The Saudis of 5,555 NFTs, whose artwork is a derivative in a 2D pixelated style similar to CryptoPunks. whitelist is 4500, public mint is 1000 free to mint on July 9. The collection has so far totaled 8.2K ETH in sales volume.

https://opensea.io/collection/thesaudis

The Saudis is the latest hit NFT collection that comes just a month after another free-to-mint project Goblin Town made waves across the NFT market with its performance.

The rallying cry of The Saudis is MAX BIDDING, While the collection is off to a promising start, how it fares in the coming months remains to be seen. Nonetheless, this was “successful” as a free mint.

Oil-price is a channel in The Saudis Discord that tracks the price of oil and is part of the community’s hope that rich Saudi oil tycoons will buy their NFT bags once they enter the world of Web3 at some point and want a pixelated cartoon profile picture as their brand.

The collection signals the top for oil prices, which have exploded in recent months, so can afford to drive the cars again.

The anonymous Rightblock set up a contract that minted nearly half of the public supply to hundreds of different wallets controlled by them. The contract then sent these NFTs back to their main wallet, from which they began listing.

Before The Saudis team had become aware of this, Rightblock made over $100,000 from selling the NFTs.

Freemint NFT launches seem to be working just fine as The Saudis lay the groundwork for future NFTs projects to adopt. However, regardless of how a project might be fundamentally unsound, there are always intangibles to consider. Viral marketing seems to thrive regardless of various market conditions in the short term but faces roadblocks to being sustainable in the long run.

People who are community jumpers, moving from one narrative to another, and maybe that’s how the NFT space operates right now, but probably not for long. set to innovate NFTs beyond expectations.

if the attention and hype are not backed by strong fundamentals and utility, the project fails. Marketing draws investors in, but it is the fundamentals that keep the project going.

This is a clown market, valuations are absurd. A journey through the desert where only the strong-handed reach the oasis. But wherever there is money to be made, there will be people.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

MetaCreat

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