XP.NETWORK transit StreetPunks to Polygon and helps them to get listed on OpenSea
StreetPunks was born in late October 2021, created by an enthusiastic group of individuals brought together by their passion of CryptoPunks.streetpunks.art
StreetPunks becomes XP.NETWORK’s latest partner
XP.NETWORK allows any NFT collection or game to branch out to over 10 blockchain networks, including Avalanche, BSC, Polygon, Elrond, Polygon, Fantom, etc. We’ve already told you about our recent collaborations with Drifters and IMPS Kingdom, and now it’s time for a new one: StreetPunks.
StreetPunks gets inspiration from the legendary CryptoPunks to create a new kind of NFTpunks: street-savvy and well-dressed. They preserve the pixelated look but gain a rather fancy body in addition to the head.
The complete first NFT collection of 999 StreetPunks has been minted on Binance Smart Chain (BSC) – one of the biggest chains in terms of the number of NFT projects. They can be staked to earn StreetPunks’ own token, PUNKS.
In turn, PUNKS can be used for yield farming on CroxSwap, Farmageddon, NestSwap, and RugZombie. PUNKS is traded for BNB on PancakeSwap.
StreetPunks has implemented a very community-oriented tokenomics model, where every transaction with PUNKS is subject to a 12% tax. Out of these, 5% are distributed to StreetPunks holders every 24 hours, 4% go towards DEX liquidity, and 3% towards marketing. The tax discourages speculation and incentivizes long-term holding.
Like most NFT collections nowadays, StreetPunks feature royalties, with a percentage of each secondary market sale going back to the creators. However, unlike many other collections, the team uses 10% of the royalties to buy back more StreetPunks, thus reducing the supply and supporting the floor price.
The next steps in the roadmap include a dedicated StreetPunks staking app, Play-to-Earn features, tournaments, a mobile app, the release of at least two more collections, and even a StreetPunks metaverse.
StreetPunks already collaborate with such diverse projects as CroxSwap, ProtoVerse, VR Trinity, and Income Island. The latest addition is the collaboration with XP.NETWORK, which provides a major new source of utility to StreetPunk holders.
XP.NETWORK teleports StreetPunks to Polygon
The NFT ecosystem on BSC is large and vibrant, but it still can’t compare in size to the Ethereum-Polygon ecosystem. For example, the total all-time NFT trading volume on AirNFTs, the best-known independent marketplace on BSC, is lower than the average daily volume on OpenSea.
OpenSea is where the majority of NFT collectors and liquidity reside. Therefore, making a collection available on one of the blockchains supported by OpenSea is a wise step for any NFT project to make.
OpenSea currently supports Ethereum, Polygon, Solana, and Klaytn. And while the Ethereum transaction fees remain too high for effective trading in most collections apart from the expensive blue chips, Polygon provides a great alternative. The average transaction fee is less than $0.5, and the confirmation time is around 15 seconds.
How do you port an NFT collection from BSC to Polygon, though? Here’s where XP.NETWORK comes in. Our bridge can easily transfer a collection of any size between any two out of the 16 supported networks, both EVM and non-EVM. It’s the only multichain bridge designed specifically for NFTs that has integrated so many networks.
In this case, the transition from BSC to Polygon is an easy one, as both are EVM chains. The successful result was announced on StreetPunks’ Twitter on May 19.
The opportunity to mint a collection on a different network independently and then port it to Polygon to list on OpenSea is very valuable. While the giant marketplace still offers free gasless lazy minting, it’s struggling with a wave of fake projects and copycats. OpenSea has already announced the end of unlimited free mints once – and could do it again.
By contrast, when using XP.NETWORK, projects can launch on a cheap, NFT-friendly network like BSC, Avalanche, or Elrond, and then move to Polygon to access the liquidity on OpenSea – all this while preserving their smart contract logic and image storage location. It’s the easiest way to maximize exposure and trading volume while preserving one’s independence.
XP.NETWORK is in talks with many more NFT projects wishing to expand to new networks, so fresh partnerships will keep coming. Join us on Twitter and Telegram and be the first to learn about the latest collaboration. As of the time of writing, there were 131 StreetPunks listed on OpenSea, with a floor price of 0.08 ETH (around $160). The most valuable StreetPunks were priced at 5 ETH. Note that, while the prices are listed in ETH, the token contract is actually deployed on Polygon.