Written by: Amey Pray

Compiled by: TechFlow

Memes are more than just images overlaid with words that make people laugh. Memes have the power to influence narratives, change the way people think, and drive them to take action. Especially in the age of crypto, memes are the universal language that connects us.

6529 of Making Meme is a multi-season NFT project. Each season begins, artists create visual representations based on prompts given by the project, such as "Free Trade" or "Open Metaverse." Each season consists of eight Meme prompts, with each prompt having between two and eleven Meme cards. Meme cards are limited edition NFTs with a visual representation.

The project was spearheaded by renowned Web3 thought leader Punk6529, who initially emerged on Crypto Twitter as an NFT collector in July 2021 and has now transformed into a mission-driven builder through their tweets. The Memes NFT series aims to promote 6529’s open metaverse principles such as decentralization, community, self-sovereignty, and more.

While many of the NFTs in the collection are designed by 6529 and 6529ers, the project also invites artists to collaborate and has grown to include work by big artists like XCOPY. All published artwork is stored on Arweave and placed in the public domain. Essentially, 6529 and their team prepare the meme prompts, vet artists who are interested in the meme cards, and curate the artwork that is selected for release. This curation aspect also exists in other popular NFT projects like Art Blocks.

The NFT series has experienced a massive bull run in the past three months. The combined market value of all NFTs has rebounded from 2.7K ETH in November 2022 to nearly 50K today, an increase of more than 17 times. The combined market value hit an all-time high of 71.8K ETH on January 23, 2023. At the same time, the number of single wallets holding NFTs has also increased from 3.5K to 6.2K in the same period, an increase of 76%.

A full set collector is one whose collection includes all versions of the NFT released to date. Currently, there are 95 wallets that are full set collectors. In the weeks after the project was launched, there were already as many as 618 full set collectors, but this number is trending downward as more NFTs are released and the cost of obtaining a full set increases. On January 19, 2023, a full set can be redeemed for 1 CryptoPunk NFT. Currently, the price of a full set is 101 ETH, including 60 NFTs released by the project to date.

The project aims to release NFTs with large supply and low price to encourage wide distribution. Currently, 21% of the collections have a supply size above 900 NFTs. In addition, 21% of the collections are also held by more than 700 single wallets. The minting cost is always 0.06529 ETH per NFT, of which 50% of the revenue is shared with the original artist. The series also charges a 6.9% creator fee.

The project implements a standard minting model where each version has a fixed supply and a fixed cost during the minting period. Minting starts with a limited permission list, which usually includes holders of the artist's previous works and holders of previous Meme card NFTs. The permission list is followed by public minting. However, due to high demand, it may be difficult for ordinary users to complete the mint from the primary market and need to purchase from the secondary market.

Its average selling price on OpenSea has risen 300% from 0.1609 ETH in November 2022 to 0.6535 ETH today. However, the price of each card can vary greatly depending on the artist and supply. Currently, the cheapest is FirstGM at 0.3529ETH (the highest supply size is 2434), while the most expensive is NakamotoFreedom at 27ETH (the lowest supply size is 222).

The project is currently releasing NFTs for Season 2. Users can stay up to date on the new season by following 6529’s official Twitter account.

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