Coinbase’s Ethereum layer-2 scaling solution, Base chain, is heating up. In this article, deep-dive to discover what BASE NFT projects could breakout in 2024 to become the next Crypto Punks.
After the previous bull market saw the famous #5822 CryptoPunk sell for a record $23.7m in February 2022, the Crypto Punks floor price skyrocketed, with investors across the globe netting 6-7 figure profits on major sales.
Now, investors are scrambling to uncover the next big thing in the NFT market.
Today, we will look at 3 NFT projects on the extremely hot Base chain—Coinbase’s trendy new layer-2, which has exploded in recent months due to a combination of low transaction fees, Coinbase app onboarding, and a Base NFT marketplace launching all within Q2 2024.
Top 3 BASE NFT Projects: Could One of These Projects Be The Next Crypto Punks?
For this reason, 99Bitcoins analysts have identified the Base chain as a great place to look for the next CryptoPunks—let’s examine the top three contenders.
BASE NFT Project #3 – Based Fellas
Based Fellas was the first 10k ‘PFP’ NFT project on Base chain, which creates significant crossover similarity to CryptoPunks on ETH and NodeMonkes on Ordinals.
Based Fellas have a first-mover edge in the 10k PFP space. In a huge vote of confidence, the creator of the Base chain, Jesse Pollack, tweeted a picture of his Based Fella in December—adorning the project with the approval of the most important person within the Base ecosystem.
Based Fellas has a healthy Wallet Distribution of 33% (3,300 holders split between 10k NFTs), which continues to increase. The floor for Based Fellas is currently 0.125 ETH.
The team has just released a second NFT collection called ‘Homes’. Alongside that, they will launch a FELLA token, integrating various staking rewards via homes and fellas to earn FELLA.
They plan to release game dApp integrations in the future, with the Based Fella team announcing that you can stake NFTs from other projects in the Homes to earn FELLA.
As a first mover with such a hard-working team, analysts see explosive potential with the Based Fellas ecosystem, and with a 250+x to reach the current CryptoPunks market cap, there are insane gains to be had here!
Base NFT Project #2 – Tiny Based Frogs
Another OG ‘PFP’ NFT collection on Base chain is the Tiny Based Frogs collection. The supply is only 999 so there is a much smaller, concentrated community unlike what you find with most 10k collections – making these highly sought after NFTs much more exclusive.
The wallet distribution is similar to the Based Fellas with 371 holders across the 999 NFTs. The scarcity of these NFTs could make it a very big flex to have as a PFP on socials which will likely drive up demand and price as we head further into this bull market. The floor is currently at 0.6 ETH.
Jesse doesn’t buy and publicly post about every NFT project on Base – so similar in a similar capacity to him being vocal on Based Fellas, this is extremely bullish for the Tiny Based Frogs.
Base NFT Project #1 – OnChainDinos
OnChainDinos was created by a very well-known and respected developer within the Base ecosystem named ‘Apex_Ether‘ – an engaging and enigmatic community builder who has also created an ERC404 protocol token (RAWR) alongside this collection. All of this forms part of an emerging GambleFi DinoPoker project.
The secret to OnChainDinos’ rapid community growth is constant collaboration, and as a result, they have a very strong community across social media. The floor is currently at 0.075 ETH.
The Bottom Line: Don’t Sleep on Base NFT Projects – They Could Be The Next Crypto Punks
Finally, and probably the most bullish aspect of this upcoming Base SZN is that over the next few weeks, Coinbase will be opening their userbase (110m+ accounts & $70b of assets) to the Base chain via their Coinbase smart wallet.
This will allow retail investors with no on-chain experience to buy and sell Base tokens and NFTs with just 1 or 2 clicks, offering perhaps the fastest onboarding route for fresh capital in the emerging 2024 bull run, potentially positioning these projects for explosive capital inflows.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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