In the August 2022 edition of DappRadar’s New Dapps Report, we dive deeper into the DigiDaigaku Genesis, which is climbing the NFT charts. The New Dapps Report is a detailed analysis of financial metrics for NFT collections with a solid appeal.
This New Dapps Report is part of a series of executive reports that provide readers with a high-level perspective of promising, generative NFT collections. The report focuses on financial metrics, including sales activity, price analysis, and distribution metrics like Unique Holders Ratio and Whale Concentration Index. It additionally dives into whales’ behavioral patterns and social and technical overviews.
DigiDaigaku is a generative collection of 2022 NFTs, heavily inspired by ‘Moe’ (pronounced MOH-Eh) or Cutesy Anime style. The collection is a part of a currently untitled MMO game created by the Limited Break company. The collection boasts a novel mechanism for enticing the community, which they call ‘free-to-own.’
The concept is to avoid the pitfalls of whitelist competitions and frontload the players’ costs. The intention is for the assets to accrue value over time as players play the game. The NFT is the first step in the current stealth project.
Please do not consider this document as financial advice.
Data updated on: Aug 31, 2022
Table of Contents
- Key Takeaways
- Financial
- Utility
- Social Awareness and Engagement
- Technical Overview
Key Takeaways
- DigiDaigaku is the 5th most traded collection in the last seven days with a volume of nearly $5 million
- The floor price has appreciated by 2716% since the mint day and is still increasing
DigiDaigaku – Strong Financial performance despite low sales
Blockchain: Ethereum
Launch date: August 09, 2022
Edition size: 2,022 – Limited Edition
Traits: 13
Attributes: 238
Floor price: 13 ETH
The collection was ‘stealth-dropped’ to avoid the issues that often arise with whitelists, namely privileged positions, lucky or the well-connected few enjoy if they make it on the list. The developers at Limit Break wanted to level the playing field and make the collection free-to-mint.
The collection is relatively small, containing only 2022 NFTs, with only a fifth of the regular collection size. Despite the smaller size, the collection performs strongly three weeks after launch.
It is the 5th most traded collection in the last seven days and the 15th in the previous 30. The strong sales figures are the result of the steadily growing average price. The demand for the collection seems to outpace the supply, and the average price is increasing.
The collection was free-to-mint and did not have a mint price. The average price on the day of the mint has been used as a substitute for the report. The floor price has appreciated by 2716% since the collection’s launch. This performance is noteworthy in a bull market and extraordinary in a bear market like we have today. It certainly has outperformed many contemporary collections that we covered in the recent past, like and MoonRunners, which appreciated by 494% and 233%, respectively.
Despite the solid performance, the sales count for the collection is very low. Of course, the highest sales count was on the mint day with 1363 trades and sharply declined to 2 transactions on the 25th of August.
Added Utility – Upcoming MMO from Veteran Designer.
The collection at the time of writing has little utility other than the profile pictures. The future plans for this collection are not clearly defined either. What is known is that the NFTs will serve as assets in the upcoming MMO that the Limit Break team is currently developing. The information is scarce and will be drip fed in the incoming months.
Social Awareness and Engagement
DigiDaigaku doesn’t have a solid online social presence. The project has a Twitter account that was created in early August 2022. The profile currently has 9.187 followers, and its affiliated Limit Break account has 10,712 followers.
The account has accrued 100% of its followers in the last 30 days and has an average daily growth of 437 followers. It and the affiliated Limit Break account are in still mode and have limited activity.
The project does not have a separate Discord server to create a community; no known fan-created servers either. The project lead stated in an interview that a Discord would be created at a later date.
The collection has an official website, and it, like the Twitter profiles, is also in stealth mode.
Team Overview
The collection is headed by Gabriel Leydon and Halbert Nakagawa, while Hoon creates the art for the collection.
Leydon is a veteran game designer and businessman focusing on creating engaging and profitable Mobile Games. He worked at Machine Zone, the creator of many top-selling Mobile games like Game of War, Mobile Strike, and Final Fantasy XV: A New Empire.
Leydon chose to explore new horizons with Blockchains games and left Machine Games to create Limit Break. Many of his former colleagues have joined him, including Nakagawa, the co-founder of Machine Games.
The current project has won many investors, such as Paradigm, COINBASE Ventures, and Anthos Capital, and he was able to raise $200 million for the project. According to Leydon, the current game is in stealth mode because ‘’he doesn’t want others to copy him’’
Whale Wallet Analysis
DigiDaigaku currently has a Unique Holders Ratio of 36% and a Whale Holders Ratio of 15%, one of the highest we have had on the New Dapp Report. There are two prominent flippers among the top five holders of the collection.
They are hype.eth and hot.izebel.eth indicates a low public profile of a collection. Together these factors suggest that this is a very concentrated collection with a risk of being manipulated by whales and is also prone to sudden price fluctuations.
However, it should be noted that because this is a relatively small collection, such concentrations are more likely to occur and are not outside the norm. Still, we advise our readers to do their due diligence and prudent risk management.
Technical Overview
DigiDaigaku stores its metadata using IPFS rather than fully on-chain. This type of shared storage is standard for NFT projects as it allows for faster transaction speed by not cluttering the chain with visual data.
- Audit status: no audits performed yet
- Storage: NFTs are stored as ERC-721 tokens on the Ethereum blockchain, and visuals are live on IPFS for immutable ownership.
- Contract address: 0xd1258DB6Ac08eB0e625B75b371C023dA478E94A9
DigiDaigaku Genesis is a small collection of 2022 NFTs. Small things are usually very expensive; the same applies to this collection. It has been performing very admirably since the mint. Three weeks after the launch, it is still the 5th most traded in the last seven days and the 16th most sold in the previous thirty days, with volumes of nearly $5 and $8 million, respectively. The floor price has also increased by a whopping 2716% and continues to rise, indicating a growing demand for the collection.
The promise likely drives the performance that these NFTs will be future assets in the upcoming MMO game created by Gabriel Leydon, a veteran game designer for mobile games and his blockchain games-focused company, Limit Break. Leydon is currently holding his card close to his chest and is running the project in stealth mode for fear of others copying him. The investors in this project have been given full disclosure, and many prominent ones like Paradigm, CoinBase Ventures, and Anthos Capital have committed $200 million to the project.
Despite the financial performance, the social following of the project is very small. The project has a Twitter account with nearly 10,000 followers, all of which have been acquired in the last 30 days. The information embargo and the project’s lack of social communication, Explain the low follower count.
Finally, it should be noted that this project has an unusual concentration of whale holders at 15% and a very low Unique Holder Ratio of 36%. These are usually red flags that indicate price manipulation by prominent flippers. While prospective holders are excited to be part of a potentially revolutionary blockchain game, prudent risk management should temper their enthusiasm.
