NFTs to burn. Eventually, the collection will be reduced in size to 2222. With 4444 Eggs, that means if every Drakon holder has two Eggs per Drakon, 2222 Holographic Cards will be dropped to holders. This is besides the 1111 Baby Dragons that will be airdropped (assuming everyone is holding a multiple of 4 Eggs).
I know it's a lot to take in. The big takeaway is that you want to mark your calendar for the launch of The Eggs Collection by Drakon and artist Neel on June 15th on Entrepot. Then buckle up because there is plenty more to come on the Drakon journey!
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