This week I crunched the data on ERC1155 adoption. Here is what I found 👇
Primer: ERC1155 is an NFT token standard. NFTs of the same standard share the same basic functionality. This makes it easier for devs to create applications that can interact with any NFT.
For example, if an NFT is made using ERC1155 then, no matter what project it’s from, a dev can call the contract’s ‘uri’ method to check the metadata of the NFT (description, where image is stored etc.)
The first and most popular NFT standard is ERC721. The biggest difference between the two standards is that ERC1155 can be used to make both fungible and non-fungible tokens.
[1/5] 745k wallets have sent or received an ERC721 NFT.
[2/5] 64% of wallets that have sent or received an ERC1155 have never sent or received an ERC721.
[3/5] In September, the ERC1155 tokens with the highest trading volume have been:
Metahero Mint Pass - $32M September Trading Volume
888 Inner Circle - $31M Trading Volume
LostPoets Pages - $20.6M Trading Volume
[4/5] In September, the ERC1155 tokens with the most transfer activity have been:
Unravelled Treasure (For Loot) - 31k September Transfers
MLB Stadium Series - 22k Transfers
LostPoet Pages - 15.7k Transfers
[5/5] The first NFT project to use the ERC1155 standard was Enjin.
1. Dollar values are calculated using the price of the cryptocurrency used in the transaction at the time of sale.
2. Some people have multiple wallets so unique humans will be fewer than unique wallets.
3. These stats are for Ethereum Mainnet and do not account for NFT activity on Polygon.
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This week I’ve got a personal announcement to add to the newsletter. I recently quit my job to join 1Confirmation as a partner! 1Confirmation is a crypto venture fund that's been quietly supporting the brightest builders in the space for years now. Here are 3 key insights into why I decided 1C was the place to be.
- As you might have noticed, I'm kind of obsessed with JPEGs. 1C has the strongest NFT portfolio in the world. They led the seed rounds of OpenSea and SuperRare and their NFT vault is heavy with grails like Robbie Barrat's Genesis mint.
- They have a great track record of building products to support portfolio companies, which is one of the things I’m most excited to contribute to in my new role. A few examples you may have spotted in the wild are the SuperRare Sales Bot on Twitter, Cryptoart.io, Nexustracker.io and the OpenSea Dune dashboard (which I recently contributed to by adding Polygon data).
- I’m super bullish on DeFi’s potential to revolutionise the global financial system and 1C were early investors in multiple DeFi titans including Nexus Mutual ($500M TVL) and dYdX ($540M TVL).
Suffice to say, I think I made the right choice 😁. Buzzed to join the team ⚡
Article of the Week
^I'm a big fan of Andrew Hong's data analysis work. His story, from getting started in crypto a year ago to getting hired at Mirror last month, is a phenomenal blueprint for anyone looking to start a career in this space.
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