Many new non-fungible token collections are launching every single month. It can be challenging to see the forest through the trees, making one potentially miss out on promising projects. One such project going by a bit unnoticed is Posh Pandas, as users can still mint tokens over a week after its launch.
Minted on the Ethereum blockchain, Posh Pandas is a collection of 5,000 unique generated NFTs. The launch took place on August 7, 2021, and just under 1,500 have been minted since. There are less than 400 owners, indicating users hold an average of 3.5 Posh Pandas each.
Users will spend 0.04 ETH plus gas fees to mint their Posh Panda, which can be traded on the OpenSea NFT marketplace. The project records just over 9.2 ETH in trade volume to date, with a price floor of 0.02 ETH at the time of writing.
The team’s main objectives are to create a strong community and focus on charity. More specifically, there will be five 1/1 Posh Pandas put up for auction, with 100% of the proceeds going to a charitable organization chosen by community members.
Many people get involved in NFTs for the flipping potential. It is undoubtedly possible to mint new NFTs and sell them for a profit on the same day. However, the Posh Pandas team wants to incentivize users to hold their NFTs as long as possible. Doing so will help introduce market demand and keep liquidity low, but there is a second incentive.
The team has confirmed there is a goal to release a second collection, known as Baby Pandas. These Baby Pandas will be distributed to all Posh Pandas NFT holders. In addition, artwork for this second set will be live-streamed on August 18, 2021, with the artists to give community members an early look at what to expect. The Baby Pandas set has no official drop date yet, but it will likely occur in the coming weeks.
One important note: holders will receive one free Baby Panda for every two Posh Pandas they hold.
Last but not least, NFT holders will be eligible for exclusive giveaways. More information on these giveaways will be announced through the official social channels and the project’s Discord server.
Still mintable?: YES
The author of this article currently holds 2 Posh Panda NFTs. This article does not constitute investment advice. Always do your own research and invest at your own risk.
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