The Executive R0AR Society (ERS) NFT collection has sold out on OpenSea. The 10,000-piece Ethereum-based collection saw thousands of tokens minted in the last few days of the campaign as collectors rushed to add the colorful lions to their wallets.
One of the major reasons behind the surge in demand for the NFTs has been the promise of crypto rewards, including crypto airdrops in the future. The team has repeatedly confirmed plans for airdrops, and the excitement around these plans has been amplified following the massive PENGU drop received by Pudgy Penguin NFT holders.
The ERS collection is expected to become a central pillar of the broader R0AR DeFi ecosystem, which will have its own multi-chain decentralized exchange, liquidity provision tools, yield farming features, and possibly even a decentralized NFT marketplace.
The NFT collection was launched as a fair mint, which prevented insiders and whales from sniping legendary and epic NFTs. As a result, the art wasn’t revealed until all 10,000 tokens were minted. The art reveal went off without a hitch, and a stable distribution of the rarest NFTs appears to have been generated through the mint.
This article will delve into the details of the successful mint, the crypto airdrop narrative, the art, and rarity reveal, and the future role of the ERS collection within the R0AR ecosystem.
Executive R0AR Society (ERS) NFT Collection Mints Out
The ERS NFT collection public mint has now closed. All 10,000 NFTs were minted on OpenSea and are now open to trading on the secondary market. The process was carried out in a fair and transparent way in order to guarantee that everyone had a shot at getting hold of the rarest NFTs in the collection.
Over 1,000 unique wallet addresses participated in the mint, suggesting that the project has made a solid start to creating a decentralized community. This broad distribution is beneficial as it prevents a small number of holders from having excessive control over the collection, promoting a more equitable and engaged community.
Sniping was prevented by delaying the art reveal until after the mint was complete. This ensured that no one could identify and selectively purchase rare NFTs. For example, wallet addresses holding as few as three of the NFTs were able to snap up epic and legendary NFTs, showing even distribution.
Some of the NFTs have been traded on the secondary market for significant returns. For example, R0AR #1637 was sold for ETH 0.5, representing a massive 35x increase from the public mint price of just 0.014 ETH.
Crypto Airdrop Narrative Fuels Demand for R0AR NFTs
Although there are several reasons for the surge in demand for R0AR NFTs, there is no doubt that crypto airdrops are a major factor. The popularity of crypto airdrops among the NFT community has reached new heights following the Pudgy Penguins $PENGU drop, which saw some holders net tens of thousands of dollars worth of tokens.
R0AR NFT holders are anticipating a similar style airdrop, which will allow them to claim tokens. The team has repeatedly confirmed airdrop plans in announcements and live AMA sessions, fueling excitement and speculation.
The R0AR token presale raised over $4 million during its presale window. Many NFT holders believe they will be first in line for token airdrops once the TGE occurs later this year. This expectation of early access to potential token rewards is a significant driver of NFT demand.
Many R0AR whales and collectors think that they will maximize airdrop benefits in the long term if they purchase NFTs now when the price is still cheap. The premise behind this technique is that larger airdrop allocations will result from owning more NFTs, particularly rare ones.
A good example of this airdrop play is the R0AR #1637 sale. This lion is in the top 2% in terms of overall rarity, making it a legendary ERS NFT. For a full breakdown of the rarity distribution of the NFTs, take a look at the graphic below.
The Future of ERS: Crypto Rewards, DeFi Utility, and More
It’s been a bullish start for the ERS collection. Selling out over 10,000 NFTs in what has been an extremely turbulent market, especially for Ethereum, is no small achievement. The secondary market has already sprung into action, and many minters have turned a profit flipping their NFTs.
However, the majority of the community appears to be holding onto their NFTs even as considerable offers are made, with only 3% of the total supply listed. It’s believed that a considerable number of the holders are being motivated to resist the urge to sell by the promise of future crypto airdrops, DeFi utility, and the possibility of an NFT bull run.
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