in this article we aim to analyze Galactic Punks over a period of time.
RandomEarth, the new entrant of NFT Marketplace on Terra Blockchain, took over NFT the ecosystem in a matter of months. Launched in early October 2021, RandomEarth has become Terra’s premier marketplace for NFTs.GalacticPunks (GPs) are not connected to Ethereum’s CryptoPunk community, but they are Terra Blockchain’s CryptoPunk community. Random Earth’s alliance with GalacticPunk has made Terra Blockchain the hottest marketplace for Terra Blockchain.
Non-Fungible Tokens. Fungibility: the ability to swap an item for another that is like it or can be swapped for it.The US dollar is fungible, which means anyone can exchange a penny for another without losing value. A non-fungible token, on the other hand, is a digital asset with real value, but isn’t interchangeable with other assets.
The Galactic Punks were launched on October 9, 2021. They are a set of 10,921 randomly generated NFTs on Terra .Punk features 7 attributes which customize your Punk: backgrounds, suits, glasses, headwear, hair, body, and accessories. When made available to the public, users can pay 3 Luna (or the equivalent in UST) to create a fresh new Punk with randomly generated attributes.
Each wallet can hold a maximum of 25 Punks, and the number of Punks minting per transaction is limited to five. After minting, there will be no limit on the number of Punks in a wallet.
How Galactic Punks minted?
You can earn three experience points for every message you send (that is not spam) in the Galactic Punks Discord server. Members who engage with the Galactic Punks Discord server have a greater chance of making the whitelist.Prior to launch, Galactic Punks will take snapshots of the leaderboard in XP. Presently, the top 1,000 members of their discord server will be whitelisted. Several hours before the public sale, those whitelisted applicants will be rewarded with 1 unique Punk.
In the public mint, each trait will carry a different rarity level. No one will be able to know what type of trait they are getting before the public mint (metadata will be stored on chain prior to mint to see which traits are available).
Sales and Volume of Galactic Punks over the past month
The below graph shows how the number of transactions and the volume of transactions on Galactic punks have changed over the past one month. Maximum Transactions were recorded on December 20, 2021 and minimum Transactions on December 2, 2021. Transactions on December 2, 2021 were lower than normal. The number of transactions for Galactic punks decreased after December 2nd, 2020 and then increased on December 20th, 2021 to the maximum of 25 punks.
In terms of transaction volume, highest volume was observed on November 22, 2021, and lowest volume was observed on December 6, 2021.The volume shows a downward trend. In December 3, 2021, volume was lower than usual. It is noticeable that there is a huge sale volume on Galactic punks on Nov 22,2021, but then the trend goes down again.
November 22, 2021 marked the maximum Volume at 963.15, and December 6, 2021 marked the minimum Volume at 111.9.Volume shows a decreasing trend.After that in December,2021, we noticed a significant increase in galactic punks sale volume. Hopefully, this trend continues in the future. Graph below shows the expected volume of Galactic punks in the next 30 days. During the week of January 11,2022, Galactic punks will be showing expected maximum sales volume. Let’s see how the next coming weeks will go. Hope for the best! Let’s see how it goes.