Original author: Nancy, PANews
The upcoming Runes Protocol is becoming a key focus of the market. Franklin Templeton, an asset management giant with an asset management scale of over 1.5 trillion, also recently published an article introducing that many old projects are now using this to start new narratives.
Recently, the Ethereum blue chip NFT project CyberKongz announced that it will launch the Pre-Runes series Prometheans on the Bitcoin network and airdrop it to CyberKongz holders and the Ordinals community. At the same time, Pre-Runes gameplay is becoming increasingly popular, and has become a focus of capital ambush due to its super strong mining expectations.
Launch of the Rune Project Prometheans, free airdrop for NFT holders and the Ordinals community
According to the official introduction of CyberKongz, Prometheans is the highest-level series of projects in the CyberKongz universe, with a total of 21,000 pieces. It mainly integrates geometric shapes, crop circle legends, Nia letters, Bitcoin clock concepts and philosophical thoughts. Runes are the catalyst for integrating CyberKongz's knowledge, history and values with Bitcoin.
Prometheans will conduct a free airdrop next week. In addition to 15% allocated to CyberKongz holders, out of respect and appreciation for the Ordinals culture community, it will allocate 85% of the supply (i.e. 17,850 pieces) to the Ordinals community. According to the information released by CyberKongz, the current list of communities to which it airdrops includes Runestones, Ordinal Miners, Goosinals, Quantum Cats, Bitcoin Puppets, Blobs, and Ordinal Maxi Biz (OMB).
To ensure fair distribution, CyberKongz created a custom script that will obtain three data points from each selected community based on how long an individual has held Ordinal, including wallet, inscription, and last transfer time. The airdrop will target the wallet with the longest holding time. The longer you hold Ordinal, the greater your chance of getting the Prometheans airdrop.
As an NFT project created on Ethereum in 2021, CyberKongz has attracted much attention with the help of the NFT craze, breeding mechanisms, and the introduction of innovative gameplay such as the social token $BANANA. The floor price once exceeded 100 ETH and was close to CryptoPunks. However, according to the latest data from NFT Price Floor, as of April 16, CyberKongz's floor price has fallen to 10.7 ETH, a drop of more than 91.7% from its historical high.
In fact, CyberKongz’s continued downturn is a microcosm of the current Ethereum NFT market. For this reason, many NFT projects have been making changes in the past to reverse the downward trend. However, it remains to be seen whether CyberKongz can regain its vitality by focusing on the rune track.
Pre-Runes has a significant head effect, and pre-mining gameplay has certain risks
While CyberKongz's entry into the rune ecosystem has attracted attention, the Pre-Runes gameplay it introduced is also the main layout direction of the current rune market.
According to Magic Eden data, as of April 16, there were more than 30 rune projects in the Pre-Runes section, including popular projects such as Runestone, Rune Pups, RSIC METAPROTOCOL, Tiny Vikings and RuneX: UNNAMED.
But overall, the current funds and liquidity of Pre-Runes are mainly concentrated in the leading projects, especially Runestone, which ranks first with a market value of over 530 million US dollars. The market value and transaction volume of most Pre-Runes projects are less than 10 million US dollars, and the number of holding addresses is less than 10,000.
In addition, many players also pointed out that the pre-mining method of Pre-Runes may overdraw the market expectations of Runes in advance, and these projects are mixed, and the Runes protocol has not yet been officially launched, so it cannot be regarded as a real rune. At the same time, the Runes protocol has not yet announced specific distribution rules. In a sense, the mining machines or NFTs of the Pre-Runes project are more like "trust certificates", and their value is based on user trust. It is difficult to judge whether the project party will airdrop the authenticity of the rune tokens and the risks of being "reverse-rolled" under high gas fees.
