Updated: Jun 26, 2021
This is hopefully the last generative avatar NFT project I'm going to write about this week. It feels like a million of these projects launched this month with very few distinct differences from each other. Bulls on the Block stands out from the crowd with their implementation of a community wallet. Community wallets are an innovation in the NFT space, so how significant will they be?
Total supply: 10,000 NFTs
Unique traits: 200
Mint price: 0.08 ETH
Launch date: June 27 @ 2PM EST
The stats for Bulls on the Block are almost the exact same as BAYC, which has become the current standard for most avatar NFT projects. One big difference is the inclusion of transaction fees, which are used to fund the BOTB community wallet - more on this later.
Designed by artist & co-founder Rui Duarte
Traits & Species influence rarity
5 different bull species
Each species has their own specific type of eyes & mouths
Traits: Background, fur, horns, eyes, mouth, glasses, earring, hat, and clothes
The community wallet will be controlled by BOTB members and funded through transaction fees from NFT sales. Community members can make suggestions in Discord and vote on how to use the funds. Each BOTB member receives one vote, no matter how many bulls they own.
3% for secondary sales on OpenSea
2% for the community wallet
1% BOTB team
According to their roadmap, ETH will be added to the wallet once 20%, 40%, 60%, 80%, and finally 100% of the NFTs are minted. From this alone, the community will have a total of 50 ETH to spend however they decide.
When I first heard the idea of a community wallet I thought it was dumb and wouldn't add that much value. After digging deeper, I can honestly say that my view has changed and I think it will be a positive feature for NFT projects to implement moving forward. You could almost consider BOTB as a DeFi project since owning an NFT gives you a vote in their "Discord-DAO." Community wallets should theoretically make NFT projects much more sustainable in the long-run.
Just like with any crypto project, community will make or break Bulls on the Block. The good news is that the team seems to be emphasizing the importance of community & art with various giveaways and livestreams.
I'm excited to see how the community wallet works in the wild once Bulls on the Block launches. If successful, I guarantee we will see many more NFT projects copy this feature. BOTB's launch date is this Sunday and I'll be watching closely for updates in preparation to mint some bulls once they're available.
Join their Discord so you don't miss any of the action: discord.gg/xQ9Gf95Y2a